NETGEAR (NASDAQ:NTGR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of NETGEAR (NASDAQ:NTGR) from a sell rating to a hold rating in a research report report published on Sunday,Wall Street Zen reports.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, NETGEAR presently has a consensus rating of “Hold” and a consensus target price of $36.50.

NETGEAR Trading Down 0.8%

NASDAQ:NTGR opened at $21.13 on Friday. The stock has a 50 day moving average of $22.72 and a 200-day moving average of $23.37. The firm has a market capitalization of $574.29 million, a PE ratio of -22.72 and a beta of 1.17. NETGEAR has a 52 week low of $19.00 and a 52 week high of $36.86.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings results on Thursday, August 6th. The communications equipment provider reported $0.16 earnings per share (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 the consensus estimate of $157.80 million. NETGEAR had a negative return on equity of 2.79% and a negative net margin of 3.71%.The business’s revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.06 EPS. As a group, analysts predict that NETGEAR will post -0.52 EPS for the current fiscal year.

Insider Buying and Selling

In other NETGEAR news, insider Pramod Badjate sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $23.88, for a total value of $71,640.00. Following the completion of the sale, the insider directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 3.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NTGR. Amundi raised its position in NETGEAR by 9.8% in the second quarter. Amundi now owns 27,251 shares of the communications equipment provider’s stock worth $636,000 after acquiring an additional 2,421 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of NETGEAR by 4,825.7% during the 2nd quarter. California State Teachers Retirement System now owns 1,339,986 shares of the communications equipment provider’s stock valued at $31,289,000 after purchasing an additional 1,312,782 shares in the last quarter. AXQ Capital LP acquired a new position in shares of NETGEAR in the 2nd quarter worth approximately $388,000. Continuum Advisory LLC acquired a new position in shares of NETGEAR in the 2nd quarter worth approximately $25,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of NETGEAR by 8.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,699 shares of the communications equipment provider’s stock worth $180,000 after purchasing an additional 581 shares during the last quarter. 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.