NETGEAR (NASDAQ:NTGR) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

NETGEAR, Inc. (NASDAQ:NTGR)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $23.75 and traded as high as $26.11. NETGEAR shares last traded at $26.09, with a volume of 294,270 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d)” rating on shares of NETGEAR in a research note on Friday, March 27th. Wall Street Zen raised NETGEAR from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Stifel Nicolaus set a $36.00 price objective on NETGEAR in a research note on Thursday, February 5th. Finally, Zacks Research raised NETGEAR from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $36.00.

NETGEAR Stock Up 1.2%

The stock has a market cap of $700.26 million, a PE ratio of -29.65 and a beta of 1.18. The company has a fifty day moving average price of $24.39 and a 200 day moving average price of $23.75.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, April 29th. The communications equipment provider reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.14. The firm had revenue of $158.82 million for the quarter, compared to the consensus estimate of $152.49 million. NETGEAR had a negative return on equity of 2.71% and a negative net margin of 3.58%.The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.02 earnings per share. As a group, research analysts predict that NETGEAR, Inc. will post -0.59 earnings per share for the current year.

Insider Activity at NETGEAR

In other news, insider Pramod Badjate sold 3,000 shares of NETGEAR stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $25.47, for a total value of $76,410.00. Following the transaction, the insider owned 165,513 shares in the company, valued at approximately $4,215,616.11. The trade was a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Allianz Asset Management GmbH increased its holdings in NETGEAR by 169.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 109,322 shares of the communications equipment provider’s stock valued at $3,541,000 after purchasing an additional 68,683 shares during the period. Leuthold Group LLC purchased a new position in NETGEAR during the 3rd quarter valued at about $3,309,000. Cinctive Capital Management LP purchased a new position in NETGEAR during the 3rd quarter valued at about $6,433,000. Sierra Summit Advisors LLC purchased a new position in NETGEAR during the 3rd quarter valued at about $1,079,000. Finally, First Eagle Investment Management LLC increased its holdings in NETGEAR by 27.6% during the 3rd quarter. First Eagle Investment Management LLC now owns 150,393 shares of the communications equipment provider’s stock valued at $4,871,000 after purchasing an additional 32,500 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

NETGEAR Company Profile

NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.