NETGEAR’s (NTGR) “Neutral” Rating Reaffirmed at BWS Financial

BWS Financial reaffirmed their neutral rating on shares of NETGEAR (NASDAQ:NTGR) in a research report report published on Thursday morning, MarketBeat Ratings reports. BWS Financial currently has a $13.00 price target on the communications equipment provider’s stock.

NETGEAR Stock Performance

Shares of NTGR stock traded down $0.15 on Thursday, hitting $11.63. The company’s stock had a trading volume of 581,269 shares, compared to its average volume of 223,898. NETGEAR has a fifty-two week low of $10.40 and a fifty-two week high of $15.93. The company has a market capitalization of $338.08 million, a PE ratio of -3.02 and a beta of 0.86. The stock’s 50 day moving average is $14.79 and its 200-day moving average is $14.06.

NETGEAR (NASDAQ:NTGR) last announced its earnings results on Wednesday, February 7th. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.04. NETGEAR had a negative net margin of 15.69% and a negative return on equity of 3.73%. The firm had revenue of $188.67 million for the quarter, compared to analyst estimates of $185.14 million. During the same quarter in the prior year, the business posted ($0.21) EPS. The business’s revenue was down 24.3% compared to the same quarter last year. On average, research analysts forecast that NETGEAR will post -0.16 earnings per share for the current year.

Insider Buying and Selling at NETGEAR

In other news, insider Andrew Wonki Kim sold 5,889 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $14.50, for a total transaction of $85,390.50. Following the sale, the insider now directly owns 88,001 shares of the company’s stock, valued at approximately $1,276,014.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Andrew Wonki Kim sold 5,889 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.50, for a total value of $85,390.50. Following the completion of the transaction, the insider now directly owns 88,001 shares in the company, valued at approximately $1,276,014.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Vikram Mehta sold 1,844 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $14.48, for a total transaction of $26,701.12. Following the sale, the senior vice president now owns 25,569 shares in the company, valued at approximately $370,239.12. The disclosure for this sale can be found here. Insiders sold 13,456 shares of company stock valued at $195,304 in the last three months. Corporate insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On NETGEAR

A number of institutional investors have recently modified their holdings of NTGR. Brandes Investment Partners LP boosted its position in NETGEAR by 38.7% in the third quarter. Brandes Investment Partners LP now owns 3,465,808 shares of the communications equipment provider’s stock valued at $43,635,000 after buying an additional 967,537 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in NETGEAR by 66.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 440,030 shares of the communications equipment provider’s stock worth $5,540,000 after purchasing an additional 175,288 shares in the last quarter. First Eagle Investment Management LLC bought a new position in NETGEAR in the fourth quarter valued at about $1,713,000. Kennedy Capital Management LLC acquired a new stake in shares of NETGEAR during the third quarter valued at about $1,449,000. Finally, Walleye Capital LLC grew its holdings in shares of NETGEAR by 279.2% during the third quarter. Walleye Capital LLC now owns 151,718 shares of the communications equipment provider’s stock worth $1,910,000 after purchasing an additional 111,713 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

NETGEAR Company Profile

NETGEAR, Inc provides connectivity solutions the Americas; Europe, the Middle East, Africa; and the Asia Pacific. The company operates in two segments, Connected Home, and NETGEAR for Business. The Connected Home segment offers Wi-Fi routers and home Wi-Fi mesh systems, Wi-Fi hotspots, digital displays, broadband modems, Wi-Fi gateways, Wi-Fi range extenders, powerline adapters, and Wi-Fi network adapters; and provides value-added service offerings, including security and privacy, technical support, and parental controls.