NETGEAR (NASDAQ:NTGR) Raised to “Hold” at Zacks Research

NETGEAR (NASDAQ:NTGR) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently commented on NTGR. Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a research report on Monday, December 29th. Wall Street Zen cut shares of NETGEAR from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Finally, Stifel Nicolaus set a $36.00 target price on NETGEAR in a research report on Thursday, February 5th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, NETGEAR presently has a consensus rating of “Hold” and a consensus target price of $36.00.

NETGEAR Trading Up 1.0%

Shares of NTGR opened at $21.35 on Tuesday. The business’s 50 day moving average is $21.59 and its 200 day moving average is $26.15. NETGEAR has a 12-month low of $18.75 and a 12-month high of $36.86. The company has a market capitalization of $600.21 million, a PE ratio of -34.43 and a beta of 1.16.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings results on Wednesday, February 4th. The communications equipment provider reported $0.26 earnings per share 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 the consensus estimate of $177.26 million. During the same period in the prior year, the company posted ($0.06) EPS. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. Equities research analysts predict that NETGEAR will post -1.84 earnings per share for the current year.

Insider Activity at NETGEAR

In other news, insider Pramod Badjate sold 3,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider directly owned 144,586 shares of the company’s stock, valued at approximately $3,031,968.42. This trade represents a 2.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.30% of the company’s stock.

Institutional Trading of NETGEAR

A number of hedge funds have recently added to or reduced their stakes in NTGR. Amundi boosted its position in NETGEAR by 99.1% during the 1st quarter. Amundi now owns 48,211 shares of the communications equipment provider’s stock valued at $1,179,000 after acquiring an additional 23,993 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of NETGEAR by 15.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 279,874 shares of the communications equipment provider’s stock worth $6,846,000 after acquiring an additional 37,469 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of NETGEAR by 13.9% during the 1st 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 last quarter. Campbell & CO Investment Adviser LLC bought a new stake in NETGEAR during the second quarter valued at about $277,000. Finally, Jupiter Asset Management Ltd. purchased a new stake in NETGEAR during the second quarter valued at approximately $1,434,000. 82.97% of the stock is owned by hedge funds and other 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.