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

NetGear, Inc. (NASDAQ:NTGR) has received a consensus recommendation of “Hold” from the eight brokerages that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $69.33.

NTGR has been the subject of a number of research reports. Zacks Investment Research upgraded NetGear from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Friday, January 18th. ValuEngine cut NetGear from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, BidaskClub upgraded NetGear from a “sell” rating to a “hold” rating in a research report on Tuesday, January 1st.

NTGR stock opened at $34.04 on Friday. NetGear has a 1-year low of $31.80 and a 1-year high of $78.30. The firm has a market capitalization of $1.08 billion, a PE ratio of 19.56 and a beta of 1.81.

NetGear (NASDAQ:NTGR) last posted its quarterly earnings results on Wednesday, February 6th. The communications equipment provider reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.26). NetGear had a positive return on equity of 8.66% and a negative net margin of 0.19%. The business had revenue of $288.90 million during the quarter, compared to analysts’ expectations of $409.26 million. During the same quarter in the prior year, the firm earned $0.71 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, research analysts expect that NetGear will post 2.52 EPS for the current fiscal year.

In related news, Chairman Patrick Cs Lo sold 11,588 shares of the company’s stock in a transaction on Tuesday, January 15th. The stock was sold at an average price of $37.26, for a total transaction of $431,768.88. Following the completion of the sale, the chairman now owns 206,590 shares in the company, valued at $7,697,543.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Tamesa Rogers sold 1,987 shares of the company’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $39.45, for a total value of $78,387.15. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,452 shares of company stock valued at $2,139,888. 5.10% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of NTGR. Morgan Stanley increased its position in NetGear by 73.5% during the third quarter. Morgan Stanley now owns 234,066 shares of the communications equipment provider’s stock valued at $14,711,000 after acquiring an additional 99,152 shares during the last quarter. Vanguard Group Inc increased its position in NetGear by 2.3% in the third quarter. Vanguard Group Inc now owns 3,125,034 shares of the communications equipment provider’s stock worth $196,410,000 after buying an additional 71,021 shares in the last quarter. Vanguard Group Inc. increased its position in NetGear by 2.3% in the third quarter. Vanguard Group Inc. now owns 3,125,034 shares of the communications equipment provider’s stock worth $196,410,000 after buying an additional 71,021 shares in the last quarter. Renaissance Technologies LLC increased its position in NetGear by 271.7% in the third quarter. Renaissance Technologies LLC now owns 78,790 shares of the communications equipment provider’s stock worth $4,952,000 after buying an additional 57,590 shares in the last quarter. Finally, BlackRock Inc. increased its position in NetGear by 1.2% in the third quarter. BlackRock Inc. now owns 4,623,187 shares of the communications equipment provider’s stock worth $290,566,000 after buying an additional 56,425 shares in the last quarter. Institutional investors own 99.99% of the company’s stock.

About NetGear

NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. It operates in two segments, Connected Home, and Small and Medium Business. The company offers smart home/connected home/broadband access products, such as broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, WiFi network adapters, and digital canvasses; and value added service offerings, including technical support, parental controls, and cybersecurity protection.

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