BidaskClub upgraded shares of NetGear (NASDAQ:NTGR) from a buy rating to a strong-buy rating in a research note published on Thursday, December 21st.
Several other research firms also recently issued reports on NTGR. 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 report on Monday, December 18th. Zacks Investment Research downgraded shares of NetGear from a hold rating to a sell rating in a research note on Friday, October 13th. Finally, BWS Financial upgraded shares of NetGear from a hold rating to a buy rating and set a $60.00 price objective for the company in a research report on Monday, October 9th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. NetGear presently has a consensus rating of Buy and a consensus target price of $65.20.
NetGear (NTGR) traded up $1.95 during midday trading on Thursday, hitting $65.40. 526,493 shares of the company traded hands, compared to its average volume of 510,178. NetGear has a 1 year low of $41.50 and a 1 year high of $65.55. The company has a market cap of $2,060.00, a price-to-earnings ratio of 29.73 and a beta of 1.53.
NetGear (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, October 25th. The communications equipment provider reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.13. The firm had revenue of $355.48 million for the quarter, compared to the consensus estimate of $349.36 million. NetGear had a net margin of 5.33% and a return on equity of 10.57%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 earnings per share. analysts expect that NetGear will post 2.24 EPS for the current fiscal year.
In other news, SVP Patrick J. Collins III sold 750 shares of NetGear stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $60.10, for a total value of $45,075.00. Following the transaction, the senior vice president now directly owns 20,182 shares of the company’s stock, valued at approximately $1,212,938.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark G. Merrill sold 3,000 shares of NetGear stock in a transaction on Monday, October 16th. The shares were sold at an average price of $50.70, for a total transaction of $152,100.00. Following the completion of the transaction, the insider now directly owns 32,534 shares in the company, valued at $1,649,473.80. The disclosure for this sale can be found here. Insiders sold 82,300 shares of company stock valued at $4,220,161 in the last quarter. 6.20% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. increased its stake in NetGear by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,206 shares of the communications equipment provider’s stock valued at $138,000 after buying an additional 482 shares during the period. Amalgamated Bank acquired a new position in shares of NetGear during the 3rd quarter worth $207,000. M&T Bank Corp grew its stake in shares of NetGear by 31.5% during the 2nd quarter. M&T Bank Corp now owns 5,428 shares of the communications equipment provider’s stock worth $234,000 after purchasing an additional 1,300 shares during the period. K.J. Harrison & Partners Inc acquired a new position in shares of NetGear during the 3rd quarter worth $286,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of NetGear during the 3rd quarter worth $301,000. 97.52% of the stock is currently owned by institutional investors.
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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.
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