BWS Financial upgraded shares of NETGEAR, Inc. (NASDAQ:NTGR) from a hold rating to a buy rating in a report issued on Monday, October 9th. They currently have $60.00 price objective on the communications equipment provider’s stock. BWS Financial also issued estimates for NETGEAR’s Q3 2017 earnings at $0.54 EPS and FY2017 earnings at $2.26 EPS.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut NETGEAR from a hold rating to a sell rating in a research note on Wednesday, August 2nd. Global Equities Research reiterated a buy rating and issued a $85.00 price target on shares of NETGEAR in a research note on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $62.13.
NETGEAR (NASDAQ NTGR) opened at 49.30 on Monday. The stock has a market cap of $1.56 billion, a PE ratio of 22.63 and a beta of 1.53. The firm has a 50 day moving average of $48.68 and a 200-day moving average of $46.52. NETGEAR has a 52-week low of $41.50 and a 52-week high of $59.93.
NETGEAR (NASDAQ:NTGR) last posted its earnings results on Wednesday, July 26th. The communications equipment provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.54 by $0.06. The company had revenue of $330.72 million for the quarter, compared to the consensus estimate of $324.64 million. NETGEAR had a return on equity of 10.67% and a net margin of 5.42%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.72 earnings per share. Equities analysts anticipate that NETGEAR will post $2.73 earnings per share for the current fiscal year.
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In other NETGEAR news, insider Mark G. Merrill sold 3,000 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $50.70, for a total transaction of $152,100.00. Following the completion of the sale, the insider now directly owns 32,534 shares in the company, valued at $1,649,473.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Patrick Cs Lo sold 4,000 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $45.00, for a total value of $180,000.00. Following the sale, the chairman now owns 183,125 shares of the company’s stock, valued at $8,240,625. The disclosure for this sale can be found here. Insiders have sold 91,722 shares of company stock valued at $4,412,277 over the last 90 days. Corporate insiders own 6.20% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. lifted its stake in shares of NETGEAR by 17.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,080 shares of the communications equipment provider’s stock valued at $103,000 after acquiring an additional 304 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of NETGEAR by 42.8% in the 1st quarter. Victory Capital Management Inc. now owns 2,724 shares of the communications equipment provider’s stock valued at $135,000 after acquiring an additional 817 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of NETGEAR in the 1st quarter valued at $139,000. US Bancorp DE lifted its stake in shares of NETGEAR by 9.2% in the 1st quarter. US Bancorp DE now owns 3,243 shares of the communications equipment provider’s stock valued at $161,000 after acquiring an additional 272 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. lifted its stake in shares of NETGEAR by 364.8% in the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 3,500 shares of the communications equipment provider’s stock valued at $173,000 after acquiring an additional 2,747 shares during the last quarter. Hedge funds and other institutional investors own 98.89% of the company’s stock.
NETGEAR Company Profile
NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.
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