NETGEAR (NASDAQ:NTGR) Director Laura Durr Sells 1,000 Shares of Stock

NETGEAR, Inc. (NASDAQ:NTGR) Director Laura Durr sold 1,000 shares of NETGEAR stock in a transaction 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 completion of the transaction, 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Laura Durr also recently made the following trade(s):

• On Monday, June 1st, Laura Durr sold 2,000 shares of NETGEAR stock. The stock was sold at an average price of $25.94, for a total value of $51,880.00.

NETGEAR Stock Down 3.9%

Shares of NASDAQ NTGR opened at $26.19 on Thursday. The stock has a market capitalization of $702.94 million, a price-to-earnings ratio of -29.76 and a beta of 1.17. The stock’s fifty day simple moving average is $24.95 and its 200 day simple moving average is $23.63. NETGEAR, Inc. has a 52-week low of $19.00 and a 52-week high of $36.86.

NETGEAR (NASDAQ:NTGR) last issued its earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share (EPS) 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 company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.02 EPS. As a group, analysts anticipate that NETGEAR, Inc. will post -0.5 earnings per share for the current year.

Hedge Funds Weigh In On NETGEAR

A number of institutional investors have recently made changes to their positions in the business. Comerica Bank increased its stake in shares of NETGEAR by 64.8% in the third quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 429 shares during the period. Jones Financial Companies Lllp increased its stake in shares of NETGEAR by 44.7% in the third quarter. Jones Financial Companies Lllp now owns 2,323 shares of the communications equipment provider’s stock worth $75,000 after purchasing an additional 718 shares during the period. Cetera Investment Advisers increased its stake in shares of NETGEAR by 6.4% in the first quarter. Cetera Investment Advisers now owns 11,996 shares of the communications equipment provider’s stock worth $262,000 after purchasing an additional 725 shares during the period. Tower Research Capital LLC TRC increased its stake in NETGEAR by 35.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the communications equipment provider’s stock valued at $101,000 after acquiring an additional 904 shares during the period. Finally, FNY Investment Advisers LLC increased its stake in NETGEAR by 50.0% during the third quarter. FNY Investment Advisers LLC now owns 3,000 shares of the communications equipment provider’s stock valued at $97,000 after acquiring an additional 1,000 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NTGR. Wall Street Zen raised NETGEAR from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Stifel Nicolaus set a $36.00 price objective on NETGEAR in a research report on Thursday, February 5th. Weiss Ratings reissued a “sell (d)” rating on shares of NETGEAR in a research report on Friday, March 27th. Finally, Zacks Research raised NETGEAR from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.00.

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.