Netgear Inc. (NASDAQ:NTGR) Director Barbara Vaughn Scherer sold 2,500 shares of Netgear stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $59.09, for a total transaction of $147,725.00. Following the completion of the sale, the director now directly owns 14,536 shares of the company’s stock, valued at $858,932.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of Netgear Inc. (NASDAQ:NTGR) opened at 58.42 on Tuesday. The stock has a market capitalization of $1.91 billion, a PE ratio of 27.79 and a beta of 1.92. The stock’s 50 day moving average is $57.67 and its 200 day moving average is $48.18. Netgear Inc. has a 52 week low of $30.59 and a 52 week high of $60.82.
Netgear (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.12. The company earned $311.66 million during the quarter, compared to analyst estimates of $298.87 million. Netgear had a net margin of 5.25% and a return on equity of 12.06%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.29 EPS. Analysts anticipate that Netgear Inc. will post $2.96 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its stake in Netgear by 949.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,791 shares of the company’s stock valued at $133,000 after buying an additional 2,525 shares in the last quarter. Royal Bank of Canada raised its stake in Netgear by 33.6% in the first quarter. Royal Bank of Canada now owns 3,505 shares of the company’s stock valued at $141,000 after buying an additional 882 shares in the last quarter. Acrospire Investment Management LLC acquired a new stake in Netgear during the first quarter valued at approximately $174,000. PineBridge Investments L.P. raised its stake in Netgear by 4.3% in the second quarter. PineBridge Investments L.P. now owns 4,130 shares of the company’s stock valued at $197,000 after buying an additional 169 shares in the last quarter. Finally, Amalgamated Bank acquired a new stake in Netgear during the second quarter valued at approximately $208,000. 99.48% of the stock is owned by institutional investors and hedge funds.
Several analysts have commented on the stock. BWS Financial cut shares of Netgear from a “buy” rating to a “hold” rating and lowered their target price for the stock from $64.00 to $60.00 in a research note on Monday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $47.50 target price on shares of Netgear in a research note on Thursday, June 9th. Wunderlich assumed coverage on shares of Netgear in a research note on Wednesday, June 8th. They issued a “buy” rating and a $55.00 target price for the company. Zacks Investment Research raised shares of Netgear from a “hold” rating to a “strong-buy” rating and set a $61.00 target price for the company in a research note on Tuesday, August 2nd. Finally, Vetr raised shares of Netgear from a “sell” rating to a “hold” rating and set a $50.82 target price for the company in a research note on Monday, August 1st. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $53.40.
NETGEAR, Inc is a global networking company. The Company’s product line consists of devices, such as network attached storage, Internet protocol security cameras, and home automation devices and services. Its segments include retail, commercial and service provider. The retail business unit consists of home networking, home video security, storage and digital media products.
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