NETGEAR, Inc. (NASDAQ:NTGR) shares shot up 0% on Thursday . The stock traded as high as $50.20 and last traded at $49.50. 1,278,895 shares traded hands during mid-day trading, an increase of 165% from the average session volume of 483,376 shares. The stock had previously closed at $49.50.

Several brokerages recently weighed in on NTGR. BWS Financial raised shares of NETGEAR from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Monday, October 9th. Zacks Investment Research downgraded shares of NETGEAR from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $62.75.

The company has a market cap of $1,557.76, a price-to-earnings ratio of 19.88 and a beta of 1.50.

NETGEAR (NASDAQ:NTGR) last issued its earnings results on Wednesday, October 25th. The communications equipment provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.13. The company had revenue of $355.48 million during the quarter, compared to the consensus estimate of $349.36 million. NETGEAR had a net margin of 5.33% and a return on equity of 10.57%. NETGEAR’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 EPS. equities analysts predict that NETGEAR, Inc. will post 2.24 EPS for the current fiscal year.

In other NETGEAR news, Director Barbara Vaughn Scherer sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $52.00, for a total value of $52,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael A. Werdann sold 750 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $45.35, for a total transaction of $34,012.50. Following the completion of the sale, the senior vice president now owns 26,625 shares in the company, valued at approximately $1,207,443.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,927 shares of company stock worth $3,999,510. Corporate insiders own 6.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. raised its position in shares of NETGEAR by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,206 shares of the communications equipment provider’s stock valued at $138,000 after buying an additional 482 shares in the last quarter. Amalgamated Bank purchased a new stake in shares of NETGEAR during the 3rd quarter valued at about $207,000. Palouse Capital Management Inc. purchased a new stake in shares of NETGEAR during the 2nd quarter valued at about $202,000. M&T Bank Corp raised its position in shares of NETGEAR by 31.5% during the 2nd quarter. M&T Bank Corp now owns 5,428 shares of the communications equipment provider’s stock valued at $234,000 after buying an additional 1,300 shares in the last quarter. Finally, K.J. Harrison & Partners Inc purchased a new stake in shares of NETGEAR during the 3rd quarter valued at about $286,000. Institutional investors and hedge funds own 98.18% of the company’s stock.

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NETGEAR Company Profile

NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.

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