Wall Street Zen Upgrades NETGEAR (NASDAQ:NTGR) to “Hold”

NETGEAR (NASDAQ:NTGR) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus set a $36.00 target price on shares of NETGEAR in a research report on Thursday, February 5th. Zacks Research lowered shares of NETGEAR from a “hold” rating to a “strong sell” rating in a research note on Monday, February 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a research report on Monday, December 29th. Finally, Raymond James Financial lifted their target price on shares of NETGEAR from $29.00 to $37.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $36.00.

NETGEAR Stock Performance

Shares of NASDAQ:NTGR opened at $20.87 on Friday. NETGEAR has a 52 week low of $18.75 and a 52 week high of $36.86. The firm has a market cap of $586.66 million, a PE ratio of -33.66 and a beta of 1.15. The firm’s fifty day moving average is $22.50 and its 200-day moving average is $26.55.

NETGEAR (NASDAQ:NTGR) last announced its earnings results on Wednesday, February 4th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.21. NETGEAR had a negative return on equity of 2.40% and a negative net margin of 2.56%.The business had revenue of $182.47 million during the quarter, compared to analyst estimates of $177.26 million. During the same period last year, the company earned ($0.06) EPS. NETGEAR’s revenue for the quarter was up .0% compared to the same quarter last year. Sell-side analysts forecast that NETGEAR will post -1.84 EPS for the current year.

Insider Transactions at NETGEAR

In other NETGEAR news, insider Pramod Badjate sold 3,000 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $20.97, for a total transaction of $62,910.00. Following the completion of the sale, the insider owned 144,586 shares in the company, valued at approximately $3,031,968.42. The trade was a 2.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NTGR. Windward Management LP acquired a new stake in shares of NETGEAR in the 4th quarter worth about $35,468,000. Concentric Capital Strategies LP bought a new stake in NETGEAR during the 4th quarter worth approximately $7,020,000. Lazard Asset Management LLC raised its stake in shares of NETGEAR by 87.6% in the third quarter. Lazard Asset Management LLC now owns 548,911 shares of the communications equipment provider’s stock worth $17,779,000 after purchasing an additional 256,266 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of NETGEAR by 43.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 717,973 shares of the communications equipment provider’s stock valued at $23,255,000 after purchasing an additional 218,347 shares in the last quarter. Finally, Cinctive Capital Management LP bought a new position in shares of NETGEAR in the third quarter valued at approximately $6,433,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.