BWS Financial downgraded shares of Netgear Inc. (NASDAQ:NTGR) from a buy rating to a hold rating in a report published on Monday. BWS Financial currently has $60.00 price target on the stock, down from their prior price target of $64.00.
NTGR has been the subject of a number of other reports. Zacks Investment Research lowered shares of Netgear from a strong-buy rating to a hold rating in a research note on Wednesday, September 28th. 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. Vetr raised shares of Netgear from a hold rating to a buy rating and set a $61.09 target price for the company in a research note on Wednesday, September 21st. Finally, Wunderlich upped their target price on shares of Netgear from $58.00 to $66.00 and gave the stock a buy rating in a research note on Thursday, September 8th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Netgear currently has an average rating of Hold and an average price target of $53.40.
Shares of Netgear (NASDAQ:NTGR) traded down 2.31% during midday trading on Monday, hitting $57.07. The stock had a trading volume of 138,831 shares. The company’s 50 day moving average price is $57.67 and its 200-day moving average price is $48.18. The firm has a market capitalization of $1.87 billion, a PE ratio of 27.15 and a beta of 1.92. Netgear has a 1-year low of $30.59 and a 1-year high of $60.82.
Netgear (NASDAQ:NTGR) last announced its earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.12. The firm 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 company’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 earned $0.29 EPS. Equities analysts predict that Netgear will post $2.96 earnings per share for the current year.
In other news, SVP Michael A. Werdann sold 1,348 shares of the company’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $49.54, for a total value of $66,779.92. Following the sale, the senior vice president now directly owns 24,750 shares of the company’s stock, valued at approximately $1,226,115. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Tamesa Rogers sold 650 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $52.25, for a total transaction of $33,962.50. Following the completion of the sale, the senior vice president now directly owns 13,525 shares in the company, valued at $706,681.25. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of NTGR. Glenmede Trust Co. NA boosted its position in Netgear by 6,330.6% in the first quarter. Glenmede Trust Co. NA now owns 11,575 shares of the company’s stock valued at $466,000 after buying an additional 11,395 shares in the last quarter. Aperio Group LLC boosted its position in Netgear by 5.7% in the first quarter. Aperio Group LLC now owns 8,871 shares of the company’s stock valued at $358,000 after buying an additional 476 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in Netgear during the first quarter valued at $216,000. TIAA CREF Investment Management LLC boosted its position in Netgear by 5.8% in the first quarter. TIAA CREF Investment Management LLC now owns 231,418 shares of the company’s stock valued at $9,342,000 after buying an additional 12,748 shares in the last quarter. Finally, Teachers Advisors Inc. boosted its position in Netgear by 31.1% in the first quarter. Teachers Advisors Inc. now owns 279,231 shares of the company’s stock valued at $11,273,000 after buying an additional 66,305 shares in the last quarter. 99.48% of the stock is currently owned by institutional investors.
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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