NETGEAR, Inc. (NASDAQ:NTGR) – Research analysts at BWS Financial lowered their Q3 2017 earnings per share (EPS) estimates for NETGEAR in a note issued to investors on Monday. BWS Financial analyst H. Khorsand now anticipates that the communications equipment provider will post earnings of $0.54 per share for the quarter, down from their previous forecast of $0.55. BWS Financial currently has a “Buy” rating and a $60.00 target price on the stock.
NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings data on Wednesday, July 26th. The communications equipment provider reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.06. NETGEAR had a return on equity of 10.67% and a net margin of 5.42%. The company had revenue of $330.72 million for the quarter, compared to analysts’ expectations of $324.64 million. During the same period in the previous year, the firm posted $0.72 EPS. NETGEAR’s revenue was up 6.1% compared to the same quarter last year.
Separately, Zacks Investment Research cut shares of NETGEAR from a “hold” rating to a “sell” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $62.13.
Hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its position in shares of NETGEAR by 17.1% in the first quarter. Envestnet Asset Management Inc. now owns 2,080 shares of the communications equipment provider’s stock valued at $103,000 after purchasing an additional 304 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of NETGEAR by 42.8% in the first quarter. Victory Capital Management Inc. now owns 2,724 shares of the communications equipment provider’s stock valued at $135,000 after purchasing an additional 817 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of NETGEAR in the first quarter valued at approximately $139,000. US Bancorp DE grew its position in shares of NETGEAR by 9.2% in the first quarter. US Bancorp DE now owns 3,243 shares of the communications equipment provider’s stock valued at $161,000 after purchasing an additional 272 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. grew its position in shares of NETGEAR by 364.8% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 3,500 shares of the communications equipment provider’s stock valued at $173,000 after purchasing an additional 2,747 shares during the last quarter. Institutional investors and hedge funds own 98.89% of the company’s stock.
In other news, insider Mark G. Merrill sold 6,000 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $45.00, for a total value of $270,000.00. Following the sale, the insider now directly owns 35,534 shares in the company, valued at $1,599,030. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Tamesa Rogers sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $47.35, for a total transaction of $71,025.00. Following the completion of the sale, the senior vice president now owns 22,703 shares in the company, valued at $1,074,987.05. The disclosure for this sale can be found here. Insiders sold 88,722 shares of company stock worth $4,260,177 over the last quarter. Company insiders own 6.20% of the company’s stock.
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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