NETGEAR, Inc. (NASDAQ:NTGR) Receives Average Rating of “Hold” from Analysts

Shares of NETGEAR, Inc. (NASDAQ:NTGR) have been given a consensus recommendation of “Hold” by the four ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $36.00.

NTGR has been the topic of a number of research reports. Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a report on Wednesday, June 24th. Wall Street Zen raised NETGEAR from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Zacks Research upgraded NETGEAR from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th.

NETGEAR Price Performance

Shares of NTGR stock opened at $21.50 on Friday. NETGEAR has a 12-month low of $19.00 and a 12-month high of $36.86. The firm has a fifty day moving average of $24.75 and a 200-day moving average of $23.30. The company has a market capitalization of $577.06 million, a price-to-earnings ratio of -24.43 and a beta of 1.19.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings data on Wednesday, April 29th. The communications equipment provider reported $0.06 EPS for the quarter, beating the consensus estimate 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 net margin of 3.58% and a negative return on equity of 2.71%. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.02 EPS. On average, equities analysts expect that NETGEAR will post -0.5 EPS for the current year.

Insider Buying and Selling at NETGEAR

In related news, Director Shravan Goli sold 3,381 shares of the stock in a transaction 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 completion of the transaction, the director owned 25,857 shares in the company, valued at approximately $695,294.73. This represents a 11.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sarah Butterfass sold 2,704 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $26.90, for a total transaction of $72,737.60. Following the completion of the transaction, the director directly owned 38,953 shares of the company’s stock, valued at approximately $1,047,835.70. This trade represents a 6.49% decrease in their position. 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. In the last three months, insiders sold 12,085 shares of company stock worth $318,703. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in shares of NETGEAR by 71.5% during the 1st quarter. Bank of America Corp DE now owns 240,730 shares of the communications equipment provider’s stock worth $5,258,000 after purchasing an additional 100,368 shares in the last quarter. Royal Bank of Canada increased its holdings in 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 buying an additional 19,019 shares during the last quarter. Empowered Funds LLC increased its holdings in 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 buying an additional 21,469 shares during the last quarter. Renaissance Technologies LLC raised its position in NETGEAR by 77.8% during the first 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 in the last quarter. Finally, Caxton Associates LLP raised its position in NETGEAR by 137.7% during the first quarter. Caxton Associates LLP now owns 55,950 shares of the communications equipment provider’s stock worth $1,222,000 after acquiring an additional 32,415 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

NETGEAR Company Profile

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.