NETGEAR (NASDAQ:NTGR) released its earnings results on Wednesday. The communications equipment provider reported $0.66 EPS for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.05), MarketWatch Earnings reports. The business had revenue of $308.81 million for the quarter, compared to the consensus estimate of $314.83 million. NETGEAR had a return on equity of 12.82% and a net margin of 6.36%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.54 earnings per share. NETGEAR updated its Q3 2021 guidance to EPS.
NASDAQ:NTGR traded up $0.23 during mid-day trading on Wednesday, reaching $37.06. The stock had a trading volume of 433,902 shares, compared to its average volume of 349,375. The company has a 50 day moving average price of $38.42. The company has a market capitalization of $1.13 billion, a PE ratio of 13.53 and a beta of 0.81. NETGEAR has a one year low of $27.17 and a one year high of $46.38.
In related news, SVP Michael A. Werdann sold 3,081 shares of the business’s stock in a transaction that occurred on Tuesday, May 4th. The stock was sold at an average price of $36.78, for a total value of $113,319.18. Following the completion of the sale, the senior vice president now owns 34,175 shares in the company, valued at approximately $1,256,956.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Heidi Cormack sold 5,301 shares of the business’s stock in a transaction that occurred on Tuesday, July 20th. The stock was sold at an average price of $36.83, for a total value of $195,235.83. The disclosure for this sale can be found here. Insiders sold a total of 59,101 shares of company stock valued at $2,235,006 in the last 90 days. 4.70% of the stock is currently owned by corporate insiders.
NETGEAR Company Profile
NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. It operates in two segments, Connected Home, and Small and Medium Business. The company offers smart home/connected home/broadband access products, such as broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, WiFi network adapters, and digital canvasses; and value added service offerings, including technical support, parental controls, and cybersecurity protection.
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