NetGear (NTGR) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of NetGear (NASDAQ:NTGR) from a sell rating to a hold rating in a report issued on Friday morning.

According to Zacks, “NETGEAR, Inc. is a global networking company that delivers innovative products to consumers, businesses and service providers. For consumers, the company makes high performance, dependable and easy to use home networking, storage and digital media products to connect people with the Internet and their content and devices. For businesses, NETGEAR provides networking, storage and security solutions without the cost and complexity of big IT. The company also supplies top service providers with retail-proven, mobile broadband solutions for their customers on the go. NETGEAR products are built on a variety of proven technologies such as wireless, Ethernet and Powerline, with a focus on reliability and ease-of-use. “

Several other analysts have also recently issued reports on NTGR. BWS Financial upgraded shares of NetGear from a hold rating to a buy rating and set a $60.00 target price on the stock in a research report on Monday, October 9th. BidaskClub upgraded shares of NetGear from a hold rating to a buy rating in a research report on Thursday, December 14th. Finally, Raymond James Financial upgraded shares of NetGear from a market perform rating to an outperform rating and set a $62.00 target price on the stock in a research report on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $62.60.

Shares of NetGear (NTGR) traded down $1.10 during mid-day trading on Friday, reaching $57.30. 367,807 shares of the company’s stock traded hands, compared to its average volume of 514,126. The stock has a market cap of $1,770.00, a PE ratio of 26.05 and a beta of 1.52. NetGear has a 1-year low of $41.50 and a 1-year high of $61.35.

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

In other news, Chairman Patrick Cs Lo sold 19,799 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $47.63, for a total transaction of $943,026.37. Following the sale, the chairman now directly owns 183,125 shares in the company, valued at approximately $8,722,243.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Barbara Vaughn Scherer sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $52.00, for a total transaction of $52,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 102,888 shares of company stock worth $5,028,731 over the last 90 days. Corporate insiders own 6.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of NTGR. Aperio Group LLC raised its position in NetGear by 8.5% in the 2nd quarter. Aperio Group LLC now owns 11,602 shares of the communications equipment provider’s stock worth $500,000 after purchasing an additional 907 shares during the period. Municipal Employees Retirement System of Michigan raised its position in NetGear by 2.3% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,350 shares of the communications equipment provider’s stock worth $403,000 after purchasing an additional 210 shares during the period. Great West Life Assurance Co. Can raised its position in NetGear by 2.6% in the 2nd quarter. Great West Life Assurance Co. Can now owns 47,387 shares of the communications equipment provider’s stock worth $2,039,000 after purchasing an additional 1,200 shares during the period. Schwab Charles Investment Management Inc. raised its position in NetGear by 4.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 303,397 shares of the communications equipment provider’s stock worth $13,077,000 after purchasing an additional 13,322 shares during the period. Finally, Rhumbline Advisers raised its position in NetGear by 1.2% in the 2nd quarter. Rhumbline Advisers now owns 67,770 shares of the communications equipment provider’s stock worth $2,921,000 after purchasing an additional 786 shares during the period. 97.52% of the stock is currently owned by institutional investors.

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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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