NetGear, Inc. (NTGR) Given Average Rating of “Hold” by Analysts

NetGear, Inc. (NASDAQ:NTGR) has earned an average rating of “Hold” from the eight research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $69.33.

A number of equities analysts have recently issued reports on NTGR shares. Guggenheim restated a “buy” rating on shares of NetGear in a research report on Tuesday, August 28th. Raymond James set a $80.00 price objective on NetGear and gave the stock a “buy” rating in a research report on Wednesday, September 5th. TheStreet downgraded NetGear from a “b-” rating to a “c+” rating in a research report on Monday, August 13th. ValuEngine downgraded NetGear from a “buy” rating to a “hold” rating in a research report on Friday, September 7th. Finally, BWS Financial raised their price objective on NetGear from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, July 9th.

In related news, Chairman Patrick Cs Lo sold 13,999 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $61.24, for a total transaction of $857,298.76. Following the completion of the sale, the chairman now owns 207,279 shares of the company’s stock, valued at $12,693,765.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael F. Falcon sold 521 shares of the firm’s stock in a transaction that occurred on Friday, October 12th. The stock was sold at an average price of $55.50, for a total value of $28,915.50. Following the sale, the senior vice president now directly owns 41,326 shares of the company’s stock, valued at approximately $2,293,593. The disclosure for this sale can be found here. Insiders have sold 47,373 shares of company stock valued at $3,080,493 in the last ninety days. 5.10% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NTGR. BTIM Corp. acquired a new stake in NetGear during the second quarter worth approximately $33,528,000. Acadian Asset Management LLC acquired a new stake in NetGear during the second quarter worth approximately $17,811,000. BlackRock Inc. grew its stake in NetGear by 5.5% during the second quarter. BlackRock Inc. now owns 4,566,762 shares of the communications equipment provider’s stock worth $285,423,000 after purchasing an additional 236,386 shares during the period. Millennium Management LLC grew its stake in NetGear by 623.9% during the first quarter. Millennium Management LLC now owns 268,105 shares of the communications equipment provider’s stock worth $15,336,000 after purchasing an additional 231,070 shares during the period. Finally, UBS Group AG grew its stake in NetGear by 342.5% in the first quarter. UBS Group AG now owns 214,527 shares of the communications equipment provider’s stock valued at $12,271,000 after acquiring an additional 166,046 shares during the period.

Shares of NTGR opened at $55.45 on Friday. NetGear has a 1 year low of $44.20 and a 1 year high of $78.30. The stock has a market cap of $2.00 billion, a PE ratio of 23.90 and a beta of 2.04.

NetGear (NASDAQ:NTGR) last issued its quarterly earnings data on Monday, July 23rd. The communications equipment provider reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.06. NetGear had a positive return on equity of 9.97% and a negative net margin of 0.74%. The company had revenue of $366.80 million during the quarter, compared to the consensus estimate of $350.60 million. During the same period last year, the company earned $0.60 earnings per share. The firm’s revenue was up 10.9% compared to the same quarter last year. On average, research analysts predict that NetGear will post 1.36 EPS for the current fiscal year.

About NetGear

NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. The company operates in three segments: Arlo, Connected Home, and Small and Medium Business. It offers smart home/connected home/broadband access products, such as remote video security systems, broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, and WiFi network adapters.

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