NetGear (NASDAQ:NTGR) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Wednesday, ValuEngine reports.

A number of other equities analysts have also issued reports on the stock. Deutsche Bank started coverage on shares of NetGear in a research report on Friday, June 28th. They set a “hold” rating and a $28.00 target price on the stock. BidaskClub raised shares of NetGear from a “strong sell” rating to a “sell” rating in a report on Friday, July 26th. Finally, Guggenheim started coverage on shares of NetGear in a research report on Wednesday, June 19th. They issued a “buy” rating and a $40.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $42.25.

Shares of NASDAQ:NTGR traded up $1.43 during midday trading on Wednesday, reaching $36.50. The company’s stock had a trading volume of 187,289 shares, compared to its average volume of 357,426. The business’s fifty day simple moving average is $33.56 and its 200-day simple moving average is $30.98. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.45 and a quick ratio of 1.57. NetGear has a fifty-two week low of $24.63 and a fifty-two week high of $68.00. The company has a market capitalization of $1.14 billion, a P/E ratio of 20.98 and a beta of 1.70.

NetGear (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, July 24th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.14). The company had revenue of $230.85 million for the quarter, compared to analyst estimates of $224.35 million. NetGear had a return on equity of 7.26% and a net margin of 0.91%. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the company earned $0.29 EPS. On average, analysts forecast that NetGear will post 1.35 earnings per share for the current fiscal year.

In related news, SVP Michael A. Werdann sold 2,234 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $26.03, for a total transaction of $58,151.02. Following the completion of the sale, the senior vice president now directly owns 15,547 shares of the company’s stock, valued at $404,688.41. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP David John Henry sold 1,635 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $26.10, for a total transaction of $42,673.50. Following the sale, the senior vice president now directly owns 24,651 shares of the company’s stock, valued at $643,391.10. The disclosure for this sale can be found here. Insiders have sold 70,020 shares of company stock worth $2,296,968 in the last ninety days. 5.60% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTGR. BlackRock Inc. bought a new stake in shares of NetGear during the 2nd quarter valued at $120,224,000. Vanguard Group Inc. acquired a new position in shares of NetGear in the 2nd quarter valued at $82,673,000. First Trust Advisors LP bought a new position in shares of NetGear in the 2nd quarter worth $58,736,000. Bank of New York Mellon Corp bought a new position in shares of NetGear in the 2nd quarter worth $35,531,000. Finally, Wells Fargo & Company MN bought a new position in shares of NetGear in the 2nd quarter worth $21,359,000. 99.91% of the stock is owned by hedge funds and other institutional investors.

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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