Brokerages Set NETGEAR, Inc. (NASDAQ:NTGR) PT at $36.00

NETGEAR, Inc. (NASDAQ:NTGR) has been given a consensus rating of “Hold” by the four ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $36.00.

Several equities analysts have recently issued reports on NTGR shares. Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a report on Wednesday, June 24th. Wall Street Zen upgraded shares of NETGEAR from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th.

Insider Buying and Selling at NETGEAR

In other news, Director Sarah Butterfass sold 2,704 shares of the business’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 value of $72,737.60. Following the completion of the sale, the director directly owned 38,953 shares in the company, valued at $1,047,835.70. The trade was a 6.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 on Monday, June 1st. The stock was sold at an average price of $25.94, for a total transaction of $51,880.00. Following the transaction, the director owned 43,059 shares of the company’s stock, valued at $1,116,950.46. This represents a 4.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 12,085 shares of company stock valued at $318,703. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On NETGEAR

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of NETGEAR by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 2,543,240 shares of the communications equipment provider’s stock worth $62,386,000 after purchasing an additional 74,457 shares during the period. Brandes Investment Partners LP increased its holdings in NETGEAR by 10.8% in the 4th quarter. Brandes Investment Partners LP now owns 1,855,555 shares of the communications equipment provider’s stock valued at $45,517,000 after purchasing an additional 180,295 shares during the last quarter. Dimensional Fund Advisors LP raised its position in NETGEAR by 5.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,636,697 shares of the communications equipment provider’s stock valued at $53,010,000 after purchasing an additional 85,228 shares during the period. Windward Management LP purchased a new stake in NETGEAR in the fourth quarter valued at approximately $35,468,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in NETGEAR by 17.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 808,805 shares of the communications equipment provider’s stock worth $26,197,000 after purchasing an additional 117,824 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

NETGEAR Price Performance

NETGEAR stock opened at $22.94 on Friday. The stock has a market capitalization of $615.71 million, a price-to-earnings ratio of -26.07 and a beta of 1.19. NETGEAR has a 1-year low of $19.00 and a 1-year high of $36.86. The business has a fifty day moving average price of $24.49 and a 200-day moving average price of $23.25.

NETGEAR (NASDAQ:NTGR) last announced its earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, beating 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 company had revenue of $158.82 million for the quarter, compared to analyst estimates of $152.49 million. During the same period in the prior year, the company posted $0.02 EPS. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts anticipate that NETGEAR will post -0.5 earnings per share for the current fiscal year.

NETGEAR Company Profile

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.