Rosenblatt Securities restated their neutral rating on shares of Netgear Inc. (NASDAQ:NTGR) in a research report sent to investors on Wednesday. They currently have a $61.00 price target on the stock, up from their prior price target of $55.00.
A number of other research analysts also recently weighed in on the company. Zacks Investment Research downgraded Netgear from a strong-buy rating to a hold rating in a research note on Wednesday, September 28th. Vetr raised Netgear from a hold rating to a buy rating and set a $61.09 price target on the stock in a research note on Wednesday, September 21st. Wunderlich upped their price target on Netgear from $58.00 to $66.00 and gave the stock a buy rating in a research note on Thursday, September 8th. BWS Financial upped their price target on Netgear from $50.00 to $64.00 and gave the stock a buy rating in a research note on Thursday, July 28th. Finally, Citigroup Inc. downgraded 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. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $53.84.
Netgear (NASDAQ:NTGR) opened at 60.49 on Wednesday. The company has a market capitalization of $1.98 billion, a P/E ratio of 28.78 and a beta of 1.92. The stock’s 50 day moving average price is $57.56 and its 200 day moving average price is $47.93. Netgear has a 52 week low of $28.69 and a 52 week 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 for the quarter, topping analysts’ consensus estimates of $0.60 by $0.12. Netgear had a return on equity of 12.06% and a net margin of 5.25%. The business had revenue of $311.66 million for the quarter, compared to the consensus estimate of $298.87 million. During the same period in the prior year, the business earned $0.29 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Analysts anticipate that Netgear will post $2.96 earnings per share for the current year.
In related news, SVP Andrew Wonki Kim sold 665 shares of the stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $55.48, for a total transaction of $36,894.20. Following the completion of the sale, the senior vice president now directly owns 19,835 shares of the company’s stock, valued at $1,100,445.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael F. Falcon sold 521 shares of the stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $57.93, for a total value of $30,181.53. Following the sale, the senior vice president now directly owns 35,870 shares of the company’s stock, valued at $2,077,949.10. The disclosure for this sale can be found here. Corporate insiders own 5.40% of the company’s stock.
Several hedge funds have recently modified their holdings of NTGR. PNC Financial Services Group Inc. raised 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 valued at $133,000 after buying an additional 2,525 shares during the period. Royal Bank of Canada raised 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 valued at $141,000 after buying an additional 882 shares during the period. Acrospire Investment Management LLC purchased a new position in shares of Netgear during the first quarter valued at $174,000. PineBridge Investments L.P. raised 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 valued at $197,000 after buying an additional 169 shares during the period. Finally, Amalgamated Bank purchased a new position in shares of Netgear during the second quarter valued at $208,000. 99.48% of the stock is owned by 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.
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