NetGear, Inc. (NTGR) Given Consensus Recommendation of “Hold” by Brokerages

NetGear, Inc. (NASDAQ:NTGR) has been assigned a consensus recommendation of “Hold” from the eight analysts that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $61.50.

A number of research firms have commented on NTGR. ValuEngine lowered shares of NetGear from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Zacks Investment Research upgraded shares of NetGear from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Tuesday. Finally, BidaskClub lowered shares of NetGear from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th.

In other NetGear news, Chairman Patrick Cs Lo sold 11,588 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $33.75, for a total value of $391,095.00. Following the completion of the sale, the chairman now owns 196,283 shares of the company’s stock, valued at $6,624,551.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Tamesa Rogers sold 1,987 shares of the company’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $39.45, for a total transaction of $78,387.15. The disclosure for this sale can be found here. Insiders have sold 45,627 shares of company stock worth $1,659,576 over the last quarter. 5.10% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc lifted its stake in shares of NetGear by 2.3% during the 3rd quarter. Vanguard Group Inc now owns 3,125,034 shares of the communications equipment provider’s stock worth $196,410,000 after buying an additional 71,021 shares during the last quarter. Marshall Wace North America L.P. bought a new position in NetGear in the 3rd quarter valued at about $212,000. Vanguard Group Inc. increased its holdings in NetGear by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,125,034 shares of the communications equipment provider’s stock valued at $196,410,000 after buying an additional 71,021 shares during the period. Morgan Stanley increased its holdings in NetGear by 73.5% in the 3rd quarter. Morgan Stanley now owns 234,066 shares of the communications equipment provider’s stock valued at $14,711,000 after buying an additional 99,152 shares during the period. Finally, Legal & General Group Plc increased its holdings in NetGear by 9.0% in the 3rd quarter. Legal & General Group Plc now owns 74,289 shares of the communications equipment provider’s stock valued at $4,668,000 after buying an additional 6,114 shares during the period. 99.99% of the stock is owned by hedge funds and other institutional investors.

Shares of NTGR stock traded down $0.28 on Friday, hitting $34.32. The company’s stock had a trading volume of 1,890 shares, compared to its average volume of 251,938. The firm has a market cap of $1.09 billion, a PE ratio of 19.75 and a beta of 1.81. NetGear has a fifty-two week low of $31.80 and a fifty-two week high of $78.30.

NetGear (NASDAQ:NTGR) last posted its earnings results on Wednesday, February 6th. The communications equipment provider reported $0.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.26). The business had revenue of $288.90 million during the quarter, compared to the consensus estimate of $409.26 million. NetGear had a negative net margin of 0.19% and a positive return on equity of 8.66%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.71 EPS. Sell-side analysts anticipate that NetGear will post 2.52 earnings per share for the current fiscal year.

NetGear Company Profile

NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. It operates in two segments, Connected Home, and Small and Medium Business. The company offers smart home/connected home/broadband access products, such as broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, WiFi network adapters, and digital canvasses; and value added service offerings, including technical support, parental controls, and cybersecurity protection.

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