Netgear Inc. (NTGR) Stock Price Up 2.6%
Shares of Netgear Inc. (NASDAQ:NTGR) rose 2.6% on Monday . The stock traded as high as $59.40 and last traded at $59.11, with a volume of 160,209 shares changing hands. The stock had previously closed at $57.61.
NTGR has been the topic of several recent analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $47.50 target price on shares of Netgear in a research note on Thursday, June 9th. Wunderlich initiated coverage on Netgear in a research note on Wednesday, June 8th. They set a “buy” rating and a $55.00 target price on the stock. BWS Financial lifted their target price on Netgear from $50.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Vetr raised Netgear from a “sell” rating to a “buy” rating and set a $59.59 target price on the stock in a research note on Tuesday, September 13th. Finally, Zacks Investment Research downgraded Netgear from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Netgear has a consensus rating of “Buy” and an average target price of $52.18.
The company has a market cap of $1.93 billion, a P/E ratio of 28.02 and a beta of 1.84. The stock has a 50 day moving average price of $55.97 and a 200 day moving average price of $46.77.
Netgear (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, beating the 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 company had revenue of $311.66 million for the quarter, compared to analyst estimates of $298.87 million. During the same period in the prior year, the company posted $0.29 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts anticipate that Netgear Inc. will post $2.95 EPS for the current fiscal year.
In other news, SVP Michael F. Falcon sold 521 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $49.75, for a total value of $25,919.75. Following the sale, the senior vice president now directly owns 35,870 shares in the company, valued at approximately $1,784,532.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael F. Falcon sold 16,509 shares of the company’s stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $48.00, for a total value of $792,432.00. Following the completion of the sale, the senior vice president now owns 52,772 shares in the company, valued at $2,533,056. The disclosure for this sale can be found here. 5.40% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in NTGR. Nisa Investment Advisors LLC raised its stake in Netgear by 0.5% in the second quarter. Nisa Investment Advisors LLC now owns 30,350 shares of the company’s stock valued at $1,443,000 after buying an additional 150 shares in the last quarter. PineBridge Investments L.P. raised its stake in Netgear by 4.3% in the second quarter. PineBridge Investments L.P. now owns 4,130 shares of the company’s stock worth $197,000 after buying an additional 169 shares during the period. O Shaughnessy Asset Management LLC raised its stake in Netgear by 3.3% in the second quarter. O Shaughnessy Asset Management LLC now owns 6,198 shares of the company’s stock worth $295,000 after buying an additional 199 shares during the period. Clinton Group Inc. raised its stake in Netgear by 2.8% in the second quarter. Clinton Group Inc. now owns 10,384 shares of the company’s stock worth $494,000 after buying an additional 281 shares during the period. Finally, Suntrust Banks Inc. raised its stake in Netgear by 5.7% in the second quarter. Suntrust Banks Inc. now owns 5,368 shares of the company’s stock worth $255,000 after buying an additional 289 shares during the period. Institutional investors own 94.80% of the company’s stock.
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.
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