Patrick J. Collins III Sells 750 Shares of NetGear, Inc. (NTGR) Stock
NetGear, Inc. (NASDAQ:NTGR) SVP Patrick J. Collins III sold 750 shares of the business’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $60.10, for a total value of $45,075.00. Following the sale, the senior vice president now owns 20,182 shares of the company’s stock, valued at approximately $1,212,938.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of NetGear, Inc. (NASDAQ NTGR) traded up $1.95 during trading hours on Friday, hitting $65.40. The stock had a trading volume of 526,493 shares, compared to its average volume of 505,017. NetGear, Inc. has a 1-year low of $41.50 and a 1-year high of $65.55. The stock has a market cap of $2,060.00, a PE ratio of 29.73 and a beta of 1.53.
NetGear (NASDAQ:NTGR) last issued its earnings results on Wednesday, October 25th. The communications equipment provider reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.13. The business had revenue of $355.48 million during the quarter, compared to analysts’ expectations of $349.36 million. NetGear had a return on equity of 10.57% and a net margin of 5.33%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 EPS. equities analysts predict that NetGear, Inc. will post 2.24 earnings per share for the current fiscal year.
NTGR has been the subject of a number of research reports. Zacks Investment Research cut NetGear from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Raymond James Financial upgraded NetGear from a “market perform” rating to an “outperform” rating and set a $62.00 target price for the company in a report on Monday, December 18th. BidaskClub upgraded NetGear from a “hold” rating to a “buy” rating in a report on Thursday, December 14th. Finally, BWS Financial upgraded 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. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $65.20.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NTGR. Alliancebernstein L.P. boosted its holdings in NetGear by 28.2% in the 2nd quarter. Alliancebernstein L.P. now owns 1,417,760 shares of the communications equipment provider’s stock worth $61,105,000 after acquiring an additional 311,735 shares during the period. Northern Trust Corp boosted its holdings in NetGear by 55.1% in the 2nd quarter. Northern Trust Corp now owns 773,995 shares of the communications equipment provider’s stock worth $33,359,000 after acquiring an additional 274,952 shares during the period. Bank of New York Mellon Corp boosted its holdings in NetGear by 11.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,917,611 shares of the communications equipment provider’s stock worth $91,278,000 after acquiring an additional 196,863 shares during the period. Macquarie Group Ltd. boosted its holdings in NetGear by 35.0% in the 2nd quarter. Macquarie Group Ltd. now owns 593,665 shares of the communications equipment provider’s stock worth $25,587,000 after acquiring an additional 154,070 shares during the period. Finally, Dean Investment Associates LLC purchased a new position in NetGear in the 3rd quarter worth approximately $3,688,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.
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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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