NETGEAR, Inc. (NASDAQ:NTGR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

NETGEAR, Inc. (NASDAQ:NTGR) has earned an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $37.3333.

A number of brokerages have weighed in on NTGR. Zacks Research lowered NETGEAR from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Stifel Nicolaus raised their price target on NETGEAR from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, October 17th. Wall Street Zen lowered NETGEAR from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Raymond James Financial increased their price objective on NETGEAR from $29.00 to $37.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a research report on Tuesday.

NETGEAR Stock Up 1.8%

Shares of NASDAQ:NTGR opened at $25.97 on Friday. NETGEAR has a fifty-two week low of $18.75 and a fifty-two week high of $36.86. The firm’s 50-day simple moving average is $30.60 and its 200-day simple moving average is $28.80. The company has a market cap of $737.63 million, a price-to-earnings ratio of -28.54 and a beta of 1.11.

Insider Activity at NETGEAR

In other NETGEAR news, insider Pramod Badjate sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $24.60, for a total transaction of $98,400.00. Following the transaction, the insider directly owned 155,361 shares in the company, valued at approximately $3,821,880.60. This represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bradley Maiorino sold 13,063 shares of the stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $35.26, for a total transaction of $460,601.38. Following the completion of the transaction, the director directly owned 56,356 shares of the company’s stock, valued at approximately $1,987,112.56. This trade represents a 18.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 20,315 shares of company stock worth $661,592 in the last ninety days. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On NETGEAR

Several hedge funds and other institutional investors have recently bought and sold shares of NTGR. Bank of New York Mellon Corp boosted its position in NETGEAR by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 100,562 shares of the communications equipment provider’s stock worth $2,460,000 after purchasing an additional 881 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of NETGEAR by 10.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 14,389 shares of the communications equipment provider’s stock worth $352,000 after buying an additional 1,331 shares in the last quarter. CWM LLC boosted its position in shares of NETGEAR by 35.4% in the 1st quarter. CWM LLC now owns 2,916 shares of the communications equipment provider’s stock worth $71,000 after buying an additional 763 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in NETGEAR in the 1st quarter valued at about $264,000. Finally, Skandinaviska Enskilda Banken AB publ purchased a new position in NETGEAR during the 1st quarter valued at about $154,000. 82.97% of the stock is owned by institutional investors and hedge funds.

About NETGEAR

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.