Insider Selling: NETGEAR, Inc. (NASDAQ:NTGR) SVP Sells 1,042 Shares of Stock

NETGEAR, Inc. (NASDAQ:NTGR) SVP Michael F. Falcon sold 1,042 shares of NETGEAR stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $47.85, for a total transaction of $49,859.70. Following the completion of the sale, the senior vice president now owns 39,107 shares in the company, valued at $1,871,269.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of NETGEAR, Inc. (NASDAQ:NTGR) traded up 0.89% during trading on Friday, reaching $45.50. 207,504 shares of the company were exchanged. The firm’s 50 day moving average price is $45.42 and its 200 day moving average price is $48.24. NETGEAR, Inc. has a one year low of $41.50 and a one year high of $60.82. The company has a market capitalization of $1.44 billion, a PE ratio of 20.88 and a beta of 1.55.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings results on Wednesday, July 26th. The communications equipment provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06. The business had revenue of $330.72 million during the quarter, compared to analyst estimates of $324.64 million. NETGEAR had a return on equity of 10.67% and a net margin of 5.42%. NETGEAR’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 EPS. Equities research analysts forecast that NETGEAR, Inc. will post $2.74 earnings per share for the current fiscal year.

NETGEAR announced that its board has approved a share repurchase plan on Wednesday, April 26th that authorizes the company to repurchase 3,000,000 shares. This repurchase authorization authorizes the communications equipment provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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A number of analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of NETGEAR from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Global Equities Research reiterated a “buy” rating and issued a $85.00 price objective on shares of NETGEAR in a report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $62.48.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in NETGEAR by 38,710.4% in the first quarter. BlackRock Inc. now owns 4,184,534 shares of the communications equipment provider’s stock worth $207,344,000 after buying an additional 4,173,752 shares during the last quarter. Vanguard Group Inc. raised its stake in NETGEAR by 2.3% in the first quarter. Vanguard Group Inc. now owns 3,151,201 shares of the communications equipment provider’s stock worth $156,142,000 after buying an additional 69,931 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in NETGEAR by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,764,602 shares of the communications equipment provider’s stock worth $119,155,000 after buying an additional 66,287 shares during the last quarter. Bank of New York Mellon Corp raised its stake in NETGEAR by 33.3% in the second quarter. Bank of New York Mellon Corp now owns 1,720,748 shares of the communications equipment provider’s stock worth $74,165,000 after buying an additional 429,429 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in NETGEAR by 28.2% in the second quarter. Alliancebernstein L.P. now owns 1,417,760 shares of the communications equipment provider’s stock worth $61,105,000 after buying an additional 311,735 shares during the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

About NETGEAR

NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.

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