NetGear, Inc. (NTGR) Receives $72.50 Consensus Target Price from Brokerages

Shares of NetGear, Inc. (NASDAQ:NTGR) have been given a consensus recommendation of “Hold” by the seven ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $72.50.

A number of research analysts recently weighed in on the stock. BidaskClub downgraded shares of NetGear from a “hold” rating to a “sell” rating in a research report on Friday, September 21st. ValuEngine downgraded shares of NetGear from a “buy” rating to a “hold” rating in a research report on Friday, September 7th. Raymond James set a $80.00 price objective on shares of NetGear and gave the company a “buy” rating in a research report on Wednesday, September 5th. Guggenheim restated a “buy” rating on shares of NetGear in a research report on Tuesday, August 28th. Finally, TheStreet downgraded shares of NetGear from a “b-” rating to a “c+” rating in a research report on Monday, August 13th.

In other NetGear news, SVP Michael A. Werdann sold 10,930 shares of the company’s stock in a transaction that occurred on Tuesday, July 10th. The shares were sold at an average price of $70.78, for a total transaction of $773,625.40. Following the completion of the sale, the senior vice president now directly owns 34,727 shares of the company’s stock, valued at $2,457,977.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Patrick Cs Lo sold 13,999 shares of the company’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $63.45, for a total transaction of $888,236.55. Following the sale, the chairman now directly owns 203,279 shares of the company’s stock, valued at $12,898,052.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,302 shares of company stock worth $3,888,407. 5.10% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the business. Stevens Capital Management LP purchased a new stake in NetGear during the second quarter valued at approximately $201,000. Principal Financial Group Inc. increased its holdings in NetGear by 0.5% during the first quarter. Principal Financial Group Inc. now owns 511,190 shares of the communications equipment provider’s stock valued at $29,240,000 after buying an additional 2,435 shares during the last quarter. Chicago Equity Partners LLC increased its holdings in NetGear by 91.6% during the second quarter. Chicago Equity Partners LLC now owns 20,980 shares of the communications equipment provider’s stock valued at $1,311,000 after buying an additional 10,030 shares during the last quarter. Symphony Asset Management LLC purchased a new stake in NetGear during the first quarter valued at approximately $427,000. Finally, Laurion Capital Management LP increased its holdings in NetGear by 169.3% during the second quarter. Laurion Capital Management LP now owns 18,800 shares of the communications equipment provider’s stock valued at $1,175,000 after buying an additional 11,820 shares during the last quarter.

Shares of NASDAQ NTGR traded up $0.35 during midday trading on Monday, hitting $63.15. The stock had a trading volume of 2,499 shares, compared to its average volume of 250,481. The company has a market cap of $2.01 billion, a PE ratio of 27.22 and a beta of 2.03. NetGear has a 52 week low of $44.20 and a 52 week high of $78.30.

NetGear (NASDAQ:NTGR) last issued its quarterly earnings data on Monday, July 23rd. The communications equipment provider reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.06. The company had revenue of $366.80 million for the quarter, compared to the consensus estimate of $350.60 million. NetGear had a negative net margin of 0.74% and a positive return on equity of 9.97%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 earnings per share. equities research analysts forecast that NetGear will post 1.36 earnings per share for the current year.

NetGear Company Profile

NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. The company operates in three segments: Arlo, Connected Home, and Small and Medium Business. It offers smart home/connected home/broadband access products, such as remote video security systems, broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, and WiFi network adapters.

See Also: Stop Order Uses For Individual Investors

Receive News & Ratings for NetGear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetGear and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply