NETGEAR, Inc. (NASDAQ:NTGR) Given Consensus Recommendation of “Hold” by Brokerages

NETGEAR, Inc. (NASDAQ:NTGR) has been given an average recommendation of “Hold” by the four research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $36.50.

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of NETGEAR in a research note on Wednesday, June 24th.

Insider Transactions at NETGEAR

In other NETGEAR news, Director Laura Durr sold 1,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $26.76, for a total value of $26,760.00. Following the sale, the director owned 42,059 shares of the company’s stock, valued at approximately $1,125,498.84. This represents a 2.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pramod Badjate sold 3,000 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $23.88, for a total transaction of $71,640.00. Following the completion of the sale, the insider owned 154,073 shares in the company, valued at $3,679,263.24. This represents a 1.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 12,085 shares of company stock worth $313,933 over the last ninety days. 3.10% of the stock is currently owned by company insiders.

Institutional Trading of NETGEAR

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new position in shares of NETGEAR during the 2nd quarter worth approximately $82,799,000. Vanguard Group Inc. raised its position in shares of NETGEAR by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 2,543,240 shares of the communications equipment provider’s stock worth $62,386,000 after purchasing an additional 74,457 shares during the last quarter. Brandes Investment Partners LP lifted its stake in NETGEAR by 10.8% in the 4th quarter. Brandes Investment Partners LP now owns 1,855,555 shares of the communications equipment provider’s stock valued at $45,517,000 after buying an additional 180,295 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in NETGEAR by 5.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,636,697 shares of the communications equipment provider’s stock valued at $53,010,000 after buying an additional 85,228 shares during the last quarter. Finally, Windward Management LP purchased a new position in NETGEAR during the fourth quarter worth $35,468,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

NETGEAR Stock Performance

Shares of NETGEAR stock opened at $21.02 on Monday. The company has a 50-day moving average of $23.22 and a two-hundred day moving average of $23.34. NETGEAR has a 12-month low of $19.00 and a 12-month high of $36.86. The stock has a market cap of $571.32 million, a PE ratio of -22.60 and a beta of 1.20.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings results on Thursday, August 6th. The communications equipment provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.01 by $0.15. The business had revenue of $168.56 million for the quarter, compared to analyst estimates of $157.80 million. NETGEAR had a negative return on equity of 2.79% and a negative net margin of 3.71%.The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.06 EPS. On average, sell-side analysts forecast that NETGEAR will post -0.52 EPS for the current fiscal year.

About NETGEAR

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.