NETGEAR, Inc. (NASDAQ:NTGR) Receives $36.00 Average PT from Analysts

Shares of NETGEAR, Inc. (NASDAQ:NTGR) have been given an average recommendation of “Hold” by the four research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $36.00.

NTGR has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a report on Friday, March 27th. Wall Street Zen raised shares of NETGEAR from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Zacks Research upgraded shares of NETGEAR from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, Stifel Nicolaus set a $36.00 target price on shares of NETGEAR in a research report on Thursday, February 5th.

NETGEAR Trading Down 0.2%

Shares of NETGEAR stock opened at $24.48 on Friday. The business has a 50-day moving average price of $24.04 and a two-hundred day moving average price of $23.91. NETGEAR has a 1-year low of $19.00 and a 1-year high of $36.86. The company has a market cap of $657.04 million, a P/E ratio of -27.82 and a beta of 1.18.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings data on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $152.49 million. During the same period in the previous year, the business earned $0.02 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. Equities research analysts forecast that NETGEAR will post -0.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other NETGEAR news, insider Pramod Badjate sold 3,000 shares of NETGEAR stock in a transaction on Friday, May 1st. The shares were sold at an average price of $25.47, for a total value of $76,410.00. Following the completion of the sale, the insider directly owned 165,513 shares of the company’s stock, valued at approximately $4,215,616.11. The trade was a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 3.10% of the company’s stock.

Institutional Trading of NETGEAR

Large investors have recently made changes to their positions in the company. Leuthold Group LLC acquired a new stake in NETGEAR in the 3rd quarter valued at $3,309,000. Allianz Asset Management GmbH raised its holdings in NETGEAR by 169.0% during the third quarter. Allianz Asset Management GmbH now owns 109,322 shares of the communications equipment provider’s stock worth $3,541,000 after buying an additional 68,683 shares during the last quarter. Cinctive Capital Management LP bought a new position in shares of NETGEAR in the third quarter valued at $6,433,000. Sierra Summit Advisors LLC bought a new position in shares of NETGEAR in the third quarter valued at $1,079,000. Finally, First Eagle Investment Management LLC grew its holdings in shares of NETGEAR by 27.6% during the third quarter. First Eagle Investment Management LLC now owns 150,393 shares of the communications equipment provider’s stock valued at $4,871,000 after buying an additional 32,500 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.