Netgear Inc. (NTGR) SVP Sells $30,181.53 in Stock
Netgear Inc. (NASDAQ:NTGR) SVP Michael F. Falcon sold 521 shares of the business’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $57.93, for a total transaction of $30,181.53. Following the transaction, the senior vice president now owns 35,870 shares in the company, valued at approximately $2,077,949.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Netgear Inc. (NASDAQ:NTGR) opened at 59.96 on Friday. The stock has a 50 day moving average of $56.56 and a 200 day moving average of $47.08. Netgear Inc. has a 52 week low of $28.52 and a 52 week high of $60.13. The company has a market cap of $1.96 billion, a P/E ratio of 28.53 and a beta of 1.84.
Netgear (NASDAQ:NTGR) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, beating 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 company earned $311.66 million during the quarter, compared to analyst estimates of $298.87 million. During the same quarter last year, the business posted $0.29 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts expect that Netgear Inc. will post $2.95 earnings per share for the current year.
A number of large investors have recently made changes to their positions in NTGR. Vanguard Group Inc. raised its stake in shares of Netgear by 7.0% in the second quarter. Vanguard Group Inc. now owns 2,890,854 shares of the company’s stock worth $137,431,000 after buying an additional 189,300 shares during the last quarter. FMR LLC raised its stake in shares of Netgear by 39.7% in the second quarter. FMR LLC now owns 2,866,848 shares of the company’s stock worth $136,290,000 after buying an additional 814,166 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Netgear by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,721,426 shares of the company’s stock worth $129,375,000 after buying an additional 11,749 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Netgear by 4.0% in the second quarter. BlackRock Fund Advisors now owns 2,123,816 shares of the company’s stock worth $100,966,000 after buying an additional 80,868 shares during the last quarter. Finally, LSV Asset Management raised its stake in shares of Netgear by 0.6% in the second quarter. LSV Asset Management now owns 1,658,973 shares of the company’s stock worth $78,867,000 after buying an additional 9,882 shares during the last quarter. Institutional investors own 99.48% of the company’s stock.
Several equities analysts recently issued reports on the stock. BWS Financial boosted their price target on shares of Netgear from $50.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Rosenblatt Securities restated a “buy” rating and issued a $47.50 price objective on shares of Netgear in a report on Thursday, June 9th. Zacks Investment Research upgraded shares of Netgear from a “hold” rating to a “strong-buy” rating and set a $61.00 price objective on the stock in a report on Tuesday, August 2nd. Vetr upgraded shares of Netgear from a “hold” rating to a “buy” rating and set a $61.09 price objective on the stock in a report on Wednesday. Finally, Wunderlich upped their price objective on shares of Netgear from $58.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, September 8th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Netgear has a consensus rating of “Buy” and an average target price of $52.34.
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.
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