NETGEAR, Inc. (NASDAQ:NTGR) Receives Consensus Recommendation of “Hold” from Analysts

NETGEAR, Inc. (NASDAQ:NTGR) has been assigned an average recommendation of “Hold” from the four brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $36.00.

Several analysts recently issued reports on the stock. Wall Street Zen upgraded shares of NETGEAR from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a research report on Friday, March 27th. Finally, Zacks Research upgraded NETGEAR from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th.

NETGEAR Stock Performance

Shares of NASDAQ NTGR opened at $24.15 on Wednesday. The stock has a market capitalization of $648.19 million, a P/E ratio of -27.44 and a beta of 1.17. The stock’s fifty day moving average is $25.12 and its 200 day moving average is $23.61. NETGEAR has a 52 week low of $19.00 and a 52 week high of $36.86.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings data on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.14. NETGEAR had a negative net margin of 3.58% and a negative return on equity of 2.71%. The business had revenue of $158.82 million during the quarter, compared to analysts’ expectations of $152.49 million. During the same quarter in the prior year, the business posted $0.02 earnings per share. NETGEAR’s revenue was down 2.0% compared to the same quarter last year. Equities research analysts forecast that NETGEAR will post -0.5 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Shravan Goli sold 3,381 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $26.89, for a total value of $90,915.09. Following the sale, the director directly owned 25,857 shares in the company, valued at approximately $695,294.73. This trade represents a 11.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pramod Badjate sold 3,000 shares of NETGEAR stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $25.47, for a total transaction of $76,410.00. Following the sale, the insider directly owned 165,513 shares in the company, valued at $4,215,616.11. This trade represents a 1.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold a total of 12,085 shares of company stock worth $318,703 over the last 90 days. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of NETGEAR

A number of hedge funds and other institutional investors have recently modified their holdings of NTGR. Bank of America Corp DE increased its holdings in shares of NETGEAR by 71.5% during the first quarter. Bank of America Corp DE now owns 240,730 shares of the communications equipment provider’s stock worth $5,258,000 after buying an additional 100,368 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of NETGEAR by 354.2% during the 1st quarter. Royal Bank of Canada now owns 24,388 shares of the communications equipment provider’s stock valued at $533,000 after acquiring an additional 19,019 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of NETGEAR by 15.5% during the 1st quarter. Empowered Funds LLC now owns 159,905 shares of the communications equipment provider’s stock valued at $3,492,000 after acquiring an additional 21,469 shares in the last quarter. Renaissance Technologies LLC grew its position in NETGEAR by 77.8% during the 1st quarter. Renaissance Technologies LLC now owns 557,462 shares of the communications equipment provider’s stock worth $12,175,000 after acquiring an additional 243,843 shares during the last quarter. Finally, Caxton Associates LLP increased its holdings in NETGEAR by 137.7% in the 1st quarter. Caxton Associates LLP now owns 55,950 shares of the communications equipment provider’s stock worth $1,222,000 after purchasing an additional 32,415 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

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.