NETGEAR, Inc. (NASDAQ:NTGR) Receives Average Rating of “Hold” from Brokerages

Shares of NETGEAR, Inc. (NASDAQ:NTGR) have been given a consensus rating of “Hold” by the four brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $36.00.

Several research firms have commented on NTGR. Weiss Ratings reissued a “sell (d)” rating on shares of NETGEAR in a research note on Friday, March 27th. Zacks Research raised shares of NETGEAR from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Wall Street Zen raised shares of NETGEAR from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Stifel Nicolaus set a $36.00 price target on shares of NETGEAR in a research note on Thursday, February 5th.

Insider Activity at NETGEAR

In other NETGEAR news, insider Pramod Badjate sold 3,000 shares of NETGEAR stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $25.47, for a total transaction of $76,410.00. Following the transaction, the insider directly owned 165,513 shares of the company’s stock, valued at approximately $4,215,616.11. This trade represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Comerica Bank raised its stake in shares of NETGEAR by 64.8% during the third quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock worth $35,000 after acquiring an additional 429 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of NETGEAR by 44.7% in the third quarter. Jones Financial Companies Lllp now owns 2,323 shares of the communications equipment provider’s stock worth $75,000 after purchasing an additional 718 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of NETGEAR by 6.4% in the first quarter. Cetera Investment Advisers now owns 11,996 shares of the communications equipment provider’s stock worth $262,000 after purchasing an additional 725 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of NETGEAR by 35.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the communications equipment provider’s stock worth $101,000 after purchasing an additional 904 shares during the last quarter. Finally, FNY Investment Advisers LLC grew its holdings in shares of NETGEAR by 50.0% in the third quarter. FNY Investment Advisers LLC now owns 3,000 shares of the communications equipment provider’s stock worth $97,000 after purchasing an additional 1,000 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

NETGEAR Price Performance

Shares of NTGR opened at $24.75 on Friday. The firm’s 50 day simple moving average is $23.80 and its 200 day simple moving average is $24.17. The company has a market capitalization of $664.29 million, a P/E ratio of -28.13 and a beta of 1.18. NETGEAR has a 1-year low of $19.00 and a 1-year high of $36.86.

NETGEAR (NASDAQ:NTGR) last announced its earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.14. The business had revenue of $158.82 million for the quarter, compared to the consensus estimate of $152.49 million. NETGEAR had a negative net margin of 3.58% and a negative return on equity of 2.71%. NETGEAR’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm posted $0.02 earnings per share. On average, equities analysts anticipate that NETGEAR will post -0.59 earnings per share for the current year.

About NETGEAR

NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.