NetGear, Inc. (NASDAQ:NTGR) insider Mark G. Merrill sold 3,000 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $54.05, for a total transaction of $162,150.00. Following the transaction, the insider now directly owns 30,659 shares in the company, valued at $1,657,118.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
NetGear, Inc. (NTGR) traded up $1.95 on Friday, hitting $65.40. 526,493 shares of the company were exchanged, compared to its average volume of 510,178. NetGear, Inc. has a one year low of $41.50 and a one year high of $65.55. The company has a market capitalization of $2,060.00, a price-to-earnings ratio of 29.73 and a beta of 1.53.
NetGear (NASDAQ:NTGR) last released its quarterly earnings results on Wednesday, October 25th. The communications equipment provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. NetGear had a net margin of 5.33% and a return on equity of 10.57%. The company had revenue of $355.48 million for the quarter, compared to analyst estimates of $349.36 million. During the same period last year, the firm earned $0.76 earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis. analysts predict that NetGear, Inc. will post 2.24 EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brandes Investment Partners LP bought a new position in shares of NetGear during the second quarter valued at about $2,293,000. Eaton Vance Management lifted its position in shares of NetGear by 193.6% during the second quarter. Eaton Vance Management now owns 271,238 shares of the communications equipment provider’s stock valued at $11,690,000 after purchasing an additional 178,855 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of NetGear by 9.6% during the second quarter. Goldman Sachs Group Inc. now owns 121,997 shares of the communications equipment provider’s stock valued at $5,258,000 after purchasing an additional 10,637 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of NetGear by 28.2% during the second quarter. Alliancebernstein L.P. now owns 1,417,760 shares of the communications equipment provider’s stock valued at $61,105,000 after purchasing an additional 311,735 shares in the last quarter. Finally, State Street Corp lifted its position in shares of NetGear by 1.8% during the second quarter. State Street Corp now owns 842,782 shares of the communications equipment provider’s stock valued at $36,319,000 after purchasing an additional 14,817 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.
NTGR has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of NetGear from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. Raymond James Financial raised shares of NetGear from a “market perform” rating to an “outperform” rating and set a $62.00 price objective on the stock in a research note on Monday, December 18th. BidaskClub raised shares of NetGear from a “hold” rating to a “buy” rating in a research note on Thursday, December 14th. Finally, BWS Financial raised shares of NetGear from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Monday, October 9th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $65.20.
NetGear Company Profile
NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.
Receive News & Ratings for NetGear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetGear and related companies with MarketBeat.com's FREE daily email newsletter.