NETGEAR (NASDAQ:NTGR) Shares Cross Above 200 Day Moving Average – Should You Sell?

Shares of NETGEAR, Inc. (NASDAQ:NTGR) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $23.16 and traded as high as $24.36. NETGEAR shares last traded at $24.24, with a volume of 570,473 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NTGR shares. Wall Street Zen upgraded shares of NETGEAR from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a research note on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $36.00.

NETGEAR Price Performance

The stock has a market cap of $672.34 million, a price-to-earnings ratio of -28.47 and a beta of 1.19. The business’s fifty day simple moving average is $23.98 and its 200 day simple moving average is $23.16.

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 analysts’ consensus estimates of ($0.08) by $0.14. NETGEAR had a negative net margin of 3.58% and a negative return on equity of 2.71%. The company had revenue of $158.82 million for the quarter, compared to analysts’ expectations of $152.49 million. During the same period in the prior year, the company earned $0.02 earnings per share. The firm’s revenue was down 2.0% compared to the same quarter last year. As a group, equities analysts forecast that NETGEAR, Inc. will post -0.5 EPS for the current fiscal year.

Insider Buying and Selling at NETGEAR

In other news, Director Shravan Goli sold 3,381 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $26.89, for a total transaction of $90,915.09. Following the completion of the transaction, the director directly owned 25,857 shares of the company’s stock, valued at approximately $695,294.73. This represents a 11.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Laura Durr sold 1,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $26.76, for a total value of $26,760.00. Following the sale, the director owned 42,059 shares in the company, valued at $1,125,498.84. The trade was a 2.32% decrease in their ownership of the stock. 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. Insiders have sold 12,085 shares of company stock worth $318,703 in the last ninety days. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NTGR. Hennion & Walsh Asset Management Inc. acquired a new stake in NETGEAR in the second quarter worth $442,000. Bank of America Corp DE boosted its holdings in shares of NETGEAR by 71.5% during the first quarter. Bank of America Corp DE now owns 240,730 shares of the communications equipment provider’s stock valued at $5,258,000 after acquiring an additional 100,368 shares during the period. Royal Bank of Canada grew its position in shares of NETGEAR by 354.2% during the first quarter. Royal Bank of Canada now owns 24,388 shares of the communications equipment provider’s stock worth $533,000 after acquiring an additional 19,019 shares during the last quarter. Empowered Funds LLC grew its position in shares of NETGEAR by 15.5% during the first quarter. Empowered Funds LLC now owns 159,905 shares of the communications equipment provider’s stock worth $3,492,000 after acquiring an additional 21,469 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of NETGEAR by 77.8% in the 1st quarter. Renaissance Technologies LLC now owns 557,462 shares of the communications equipment provider’s stock worth $12,175,000 after acquiring an additional 243,843 shares during the period. 82.97% of the stock is currently owned by institutional investors.

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.