Netgear Inc. (NTGR) Downgraded by Vetr Inc.
Vetr lowered shares of Netgear Inc. (NASDAQ:NTGR) from a buy rating to a hold rating in a research report report published on Monday morning. They currently have $59.59 target price on the stock.
Several other research analysts have also recently weighed in on the company. Wunderlich boosted their price objective on Netgear from $58.00 to $66.00 and gave the stock a buy rating in a research report on Thursday, September 8th. Zacks Investment Research raised Netgear from a hold rating to a strong-buy rating and set a $61.00 price target on the stock in a research report on Tuesday, August 2nd. BWS Financial upped their price target on Netgear from $50.00 to $64.00 and gave the company a buy rating in a research report on Thursday, July 28th. Rosenblatt Securities cut Netgear from a buy rating to a neutral rating and set a $47.50 price target on the stock. in a research report on Tuesday, July 12th. Finally, Citigroup Inc. cut Netgear to a neutral rating and set a $47.50 price target on the stock. in a research report on Tuesday, July 12th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Netgear presently has a consensus rating of Buy and a consensus price target of $52.34.
Netgear (NASDAQ:NTGR) opened at 59.50 on Monday. Netgear has a 52-week low of $28.52 and a 52-week high of $59.75. The company has a market cap of $1.95 billion, a PE ratio of 28.31 and a beta of 1.84. The firm has a 50-day moving average price of $56.34 and a 200-day moving average price of $46.99.
Netgear (NASDAQ:NTGR) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.12. Netgear had a return on equity of 12.06% and a net margin of 5.25%. The business had revenue of $311.66 million for the quarter, compared to analysts’ expectations of $298.87 million. During the same quarter in the previous year, the firm earned $0.29 earnings per share. The business’s revenue was up 7.9% on a year-over-year basis. On average, analysts forecast that Netgear will post $2.95 EPS for the current year.
In other Netgear news, SVP Tamesa Rogers sold 650 shares of the company’s stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $46.29, for a total value of $30,088.50. Following the transaction, the senior vice president now directly owns 13,901 shares in the company, valued at approximately $643,477.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jef Graham sold 8,333 shares of the company’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $45.12, for a total value of $375,984.96. Following the completion of the transaction, the director now owns 4,394 shares in the company, valued at $198,257.28. The disclosure for this sale can be found here. 5.40% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Macquarie Group Ltd. raised its position in shares of Netgear by 27.4% in the second quarter. Macquarie Group Ltd. now owns 293,992 shares of the company’s stock valued at $13,976,000 after buying an additional 63,259 shares during the period. Mason Street Advisors LLC purchased a new position in shares of Netgear during the second quarter valued at approximately $303,000. Royal Bank of Canada raised its position in shares of Netgear by 63.8% in the second quarter. Royal Bank of Canada now owns 5,740 shares of the company’s stock valued at $273,000 after buying an additional 2,235 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Netgear by 8.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 339,175 shares of the company’s stock valued at $16,125,000 after buying an additional 26,881 shares during the period. Finally, Amalgamated Bank purchased a new position in shares of Netgear during the second quarter valued at approximately $208,000. Institutional investors and hedge funds own 99.48% of the company’s stock.
Netgear Company Profile
NETGEAR, Inc is a global networking company. The Company’s product line consists of devices, such as network attached storage, Internet protocol security cameras, and home automation devices and services. Its segments include retail, commercial and service provider. The retail business unit consists of home networking, home video security, storage and digital media products.
To view Vetr’s full report, visit Vetr’s official website.
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