Brokerages Set NETGEAR, Inc. (NASDAQ:NTGR) Target Price at $36.50

NETGEAR, Inc. (NASDAQ:NTGR) has received a consensus recommendation of “Hold” from the four ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $36.50.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a research note on Wednesday, June 24th.

Insiders Place Their Bets

In other news, Director Sarah Butterfass sold 2,704 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $26.90, for a total value of $72,737.60. Following the transaction, the director owned 38,953 shares in the company, valued at approximately $1,047,835.70. This represents a 6.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Laura Durr sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $26.76, for a total value of $26,760.00. Following the sale, the director directly owned 42,059 shares in the company, valued at $1,125,498.84. This trade represents a 2.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 12,085 shares of company stock valued at $313,933 over the last quarter. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On NETGEAR

Several hedge funds have recently added to or reduced their stakes in NTGR. Renaissance Technologies LLC boosted its holdings in shares of NETGEAR by 77.8% in the 1st quarter. Renaissance Technologies LLC now owns 557,462 shares of the communications equipment provider’s stock valued at $12,175,000 after buying an additional 243,843 shares in the last quarter. Concentric Capital Strategies LP purchased a new stake in NETGEAR in the fourth quarter valued at $7,020,000. Anchor Capital Advisors LLC purchased a new stake in NETGEAR in the fourth quarter valued at $2,131,000. Hara Capital LLC acquired a new position in NETGEAR in the second quarter valued at $1,456,000. Finally, OP Asset Management Ltd purchased a new position in shares of NETGEAR during the first quarter worth about $5,266,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

NETGEAR Stock Performance

NTGR stock opened at $21.09 on Monday. The company’s 50 day moving average price is $23.00 and its 200 day moving average price is $23.35. NETGEAR has a fifty-two week low of $19.00 and a fifty-two week high of $36.86. The firm has a market capitalization of $573.23 million, a price-to-earnings ratio of -22.68 and a beta of 1.20.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings results on Thursday, August 6th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.15. NETGEAR had a negative net margin of 3.71% and a negative return on equity of 2.79%. The company had revenue of $168.56 million during the quarter, compared to the consensus estimate of $157.80 million. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. Equities analysts forecast that NETGEAR will post -0.52 EPS for the current fiscal year.

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.