Netgear Inc. (NASDAQ:NTGR) SVP Michael F. Falcon sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 11th. The shares were sold at an average price of $54.87, for a total value of $274,350.00. Following the transaction, the senior vice president now directly owns 32,349 shares of the company’s stock, valued at $1,774,989.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Netgear Inc. (NASDAQ:NTGR) opened at 51.78 on Monday. Netgear Inc. has a 52 week low of $31.94 and a 52 week high of $60.82. The firm’s 50-day moving average price is $57.16 and its 200-day moving average price is $48.93. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 24.63 and a beta of 1.92.
Netgear (NASDAQ:NTGR) last released its earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.12. Netgear had a net margin of 5.25% and a return on equity of 12.06%. The business earned $311.66 million during the quarter, compared to analysts’ expectations of $298.87 million. During the same quarter last year, the company earned $0.29 earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis. On average, equities analysts expect that Netgear Inc. will post $2.96 earnings per share for the current year.
Several equities analysts have recently commented on NTGR shares. Vetr raised Netgear from a “sell” rating to a “hold” rating and set a $50.82 target price for the company in a report on Monday, August 1st. Citigroup Inc. lowered Netgear to a “neutral” rating and set a $47.50 target price for the company. in a report on Tuesday, July 12th. They noted that the move was a valuation call. Wunderlich increased their price objective on Netgear from $58.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, September 8th. BWS Financial lowered Netgear from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $64.00 to $60.00 in a report on Monday, October 3rd. Finally, Rosenblatt Securities lowered Netgear from a “buy” rating to a “neutral” rating and set a $47.50 price objective for the company. in a report on Tuesday, July 12th. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $53.36.
Large investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in Netgear by 39.7% in the second quarter. FMR LLC now owns 2,866,848 shares of the company’s stock valued at $136,290,000 after buying an additional 814,166 shares during the last quarter. Riverhead Capital Management LLC boosted its position in shares of Netgear by 5,182.0% in the second quarter. Riverhead Capital Management LLC now owns 439,516 shares of the company’s stock worth $10,807,000 after buying an additional 431,195 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Netgear during the second quarter worth approximately $14,271,000. Rothschild Asset Management Inc. acquired a new position in shares of Netgear during the second quarter worth approximately $13,343,000. Finally, Prudential Financial Inc. boosted its position in shares of Netgear by 77.6% in the first quarter. Prudential Financial Inc. now owns 498,537 shares of the company’s stock worth $20,126,000 after buying an additional 217,800 shares in the last quarter. Institutional investors and hedge funds own 99.37% of the company’s stock.
Netgear Company Profile
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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