NETGEAR (NASDAQ:NTGR) Raised to “Hold” at Zacks Research

NETGEAR (NASDAQ:NTGR) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other analysts also recently issued reports on NTGR. Wall Street Zen downgraded NETGEAR from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Weiss Ratings reissued a “sell (d)” rating on shares of NETGEAR in a research report on Monday, December 29th. Finally, Stifel Nicolaus set a $36.00 price objective on shares of NETGEAR in a report on Thursday, February 5th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $36.00.

NETGEAR Trading Up 1.0%

NTGR stock opened at $21.35 on Tuesday. The firm has a 50-day moving average of $21.59 and a two-hundred day moving average of $26.15. NETGEAR has a 12 month low of $18.75 and a 12 month high of $36.86. The company has a market cap of $600.21 million, a price-to-earnings ratio of -34.43 and a beta of 1.16.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings results on Wednesday, February 4th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.21. NETGEAR had a negative return on equity of 2.40% and a negative net margin of 2.56%.The business had revenue of $182.47 million during the quarter, compared to analyst estimates of $177.26 million. During the same period in the prior year, the business earned ($0.06) earnings per share. The business’s revenue was up .0% compared to the same quarter last year. As a group, equities analysts forecast that NETGEAR will post -1.84 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Pramod Badjate sold 3,000 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $20.97, for a total transaction of $62,910.00. Following the completion of the transaction, the insider directly owned 144,586 shares in the company, valued at approximately $3,031,968.42. This represents a 2.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of NETGEAR

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Amundi lifted its position in NETGEAR by 99.1% in the first quarter. Amundi now owns 48,211 shares of the communications equipment provider’s stock valued at $1,179,000 after buying an additional 23,993 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of NETGEAR by 15.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 279,874 shares of the communications equipment provider’s stock worth $6,846,000 after acquiring an additional 37,469 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of NETGEAR by 13.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,146 shares of the communications equipment provider’s stock worth $1,814,000 after purchasing an additional 9,021 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of NETGEAR during the 2nd quarter worth approximately $277,000. Finally, Jupiter Asset Management Ltd. acquired a new stake in NETGEAR in the 2nd quarter valued at approximately $1,434,000. 82.97% of the stock is owned by institutional investors and hedge funds.

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.