NETGEAR (NASDAQ:NTGR) Director Shravan Goli Sells 3,381 Shares of Stock

NETGEAR, Inc. (NASDAQ:NTGR) Director Shravan Goli sold 3,381 shares of NETGEAR stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $26.89, for a total transaction of $90,915.09. Following the transaction, the director directly owned 25,857 shares in the company, valued at approximately $695,294.73. This trade represents a 11.56% decrease in their ownership of the stock. The sale was disclosed in a 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.

NETGEAR Stock Down 3.9%

Shares of NTGR stock opened at $26.19 on Thursday. The stock has a market cap of $702.94 million, a price-to-earnings ratio of -29.76 and a beta of 1.17. NETGEAR, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $36.86. The firm’s 50 day moving average price is $24.95 and its two-hundred day moving average price is $23.63.

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, beating 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 firm had revenue of $158.82 million for the quarter, compared to analysts’ expectations of $152.49 million. During the same period in the previous year, the company posted $0.02 earnings per share. NETGEAR’s revenue was down 2.0% compared to the same quarter last year. On average, equities analysts forecast that NETGEAR, Inc. will post -0.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NTGR. Stifel Nicolaus set a $36.00 price target on shares of NETGEAR in a research note on Thursday, February 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a research note on Friday, March 27th. Zacks Research upgraded shares of NETGEAR from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Finally, Wall Street Zen upgraded shares of NETGEAR from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $36.00.

Hedge Funds Weigh In On NETGEAR

Institutional investors have recently modified their holdings of the company. Amundi lifted its holdings in NETGEAR by 99.1% in the first quarter. Amundi now owns 48,211 shares of the communications equipment provider’s stock worth $1,179,000 after purchasing an additional 23,993 shares during the period. Goldman Sachs Group Inc. lifted its holdings in NETGEAR by 15.5% in the first quarter. Goldman Sachs Group Inc. now owns 279,874 shares of the communications equipment provider’s stock worth $6,846,000 after purchasing an additional 37,469 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in NETGEAR by 13.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,146 shares of the communications equipment provider’s stock worth $1,814,000 after purchasing an additional 9,021 shares during the period. Legal & General Group Plc lifted its holdings in NETGEAR by 5.4% in the second quarter. Legal & General Group Plc now owns 34,690 shares of the communications equipment provider’s stock worth $1,008,000 after purchasing an additional 1,788 shares during the period. Finally, Rhumbline Advisers lifted its holdings in NETGEAR by 2.3% in the second quarter. Rhumbline Advisers now owns 51,678 shares of the communications equipment provider’s stock worth $1,502,000 after purchasing an additional 1,140 shares during the period. Institutional investors own 82.97% of the company’s stock.

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.