Netgear Inc. (NTGR) SVP Sells $62,134.46 in Stock
Netgear Inc. (NASDAQ:NTGR) SVP Michael F. Falcon sold 1,042 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $59.63, for a total transaction of $62,134.46. Following the sale, the senior vice president now directly owns 35,870 shares of the company’s stock, valued at approximately $2,138,928.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Netgear Inc. (NASDAQ:NTGR) opened at 58.42 on Tuesday. Netgear Inc. has a 12-month low of $30.59 and a 12-month high of $60.82. The firm’s 50-day moving average is $57.67 and its 200-day moving average is $48.18. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 27.79 and a beta of 1.92.
Netgear (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 the consensus estimate of $298.87 million. During the same quarter in the prior year, the firm posted $0.29 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. Analysts predict that Netgear Inc. will post $2.96 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the company. FMR LLC increased 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 period. Riverhead Capital Management LLC increased its stake in shares of Netgear by 5,182.0% in the second quarter. Riverhead Capital Management LLC now owns 439,516 shares of the company’s stock worth $10,807,000 after buying an additional 431,195 shares during the period. Emerald Acquisition Ltd. purchased a new stake in shares of Netgear during the second quarter worth $14,271,000. Rothschild Asset Management Inc. purchased a new stake in shares of Netgear during the second quarter worth $13,343,000. Finally, Prudential Financial Inc. increased its stake in shares of Netgear by 77.6% in the first quarter. Prudential Financial Inc. now owns 498,537 shares of the company’s stock worth $20,126,000 after buying an additional 217,800 shares during the period. 99.48% of the stock is owned by institutional investors.
NTGR has been the subject of a number of research reports. BWS Financial lowered shares of Netgear from a “buy” rating to a “hold” rating and lowered their price target for the company from $64.00 to $60.00 in a report on Monday. Vetr lowered shares of Netgear from a “buy” rating to a “hold” rating and set a $59.59 price target for the company. in a report on Monday, September 19th. Citigroup Inc. lowered shares of Netgear to a “neutral” rating and set a $47.50 price target for the company. in a report on Tuesday, July 12th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Netgear from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 28th. Finally, Wunderlich raised their price target on shares of Netgear from $58.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, September 8th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Netgear currently has a consensus rating of “Hold” and a consensus target price of $53.40.
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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