NetGear (NTGR) Downgraded by BidaskClub to “Buy”
BidaskClub cut shares of NetGear (NASDAQ:NTGR) from a strong-buy rating to a buy rating in a report released on Wednesday morning.
Other equities research analysts have also recently issued reports about the stock. BWS Financial raised shares of NetGear from a hold rating to a buy rating and set a $60.00 target price on the stock in a report on Monday, October 9th. Zacks Investment Research raised shares of NetGear from a sell rating to a hold rating in a report on Friday, December 22nd. Finally, Raymond James Financial raised shares of NetGear from a market perform rating to an outperform rating and set a $62.00 target price on the stock in a report on Monday, December 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The company has an average rating of Buy and an average price target of $62.60.
Shares of NetGear (NTGR) opened at $58.20 on Wednesday. The stock has a market cap of $1,800.00, a PE ratio of 26.45 and a beta of 1.52. NetGear has a fifty-two week low of $41.50 and a fifty-two week high of $61.35.
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, beating the Zacks’ consensus estimate of $0.68 by $0.13. The company had revenue of $355.48 million for the quarter, compared to analysts’ expectations of $349.36 million. NetGear had a net margin of 5.33% and a return on equity of 10.57%. NetGear’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 EPS. equities analysts predict that NetGear will post 2.24 EPS for the current year.
In other NetGear news, SVP Tamesa Rogers sold 1,500 shares of the stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $49.80, for a total value of $74,700.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Patrick Cs Lo sold 19,799 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $47.63, for a total transaction of $943,026.37. Following the completion of the transaction, the chairman now directly owns 183,125 shares in the company, valued at $8,722,243.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,888 shares of company stock worth $5,028,731. 6.20% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Dean Investment Associates LLC bought a new position in NetGear in the 3rd quarter valued at about $3,688,000. California Public Employees Retirement System raised its holdings in NetGear by 6.9% in the 3rd quarter. California Public Employees Retirement System now owns 73,969 shares of the communications equipment provider’s stock valued at $3,521,000 after acquiring an additional 4,769 shares during the period. Cubist Systematic Strategies LLC bought a new position in NetGear in the 3rd quarter valued at about $315,000. Vident Investment Advisory LLC raised its holdings in NetGear by 2.8% in the 3rd quarter. Vident Investment Advisory LLC now owns 44,518 shares of the communications equipment provider’s stock valued at $2,119,000 after acquiring an additional 1,209 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in NetGear in the 3rd quarter valued at about $361,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.
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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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