NETGEAR (NASDAQ:NTGR) Cut to “Hold” at StockNews.com

StockNews.com cut shares of NETGEAR (NASDAQ:NTGR) from a buy rating to a hold rating in a report issued on Monday morning.

Separately, Raymond James lifted their price target on shares of NETGEAR from $22.00 to $29.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th.

NETGEAR Stock Performance

Shares of NASDAQ:NTGR opened at $24.80 on Monday. The firm has a market cap of $715.95 million, a price-to-earnings ratio of 62.00 and a beta of 0.72. The business has a 50-day simple moving average of $27.35 and a two-hundred day simple moving average of $23.55. NETGEAR has a fifty-two week low of $10.48 and a fifty-two week high of $31.55.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings data on Wednesday, February 5th. The communications equipment provider reported ($0.24) EPS for the quarter, hitting the consensus estimate of ($0.24). NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. As a group, research analysts predict that NETGEAR will post -1.84 earnings per share for the current year.

Insider Transactions at NETGEAR

In other news, Director Thomas H. Waechter sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $30.42, for a total transaction of $60,840.00. Following the sale, the director now directly owns 61,135 shares in the company, valued at $1,859,726.70. This trade represents a 3.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles J. Prober sold 10,929 shares of NETGEAR stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $26.64, for a total transaction of $291,148.56. Following the transaction, the chief executive officer now owns 507,763 shares in the company, valued at approximately $13,526,806.32. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.

Institutional Trading of NETGEAR

Institutional investors have recently made changes to their positions in the business. Quarry LP lifted its holdings in NETGEAR by 66.5% in the 3rd quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock worth $37,000 after purchasing an additional 741 shares in the last quarter. R Squared Ltd purchased a new position in shares of NETGEAR in the fourth quarter worth $72,000. New York State Teachers Retirement System purchased a new position in shares of NETGEAR in the fourth quarter worth $72,000. Summit Investment Advisors Inc. boosted its position in shares of NETGEAR by 19.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider’s stock worth $81,000 after acquiring an additional 479 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in NETGEAR during the third quarter valued at $91,000. Hedge funds and other institutional investors 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.