Vetr upgraded shares of Netgear Inc. (NASDAQ:NTGR) from a hold rating to a buy rating in a report issued on Tuesday morning. They currently have $60.73 price objective on the stock.
Several other analysts have also issued reports on the stock. BWS Financial lowered shares of Netgear from a buy rating to a hold rating and cut their price target for the company from $64.00 to $60.00 in a research report on Monday, October 3rd. Rosenblatt Securities reiterated a neutral rating and set a $61.00 target price (up from $55.00) on shares of Netgear in a report on Wednesday, September 28th. Zacks Investment Research lowered shares of Netgear from a strong-buy rating to a hold rating in a report on Wednesday, September 28th. Wunderlich increased their target price on shares of Netgear from $58.00 to $66.00 and gave the stock a buy rating in a report on Thursday, September 8th. Finally, Citigroup Inc. lowered shares of 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. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $53.36.
Netgear (NASDAQ:NTGR) opened at 55.23 on Tuesday. The firm’s 50-day moving average price is $57.63 and its 200-day moving average price is $48.50. The firm has a market cap of $1.81 billion, a P/E ratio of 26.27 and a beta of 1.92. Netgear has a 1-year low of $31.65 and a 1-year high of $60.82.
Netgear (NASDAQ:NTGR) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the 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 analyst estimates of $298.87 million. During the same period in the prior year, the business posted $0.29 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. Equities research analysts anticipate that Netgear will post $2.96 earnings per share for the current fiscal year.
In other Netgear news, Chairman Patrick Cs Lo sold 14,200 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $58.67, for a total transaction of $833,114.00. Following the completion of the transaction, the chairman now owns 155,797 shares of the company’s stock, valued at $9,140,609.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Barbara Vaughn Scherer sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $59.09, for a total transaction of $147,725.00. Following the transaction, the director now directly owns 14,536 shares of the company’s stock, valued at approximately $858,932.24. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in NTGR. PNC Financial Services Group Inc. increased its position in shares of Netgear by 949.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,791 shares of the company’s stock worth $133,000 after buying an additional 2,525 shares in the last quarter. Royal Bank of Canada increased its position in shares of Netgear by 33.6% in the first quarter. Royal Bank of Canada now owns 3,505 shares of the company’s stock worth $141,000 after buying an additional 882 shares in the last quarter. Amalgamated Bank acquired a new position in shares of Netgear during the second quarter worth $208,000. PineBridge Investments L.P. increased its position in shares of Netgear by 4.3% in the second quarter. PineBridge Investments L.P. now owns 4,130 shares of the company’s stock worth $197,000 after buying an additional 169 shares in the last quarter. Finally, Acrospire Investment Management LLC acquired a new position in shares of Netgear during the first quarter worth $174,000. 99.48% of the stock is owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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