NETGEAR, Inc. (NASDAQ:NTGR) Given Average Rating of “Hold” by Analysts

Shares of NETGEAR, Inc. (NASDAQ:NTGR) have earned a consensus recommendation of “Hold” from the four brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $36.00.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a research report on Wednesday, June 24th.

NETGEAR Stock Performance

NTGR stock opened at $24.15 on Thursday. NETGEAR has a fifty-two week low of $19.00 and a fifty-two week high of $36.86. The business’s 50 day moving average price is $23.84 and its two-hundred day moving average price is $23.19. The company has a market capitalization of $648.19 million, a price-to-earnings ratio of -27.44 and a beta of 1.20.

Insider Buying and Selling at NETGEAR

In other news, Director Sarah Butterfass sold 2,704 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $26.90, for a total transaction of $72,737.60. Following the sale, the director owned 38,953 shares in the company, valued at approximately $1,047,835.70. The trade was a 6.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Laura Durr sold 2,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $25.94, for a total transaction of $51,880.00. Following the completion of the sale, the director directly owned 43,059 shares in the company, valued at $1,116,950.46. This represents a 4.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 9,085 shares of company stock valued at $242,293. 3.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NETGEAR

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. purchased a new position in shares of NETGEAR during the second quarter valued at approximately $442,000. Bank of America Corp DE boosted its position in shares of NETGEAR by 71.5% in the 1st quarter. Bank of America Corp DE now owns 240,730 shares of the communications equipment provider’s stock worth $5,258,000 after purchasing an additional 100,368 shares in the last quarter. Royal Bank of Canada grew its stake in shares of NETGEAR by 354.2% in the 1st quarter. Royal Bank of Canada now owns 24,388 shares of the communications equipment provider’s stock worth $533,000 after buying an additional 19,019 shares during the last quarter. Empowered Funds LLC grew its stake in shares of NETGEAR by 15.5% in the 1st quarter. Empowered Funds LLC now owns 159,905 shares of the communications equipment provider’s stock worth $3,492,000 after buying an additional 21,469 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in NETGEAR by 77.8% during the 1st quarter. Renaissance Technologies LLC now owns 557,462 shares of the communications equipment provider’s stock valued at $12,175,000 after buying an additional 243,843 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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.