Brokerages Set NetGear, Inc. (NTGR) Price Target at $67.67
NetGear, Inc. (NASDAQ:NTGR) has been given a consensus rating of “Buy” by the six research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $67.67.
Several equities analysts have recently commented on NTGR shares. ValuEngine upgraded NetGear from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Guggenheim restated a “buy” rating and issued a $76.00 price objective on shares of NetGear in a research report on Friday, April 27th. BidaskClub downgraded NetGear from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. BWS Financial boosted their price objective on NetGear from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, July 9th. Finally, Zacks Investment Research upgraded NetGear from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 27th.
In other news, Chairman Patrick Cs Lo sold 13,999 shares of NetGear stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $60.55, for a total value of $847,639.45. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Michael F. Falcon sold 521 shares of NetGear stock in a transaction dated Thursday, May 24th. The stock was sold at an average price of $60.50, for a total value of $31,520.50. Following the completion of the sale, the senior vice president now directly owns 43,403 shares in the company, valued at $2,625,881.50. The disclosure for this sale can be found here. Insiders sold 56,573 shares of company stock worth $3,634,788 over the last 90 days. Company insiders own 5.10% of the company’s stock.
Shares of NetGear stock traded up $0.35 during trading hours on Friday, hitting $67.40. The company’s stock had a trading volume of 202,487 shares, compared to its average volume of 611,039. NetGear has a 12-month low of $44.10 and a 12-month high of $78.30. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of 29.05 and a beta of 1.99.
NetGear (NASDAQ:NTGR) last announced its quarterly earnings data on Monday, July 23rd. The communications equipment provider reported $0.57 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $366.80 million for the quarter, compared to the consensus estimate of $350.60 million. During the same period in the previous year, the business earned $0.60 earnings per share. The business’s revenue was up 10.9% on a year-over-year basis. analysts forecast that NetGear will post 2.2 earnings per share for the current year.
NETGEAR, Inc engages in the provision of Internet connected products to consumers, businesses, and service providers. It operates through the following business segments: Arlo, Connected Home, and SMB. The Arlo segment offers internet-connected products for consumers and businesses that provide security and safety.
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