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

NETGEAR, Inc. (NASDAQ:NTGR) has earned an average recommendation of “Hold” from the four analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $36.00.

A number of research analysts recently issued reports on NTGR shares. Wall Street Zen upgraded NETGEAR from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a research note on Friday, March 27th. Finally, Zacks Research upgraded NETGEAR from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th.

Insider Transactions at NETGEAR

In related news, Director Sarah Butterfass sold 2,704 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $26.90, for a total transaction of $72,737.60. Following the transaction, the director owned 38,953 shares in the company, valued at $1,047,835.70. This trade represents a 6.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $25.94, for a total value of $51,880.00. Following the transaction, the director owned 43,059 shares in the company, valued at $1,116,950.46. This represents a 4.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 12,085 shares of company stock worth $318,703. 3.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Johnson Financial Group Inc. purchased a new position in NETGEAR during the 4th quarter worth approximately $25,000. Comerica Bank grew its stake in shares of NETGEAR by 64.8% in the 3rd quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock valued at $35,000 after purchasing an additional 429 shares during the last quarter. IFP Advisors Inc grew its stake in shares of NETGEAR by 161.7% in the 4th quarter. IFP Advisors Inc now owns 2,243 shares of the communications equipment provider’s stock valued at $55,000 after purchasing an additional 1,386 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of NETGEAR by 44.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,323 shares of the communications equipment provider’s stock valued at $75,000 after purchasing an additional 718 shares during the last quarter. Finally, FNY Investment Advisers LLC grew its stake in shares of NETGEAR by 50.0% in the 3rd quarter. FNY Investment Advisers LLC now owns 3,000 shares of the communications equipment provider’s stock valued at $97,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

NETGEAR Stock Performance

Shares of NASDAQ NTGR opened at $24.34 on Wednesday. NETGEAR has a fifty-two week low of $19.00 and a fifty-two week high of $36.86. The firm has a market capitalization of $653.29 million, a PE ratio of -27.66 and a beta of 1.17. The stock’s 50-day simple moving average is $25.30 and its 200-day simple moving average is $23.58.

NETGEAR (NASDAQ:NTGR) last issued its earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.14. NETGEAR had a negative return on equity of 2.71% and a negative net margin of 3.58%.The business had revenue of $158.82 million for the quarter, compared to analyst estimates of $152.49 million. During the same quarter last year, the company earned $0.02 EPS. The business’s quarterly revenue was down 2.0% on a year-over-year basis. On average, sell-side analysts forecast that NETGEAR will post -0.5 earnings per share for the current fiscal year.

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.