BWS Financial lowered shares of Netgear Inc. (NASDAQ:NTGR) from a buy rating to a hold rating in a report issued on Monday morning. They currently have $60.00 price target on the stock, down from their previous price target of $64.00.
Other equities research analysts also recently issued reports about the company. Rosenblatt Securities reaffirmed a buy rating and issued a $47.50 price target on shares of Netgear in a research report on Thursday, June 9th. Wunderlich initiated coverage on Netgear in a research report on Wednesday, June 8th. They issued a buy rating and a $55.00 price target on the stock. Zacks Investment Research upgraded shares of Netgear from a hold rating to a strong-buy rating and set a $61.00 target price for the company in a research note on Tuesday, August 2nd. Vetr upgraded shares of Netgear from a sell rating to a hold rating and set a $50.82 target price for the company in a research note on Monday, August 1st. Finally, Citigroup Inc. cut shares of Netgear to a neutral rating and set a $47.50 target price for the company. in a research note on Tuesday, July 12th. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $53.36.
Shares of Netgear (NASDAQ:NTGR) opened at 55.93 on Monday. Netgear has a 12-month low of $31.65 and a 12-month high of $60.82. The company has a market cap of $1.83 billion, a PE ratio of 26.61 and a beta of 1.92. The stock’s 50 day moving average price is $57.65 and its 200-day moving average price is $48.39.
Netgear (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.12. The company had revenue of $311.66 million for the quarter, compared to the consensus estimate of $298.87 million. Netgear had a return on equity of 12.06% and a net margin of 5.25%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same period last year, the business posted $0.29 earnings per share. On average, equities research analysts forecast that Netgear will post $2.96 earnings per share for the current year.
In other news, SVP Michael A. Werdann sold 1,348 shares of Netgear stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $49.54, for a total value of $66,779.92. Following the completion of the transaction, the senior vice president now owns 24,750 shares in the company, valued at $1,226,115. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael F. Falcon sold 1,042 shares of Netgear stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $59.63, for a total transaction of $62,134.46. Following the completion of the transaction, the senior vice president now owns 35,870 shares of the company’s stock, valued at approximately $2,138,928.10. The disclosure for this sale can be found here. Company insiders own 5.40% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Netgear by 7.0% in the second quarter. Vanguard Group Inc. now owns 2,890,854 shares of the company’s stock worth $137,431,000 after buying an additional 189,300 shares during the period. FMR LLC boosted its position in Netgear by 39.7% in the second quarter. FMR LLC now owns 2,866,848 shares of the company’s stock worth $136,290,000 after buying an additional 814,166 shares during the period. Dimensional Fund Advisors LP boosted its position in Netgear by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,721,426 shares of the company’s stock worth $129,375,000 after buying an additional 11,749 shares during the period. BlackRock Fund Advisors boosted its position in Netgear by 4.0% in the second quarter. BlackRock Fund Advisors now owns 2,123,816 shares of the company’s stock worth $100,966,000 after buying an additional 80,868 shares during the period. Finally, LSV Asset Management boosted its position in Netgear by 0.6% in the second quarter. LSV Asset Management now owns 1,658,973 shares of the company’s stock worth $78,867,000 after buying an additional 9,882 shares during the period. Institutional investors own 99.48% of the company’s stock.
NETGEAR, Inc is a global networking company. The Company’s product line consists of devices, such as network attached storage, Internet protocol security cameras, and home automation devices and services. Its segments include retail, commercial and service provider. The retail business unit consists of home networking, home video security, storage and digital media products.
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