Vetr Inc. Downgrades Netgear Inc. (NTGR) to Hold
Vetr cut shares of Netgear Inc. (NASDAQ:NTGR) from a buy rating to a hold rating in a research note released on Monday morning. The firm currently has $59.59 price target on the stock.
A number of other brokerages have also commented on NTGR. Citigroup Inc. lowered shares of Netgear to a neutral rating and set a $47.50 price objective on the stock. in a report on Tuesday, July 12th. They noted that the move was a valuation call. Wunderlich started coverage on shares of Netgear in a report on Wednesday, June 8th. They set a buy rating and a $55.00 price objective on the stock. Rosenblatt Securities lowered shares of Netgear from a buy rating to a neutral rating and set a $47.50 price objective on the stock. in a report on Tuesday, July 12th. Zacks Investment Research lowered shares of Netgear from a strong-buy rating to a hold rating in a report on Wednesday, June 29th. Finally, BWS Financial lifted their price target on shares of Netgear from $50.00 to $64.00 and gave the company a buy rating in a research note on Thursday, July 28th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $52.34.
Shares of Netgear (NASDAQ:NTGR) opened at 59.96 on Monday. The company has a market capitalization of $1.96 billion, a PE ratio of 28.53 and a beta of 1.84. Netgear has a 12-month low of $28.52 and a 12-month high of $60.13. The firm’s 50-day moving average is $56.56 and its 200-day moving average is $47.08.
Netgear (NASDAQ:NTGR) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.12. Netgear had a net margin of 5.25% and a return on equity of 12.06%. The business had revenue of $311.66 million for the quarter, compared to analyst estimates of $298.87 million. During the same period last year, the business posted $0.29 earnings per share. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities research analysts anticipate that Netgear will post $2.95 EPS for the current fiscal year.
In other Netgear news, SVP Tamesa Rogers sold 650 shares of the business’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $46.29, for a total value of $30,088.50. Following the completion of the sale, the senior vice president now owns 13,901 shares of the company’s stock, valued at approximately $643,477.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jef Graham sold 8,333 shares of the business’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $45.12, for a total transaction of $375,984.96. Following the completion of the sale, the director now directly owns 4,394 shares of the company’s stock, valued at approximately $198,257.28. The disclosure for this sale can be found here. Corporate insiders own 5.40% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. UBS Group AG increased its stake in Netgear by 82.7% in the first quarter. UBS Group AG now owns 36,320 shares of the company’s stock worth $1,466,000 after buying an additional 16,443 shares in the last quarter. Landscape Capital Management L.L.C. increased its stake in Netgear by 89.4% in the first quarter. Landscape Capital Management L.L.C. now owns 23,300 shares of the company’s stock worth $941,000 after buying an additional 11,000 shares in the last quarter. Acrospire Investment Management LLC acquired a new stake in Netgear during the first quarter worth about $174,000. JPMorgan Chase & Co. increased its stake in Netgear by 47.0% in the first quarter. JPMorgan Chase & Co. now owns 562,238 shares of the company’s stock worth $22,697,000 after buying an additional 179,702 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Netgear by 9.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 970,349 shares of the company’s stock worth $39,173,000 after buying an additional 79,973 shares in the last quarter. 99.48% of the stock is owned by hedge funds and other institutional investors.
Netgear Company Profile
NETGEAR, Inc is a global networking company. The Company’s product line consists of devices, such as network attached storage, Internet protocol security cameras, and home automation devices and services. Its segments include retail, commercial and service provider. The retail business unit consists of home networking, home video security, storage and digital media products.
To view Vetr’s full report, visit Vetr’s official website.
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