NetGear (NTGR) Stock Rating Upgraded by BidaskClub

NetGear (NASDAQ:NTGR) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

A number of other equities analysts also recently commented on NTGR. BWS Financial upgraded shares of NetGear from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Monday, October 9th. Zacks Investment Research downgraded shares of NetGear from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. Finally, Raymond James Financial upgraded shares of NetGear from a “market perform” rating to an “outperform” rating and set a $62.00 price objective for the company in a research report on Monday, December 18th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. NetGear has a consensus rating of “Buy” and an average target price of $65.20.

Shares of NetGear (NASDAQ NTGR) opened at $65.40 on Friday. NetGear has a 12-month low of $41.50 and a 12-month high of $65.55. The company has a market cap of $2,060.00, a price-to-earnings ratio of 29.73 and a beta of 1.53.

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

In other news, CEO Patrick Cs Lo sold 13,999 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $59.92, for a total value of $838,820.08. Following the completion of the transaction, the chief executive officer now owns 183,125 shares in the company, valued at approximately $10,972,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael F. Falcon sold 1,040 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $60.30, for a total transaction of $62,712.00. Following the completion of the transaction, the senior vice president now owns 34,611 shares of the company’s stock, valued at approximately $2,087,043.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,300 shares of company stock valued at $4,220,161. 6.20% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in shares of NetGear by 2.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,764,602 shares of the communications equipment provider’s stock valued at $119,155,000 after purchasing an additional 66,287 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of NetGear by 11.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,917,611 shares of the communications equipment provider’s stock valued at $91,278,000 after purchasing an additional 196,863 shares in the last quarter. State Street Corp increased its holdings in shares of NetGear by 1.8% in the 2nd quarter. State Street Corp now owns 842,782 shares of the communications equipment provider’s stock valued at $36,319,000 after purchasing an additional 14,817 shares in the last quarter. Northern Trust Corp increased its holdings in shares of NetGear by 55.1% in the 2nd quarter. Northern Trust Corp now owns 773,995 shares of the communications equipment provider’s stock valued at $33,359,000 after purchasing an additional 274,952 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of NetGear by 5.4% in the 2nd quarter. Wells Fargo & Company MN now owns 754,139 shares of the communications equipment provider’s stock valued at $32,504,000 after purchasing an additional 38,937 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

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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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