NETGEAR, Inc. (NASDAQ:NTGR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
According to Zacks, “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. The Company’s segments include retail, commercial and service provider. The retail business unit is focused on individual consumers and consists of whole home wireless fidelity (WiFi) networking solutions and Smart connected products. The commercial business unit is focused on small and medium-sized businesses and consists of business networking, storage and security solutions. The service provider business unit is focused on the service provider market and consists of made-to-order and retail-proven whole home networking hardware and software solutions, including fourth-generation (4G) long term evolution (LTE) hotspots sold to service providers for sale to their subscribers. “
Separately, BWS Financial upgraded NETGEAR from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Monday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $62.13.
NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings data on Wednesday, July 26th. The communications equipment provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.06. The business had revenue of $330.72 million for the quarter, compared to analysts’ expectations of $324.64 million. NETGEAR had a return on equity of 10.67% and a net margin of 5.42%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $0.72 earnings per share.
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In other NETGEAR news, Director Barbara Vaughn Scherer sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $52.00, for a total transaction of $52,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Patrick Cs Lo sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $45.00, for a total value of $180,000.00. Following the transaction, the chairman now directly owns 183,125 shares in the company, valued at approximately $8,240,625. The disclosure for this sale can be found here. Insiders sold 88,722 shares of company stock worth $4,260,177 in the last three months. 6.20% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of NTGR. US Bancorp DE grew its holdings in shares of NETGEAR by 9.2% during the first quarter. US Bancorp DE now owns 3,243 shares of the communications equipment provider’s stock worth $161,000 after purchasing an additional 272 shares during the last quarter. Swiss National Bank grew its holdings in shares of NETGEAR by 1.9% during the first quarter. Swiss National Bank now owns 54,400 shares of the communications equipment provider’s stock worth $2,696,000 after purchasing an additional 1,000 shares during the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of NETGEAR by 16.4% during the first quarter. UBS Asset Management Americas Inc. now owns 15,112 shares of the communications equipment provider’s stock worth $749,000 after purchasing an additional 2,132 shares during the last quarter. Karp Capital Management Corp purchased a new position in shares of NETGEAR during the first quarter worth about $530,000. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of NETGEAR during the first quarter worth about $139,000. 98.89% of the stock is currently owned by institutional investors.
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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