Vetr upgraded shares of Netgear Inc. (NASDAQ:NTGR) from a buy rating to a strong-buy rating in a report published on Tuesday morning. The firm currently has $60.73 target price on the stock.
A number of other equities research analysts have also recently weighed in on the company. BWS Financial cut Netgear from a buy rating to a hold rating and reduced their price objective for the company from $64.00 to $60.00 in a research note on Monday, October 3rd. Rosenblatt Securities reiterated a neutral rating and issued a $61.00 price objective (up previously from $55.00) on shares of Netgear in a research note on Wednesday, September 28th. Zacks Investment Research cut Netgear from a strong-buy rating to a hold rating in a research note on Wednesday, September 28th. Wunderlich boosted their price objective on Netgear from $58.00 to $66.00 and gave the company a buy rating in a research note on Thursday, September 8th. Finally, Citigroup Inc. cut Netgear to a neutral rating and set a $47.50 price objective for the company. in a research note on Tuesday, July 12th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $53.36.
Netgear (NASDAQ:NTGR) opened at 54.10 on Tuesday. The stock has a 50 day moving average of $57.55 and a 200-day moving average of $48.78. The company has a market capitalization of $1.77 billion, a PE ratio of 25.74 and a beta of 1.92. Netgear has a 12-month low of $31.65 and a 12-month high of $60.82.
Netgear (NASDAQ:NTGR) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.12. Netgear had a return on equity of 12.06% and a net margin of 5.25%. The company earned $311.66 million during the quarter, compared to analysts’ expectations of $298.87 million. During the same quarter in the previous year, the business earned $0.29 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities analysts expect that Netgear will post $2.96 earnings per share for the current year.
In related news, SVP Tamesa Rogers sold 650 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $52.25, for a total transaction of $33,962.50. Following the transaction, the senior vice president now owns 13,525 shares of the company’s stock, valued at $706,681.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christine Marie Gorjanc sold 7,329 shares of the company’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of $50.07, for a total value of $366,963.03. Following the transaction, the chief financial officer now directly owns 80,404 shares in the company, valued at approximately $4,025,828.28. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC raised its position in shares of Netgear by 39.7% in the second quarter. FMR LLC now owns 2,866,848 shares of the company’s stock worth $136,290,000 after buying an additional 814,166 shares in the last quarter. Riverhead Capital Management LLC raised 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 $14,271,000. Rothschild Asset Management Inc. acquired a new position in shares of Netgear during the second quarter worth $13,343,000. Finally, Prudential Financial Inc. raised 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. 99.48% of the stock is currently owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Netgear Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netgear Inc. and related companies with MarketBeat.com's FREE daily email newsletter.