NetGear, Inc. (NTGR) Given Average Rating of “Buy” by Analysts

NetGear, Inc. (NASDAQ:NTGR) has received an average recommendation of “Buy” from the six analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $65.20.

A number of equities analysts recently weighed in on NTGR shares. BidaskClub upgraded shares of NetGear from a “hold” rating to a “buy” rating in a report on Thursday, December 14th. 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 report on Monday, October 9th. Zacks Investment Research upgraded shares of NetGear from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Wednesday, January 10th. 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 report on Monday, December 18th.

In other NetGear news, SVP Tamesa Rogers sold 1,500 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $45.40, for a total transaction of $68,100.00. Following the completion of the sale, the senior vice president now directly owns 23,781 shares in the company, valued at approximately $1,079,657.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Patrick Cs Lo sold 13,999 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $59.92, for a total transaction of $838,820.08. Following the sale, the chief executive officer now owns 183,125 shares of the company’s stock, valued at $10,972,850. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,300 shares of company stock valued at $4,068,061. 6.20% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its stake in NetGear by 9.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 121,997 shares of the communications equipment provider’s stock valued at $5,258,000 after buying an additional 10,637 shares during the last quarter. State Street Corp grew its position in shares of NetGear by 1.8% during the 2nd quarter. State Street Corp now owns 842,782 shares of the communications equipment provider’s stock valued at $36,319,000 after acquiring an additional 14,817 shares during the period. Bancorpsouth Inc. grew its position in shares of NetGear by 154.7% during the 2nd quarter. Bancorpsouth Inc. now owns 12,801 shares of the communications equipment provider’s stock valued at $552,000 after acquiring an additional 7,775 shares during the period. Northern Trust Corp grew its position in shares of NetGear by 55.1% during the 2nd quarter. Northern Trust Corp now owns 773,995 shares of the communications equipment provider’s stock valued at $33,359,000 after acquiring an additional 274,952 shares during the period. Finally, K.J. Harrison & Partners Inc bought a new stake in shares of NetGear during the 3rd quarter valued at $286,000.

Shares of NetGear (NASDAQ:NTGR) traded up $1.95 on Monday, hitting $65.40. The stock had a trading volume of 526,400 shares, compared to its average volume of 510,178. NetGear has a 12-month low of $41.50 and a 12-month high of $65.55. The company has a market cap of $2,058.13, a PE ratio of 29.73 and a beta of 1.53.

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, topping analysts’ consensus estimates of $0.68 by $0.13. NetGear had a net margin of 5.33% and a return on equity of 10.57%. The company had revenue of $355.48 million during the quarter, compared to analyst estimates of $349.36 million. During the same period in the previous year, the business earned $0.76 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. research analysts forecast that NetGear will post 2.24 earnings per share for the current fiscal year.

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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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