Analysts Set NETGEAR, Inc. (NASDAQ:NTGR) Target Price at $36.00

NETGEAR, Inc. (NASDAQ:NTGR) has been assigned a consensus recommendation of “Hold” from the four ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $36.00.

A number of analysts have recently weighed in on the company. Stifel Nicolaus set a $36.00 price target on NETGEAR in a research report on Thursday, February 5th. Zacks Research upgraded shares of NETGEAR from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a research report on Friday, March 27th. Finally, Wall Street Zen upgraded NETGEAR from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th.

Insider Buying and Selling

In related news, insider Pramod Badjate sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $25.47, for a total value of $76,410.00. Following the sale, the insider directly owned 165,513 shares in the company, valued at $4,215,616.11. This trade represents a 1.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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. 3.10% of the stock is currently owned by corporate insiders.

Institutional Trading of NETGEAR

Several large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its position in NETGEAR by 71.5% in the 1st 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 increased its position in NETGEAR by 354.2% in the 1st quarter. Royal Bank of Canada now owns 24,388 shares of the communications equipment provider’s stock valued at $533,000 after acquiring an additional 19,019 shares during the period. Empowered Funds LLC increased its position in NETGEAR by 15.5% in the 1st quarter. Empowered Funds LLC now owns 159,905 shares of the communications equipment provider’s stock valued at $3,492,000 after acquiring an additional 21,469 shares during the period. Renaissance Technologies LLC increased its position in NETGEAR by 77.8% in the 1st quarter. Renaissance Technologies LLC now owns 557,462 shares of the communications equipment provider’s stock valued at $12,175,000 after acquiring an additional 243,843 shares during the period. Finally, Caxton Associates LLP increased its position in NETGEAR by 137.7% in the 1st quarter. Caxton Associates LLP now owns 55,950 shares of the communications equipment provider’s stock valued at $1,222,000 after acquiring an additional 32,415 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

NETGEAR Trading Up 3.7%

Shares of NETGEAR stock opened at $25.79 on Friday. The business’s 50 day simple moving average is $24.20 and its 200-day simple moving average is $23.86. The stock has a market capitalization of $692.20 million, a price-to-earnings ratio of -29.31 and a beta of 1.18. NETGEAR has a twelve month low of $19.00 and a twelve month high of $36.86.

NETGEAR (NASDAQ:NTGR) last announced its quarterly 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. The business had revenue of $158.82 million for the quarter, compared to analysts’ expectations of $152.49 million. NETGEAR had a negative return on equity of 2.71% and a negative net margin of 3.58%.The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.02 EPS. Sell-side analysts predict that NETGEAR will post -0.59 earnings per share for the current 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.