NetGear (NASDAQ:NTGR) was upgraded by investment analysts at Raymond James Financial from a “market perform” rating to an “outperform” rating in a research note issued to investors on Monday.

A number of other equities research analysts have also commented on NTGR. BidaskClub upgraded NetGear from a “hold” rating to a “buy” rating in a research report on Thursday. BWS Financial upgraded NetGear from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Monday, October 9th. Finally, Zacks Investment Research lowered NetGear from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. Two investment analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. NetGear has an average rating of “Hold” and a consensus price target of $62.75.

Shares of NetGear (NASDAQ:NTGR) opened at $55.35 on Monday. The company has a market capitalization of $1,741.86, a P/E ratio of 22.23 and a beta of 1.52. NetGear has a 52-week low of $41.50 and a 52-week high of $58.50.

NetGear (NASDAQ:NTGR) last issued its earnings results on Wednesday, October 25th. The communications equipment provider reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.13. The firm had revenue of $355.48 million for the quarter, compared to analyst estimates of $349.36 million. NetGear had a return on equity of 10.57% and a net margin of 5.33%. NetGear’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 earnings per share. analysts expect that NetGear will post 2.24 earnings per share for the current fiscal year.

In other NetGear news, SVP Tamesa Rogers sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $45.40, for a total value of $68,100.00. Following the sale, the senior vice president now owns 23,781 shares in the company, valued at approximately $1,079,657.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Patrick Cs Lo sold 19,799 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $47.63, for a total value of $943,026.37. Following the completion of the sale, the chairman now owns 183,125 shares in the company, valued at approximately $8,722,243.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 99,888 shares of company stock worth $4,866,581. Insiders own 6.20% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in NTGR. Royce & Associates LP boosted its position in NetGear by 43,220.6% in the 2nd quarter. Royce & Associates LP now owns 779,771 shares of the communications equipment provider’s stock worth $33,608,000 after purchasing an additional 777,971 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of NetGear by 33.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,720,748 shares of the communications equipment provider’s stock worth $74,165,000 after buying an additional 429,429 shares during the period. Alliancebernstein L.P. raised its stake in shares of NetGear by 28.2% during the 2nd quarter. Alliancebernstein L.P. now owns 1,417,760 shares of the communications equipment provider’s stock worth $61,105,000 after buying an additional 311,735 shares during the period. Marshall Wace North America L.P. acquired a new position in shares of NetGear during the 2nd quarter worth approximately $12,722,000. Finally, Northern Trust Corp raised its stake in shares of NetGear by 55.1% during the 2nd quarter. Northern Trust Corp now owns 773,995 shares of the communications equipment provider’s stock worth $33,359,000 after buying an additional 274,952 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

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About NetGear

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.

Analyst Recommendations for NetGear (NASDAQ:NTGR)

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