NetGear, Inc. (NTGR) Receives $62.50 Consensus Target Price from Analysts

Shares of NetGear, Inc. (NASDAQ:NTGR) have received a consensus recommendation of “Buy” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $62.50.

Several equities analysts have weighed in on NTGR shares. BidaskClub upgraded shares of NetGear from a “sell” rating to a “hold” rating in a research report on Tuesday, January 1st. ValuEngine lowered shares of NetGear from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, Zacks Investment Research reissued a “hold” rating on shares of NetGear in a research note on Wednesday, November 14th.

NetGear stock traded down $0.75 during mid-day trading on Friday, hitting $38.86. The company’s stock had a trading volume of 416,296 shares, compared to its average volume of 326,615. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 16.75 and a beta of 1.88. NetGear has a twelve month low of $31.80 and a twelve month high of $78.30.

In related news, SVP David John Henry sold 3,305 shares of NetGear stock in a transaction on Monday, November 5th. The shares were sold at an average price of $56.67, for a total value of $187,294.35. Following the completion of the sale, the senior vice president now owns 34,300 shares of the company’s stock, valued at approximately $1,943,781. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Tamesa Rogers sold 2,000 shares of the business’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $54.20, for a total transaction of $108,400.00. Following the transaction, the senior vice president now directly owns 32,102 shares of the company’s stock, valued at approximately $1,739,928.40. The disclosure for this sale can be found here. Insiders have sold a total of 35,124 shares of company stock valued at $1,675,730 in the last three months. Company insiders own 5.10% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in NetGear by 13.8% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,594 shares of the communications equipment provider’s stock worth $477,000 after acquiring an additional 920 shares during the last quarter. BlueMountain Capital Management LLC lifted its position in NetGear by 20.3% during the 3rd quarter. BlueMountain Capital Management LLC now owns 7,045 shares of the communications equipment provider’s stock worth $443,000 after acquiring an additional 1,188 shares during the last quarter. Jupiter Asset Management Ltd. lifted its position in NetGear by 2.1% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 74,982 shares of the communications equipment provider’s stock worth $4,705,000 after acquiring an additional 1,560 shares during the last quarter. Teachers Advisors LLC lifted its position in NetGear by 4.0% during the 3rd quarter. Teachers Advisors LLC now owns 61,697 shares of the communications equipment provider’s stock worth $3,878,000 after acquiring an additional 2,351 shares during the last quarter. Finally, Stone Ridge Asset Management LLC lifted its position in NetGear by 26.8% during the 3rd quarter. Stone Ridge Asset Management LLC now owns 13,706 shares of the communications equipment provider’s stock worth $861,000 after acquiring an additional 2,895 shares during the last quarter. 99.99% of the stock is owned by hedge funds and other institutional investors.

About NetGear

NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. The company operates in three segments: Arlo, Connected Home, and Small and Medium Business. It offers smart home/connected home/broadband access products, such as remote video security systems, broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, and WiFi network adapters.

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