NETGEAR, Inc. (NTGR) SVP Sells $50,172.30 in Stock
NETGEAR, Inc. (NASDAQ:NTGR) SVP Michael F. Falcon sold 1,042 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $48.15, for a total value of $50,172.30. Following the completion of the sale, the senior vice president now owns 39,107 shares in the company, valued at approximately $1,883,002.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
NETGEAR, Inc. (NTGR) opened at 47.30 on Friday. NETGEAR, Inc. has a 52 week low of $41.50 and a 52 week high of $60.82. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 21.71 and a beta of 1.54. The stock’s 50 day moving average price is $46.82 and its 200-day moving average price is $47.40.
NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings data on Wednesday, July 26th. The communications equipment provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.54 by $0.06. NETGEAR had a return on equity of 10.67% and a net margin of 5.42%. The business had revenue of $330.72 million for the quarter, compared to the consensus estimate of $324.64 million. During the same quarter in the prior year, the business earned $0.72 earnings per share. NETGEAR’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities research analysts forecast that NETGEAR, Inc. will post $2.74 earnings per share for the current fiscal year.
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A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in NETGEAR by 38,710.4% during the 1st quarter. BlackRock Inc. now owns 4,184,534 shares of the communications equipment provider’s stock valued at $207,344,000 after acquiring an additional 4,173,752 shares during the period. Royce & Associates LP raised its holdings in NETGEAR by 43,220.6% during the 2nd quarter. Royce & Associates LP now owns 779,771 shares of the communications equipment provider’s stock valued at $33,608,000 after acquiring an additional 777,971 shares during the period. Bank of New York Mellon Corp raised its holdings in NETGEAR by 54.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,291,319 shares of the communications equipment provider’s stock valued at $63,985,000 after acquiring an additional 456,929 shares during the period. Alliancebernstein L.P. raised its holdings in NETGEAR by 28.2% during the 2nd quarter. Alliancebernstein L.P. now owns 1,417,760 shares of the communications equipment provider’s stock valued at $61,105,000 after acquiring an additional 311,735 shares during the period. Finally, Marshall Wace North America L.P. bought a new stake in NETGEAR during the 2nd quarter valued at $12,722,000. Institutional investors and hedge funds own 98.85% of the company’s stock.
NTGR has been the topic of several research analyst reports. Global Equities Research restated a “buy” rating and issued a $85.00 price objective on shares of NETGEAR in a research note on Tuesday, June 13th. Zacks Investment Research upgraded NETGEAR from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. NETGEAR currently has a consensus rating of “Hold” and an average price target of $61.97.
NETGEAR Company Profile
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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