NetGear, Inc. (NASDAQ:NTGR) SVP Michael F. Falcon sold 521 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $53.75, for a total value of $28,003.75. Following the completion of the sale, the senior vice president now directly owns 32,021 shares in the company, valued at approximately $1,721,128.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
NetGear, Inc. (NASDAQ:NTGR) traded down 0.83% during midday trading on Monday, reaching $53.70. The company had a trading volume of 189,880 shares. The company’s 50 day moving average is $55.08 and its 200-day moving average is $54.94. NetGear, Inc. has a 52-week low of $38.25 and a 52-week high of $60.82. The company has a market capitalization of $1.77 billion, a P/E ratio of 23.87 and a beta of 1.62.
NetGear (NASDAQ:NTGR) last released its quarterly earnings results on Tuesday, February 7th. The company reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.11. The company had revenue of $367.90 million for the quarter, compared to analysts’ expectations of $349.97 million. NetGear had a return on equity of 12.00% and a net margin of 5.71%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 earnings per share. Equities analysts expect that NetGear, Inc. will post $3.16 earnings per share for the current fiscal year.
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A number of equities research analysts recently issued reports on NTGR shares. Guggenheim started coverage on NetGear in a research note on Wednesday, January 4th. They issued a “buy” rating and a $70.00 target price on the stock. Zacks Investment Research raised NetGear from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Wednesday, December 28th. Finally, Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of NetGear in a research note on Wednesday, February 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. NetGear currently has a consensus rating of “Hold” and a consensus target price of $58.66.
Several large investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in NetGear by 34.2% in the fourth quarter. FMR LLC now owns 2,279,258 shares of the company’s stock worth $123,878,000 after buying an additional 580,422 shares during the period. Norges Bank acquired a new stake in NetGear during the fourth quarter worth $30,149,000. Principal Financial Group Inc. boosted its stake in NetGear by 64.2% in the third quarter. Principal Financial Group Inc. now owns 529,702 shares of the company’s stock worth $32,042,000 after buying an additional 207,092 shares during the period. Russell Investments Group Ltd. acquired a new stake in NetGear during the fourth quarter worth $11,136,000. Finally, Panagora Asset Management Inc. boosted its stake in NetGear by 1,067.7% in the third quarter. Panagora Asset Management Inc. now owns 222,605 shares of the company’s stock worth $13,465,000 after buying an additional 203,542 shares during the period. 98.73% of the stock is currently owned by institutional investors.
NETGEAR, Inc is a global networking company. The Company’s product line consists of devices, such as network attached storage, Internet protocol security cameras, and home automation devices and services. Its segments include retail, commercial and service provider. The retail business unit consists of home networking, home video security, storage and digital media products.
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