NETGEAR, Inc. (NTGR) Receives $62.75 Consensus Price Target from Analysts

Shares of NETGEAR, Inc. (NASDAQ:NTGR) have received an average rating of “Hold” from the six brokerages that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $62.75.

A number of research firms have recently commented on NTGR. Zacks Investment Research cut NETGEAR from a “hold” rating to a “sell” rating in a report on Friday, October 13th. BWS Financial raised NETGEAR from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Monday, October 9th.

NETGEAR (NASDAQ NTGR) traded up $0.30 during trading hours on Wednesday, reaching $44.95. 357,373 shares of the company’s stock traded hands, compared to its average volume of 485,719. The stock has a market capitalization of $1.48 billion, a PE ratio of 18.35 and a beta of 1.50.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings data on Wednesday, October 25th. The communications equipment provider reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.13. The firm had revenue of $355.48 million during the quarter, compared to analysts’ expectations of $349.36 million. NETGEAR had a return on equity of 10.57% and a net margin of 5.33%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.76 EPS. analysts expect that NETGEAR will post 2.24 earnings per share for the current fiscal year.

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In other NETGEAR news, SVP Michael A. Werdann sold 750 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $45.35, for a total value of $34,012.50. Following the completion of the transaction, the senior vice president now owns 26,625 shares of the company’s stock, valued at approximately $1,207,443.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Patrick Cs Lo sold 19,799 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $45.35, for a total value of $897,884.65. Following the completion of the transaction, the chairman now directly owns 183,001 shares of the company’s stock, valued at approximately $8,299,095.35. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,885 shares of company stock valued at $3,954,685. Insiders own 6.20% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. grew its position in shares of NETGEAR by 17.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,080 shares of the communications equipment provider’s stock valued at $103,000 after buying an additional 304 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of NETGEAR by 42.8% in the 1st quarter. Victory Capital Management Inc. now owns 2,724 shares of the communications equipment provider’s stock valued at $135,000 after buying an additional 817 shares during the last quarter. Palouse Capital Management Inc. bought a new stake in shares of NETGEAR in the 2nd quarter valued at about $202,000. M&T Bank Corp grew its position in shares of NETGEAR by 31.5% in the 2nd quarter. M&T Bank Corp now owns 5,428 shares of the communications equipment provider’s stock valued at $234,000 after buying an additional 1,300 shares during the last quarter. Finally, First Mercantile Trust Co. grew its position in shares of NETGEAR by 12.4% in the 2nd quarter. First Mercantile Trust Co. now owns 6,038 shares of the communications equipment provider’s stock valued at $260,000 after buying an additional 668 shares during the last quarter. Hedge funds and other institutional investors own 98.49% of the company’s stock.

NETGEAR Company Profile

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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