Netgear Inc. (NTGR) Chairman Sells $833,114.00 in Stock
Netgear Inc. (NASDAQ:NTGR) Chairman Patrick Cs Lo sold 14,200 shares of the stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $58.67, for a total transaction of $833,114.00. Following the transaction, the chairman now owns 155,797 shares of the company’s stock, valued at approximately $9,140,609.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Patrick Cs Lo also recently made the following trade(s):
- On Thursday, September 1st, Patrick Cs Lo sold 14,200 shares of Netgear stock. The stock was sold at an average price of $56.75, for a total transaction of $805,850.00.
- On Monday, August 1st, Patrick Cs Lo sold 14,200 shares of Netgear stock. The stock was sold at an average price of $51.34, for a total transaction of $729,028.00.
Shares of Netgear Inc. (NASDAQ:NTGR) opened at 55.93 on Friday. The company has a 50-day moving average of $57.65 and a 200-day moving average of $48.39. The stock has a market capitalization of $1.83 billion, a P/E ratio of 26.61 and a beta of 1.92. Netgear Inc. has a 52 week low of $31.65 and a 52 week high of $60.82.
Netgear (NASDAQ:NTGR) last issued its 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 return on equity of 12.06% and a net margin of 5.25%. The business earned $311.66 million during the quarter, compared to analyst estimates of $298.87 million. During the same quarter in the previous year, the firm earned $0.29 EPS. Netgear’s revenue was up 7.9% on a year-over-year basis. On average, analysts anticipate that Netgear Inc. will post $2.96 EPS for the current year.
A number of institutional investors have recently modified their holdings of NTGR. PNC Financial Services Group Inc. raised its stake in Netgear by 949.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,791 shares of the company’s stock valued at $133,000 after buying an additional 2,525 shares during the last quarter. Royal Bank of Canada raised its stake in Netgear by 33.6% in the first quarter. Royal Bank of Canada now owns 3,505 shares of the company’s stock valued at $141,000 after buying an additional 882 shares during the last quarter. Acrospire Investment Management LLC acquired a new stake in Netgear during the first quarter valued at approximately $174,000. PineBridge Investments L.P. raised its stake in Netgear by 4.3% in the second quarter. PineBridge Investments L.P. now owns 4,130 shares of the company’s stock valued at $197,000 after buying an additional 169 shares during the last quarter. Finally, Amalgamated Bank acquired a new stake in Netgear during the second quarter valued at approximately $208,000. 99.48% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have weighed in on NTGR. Vetr upgraded shares of Netgear from a “hold” rating to a “buy” rating and set a $60.73 target price for the company in a research report on Tuesday. BWS Financial lowered shares of Netgear from a “buy” rating to a “hold” rating and cut their target price for the stock from $64.00 to $60.00 in a research report on Monday. Rosenblatt Securities restated a “neutral” rating and issued a $61.00 price objective (up from $55.00) on shares of Netgear in a research report on Wednesday, September 28th. Zacks Investment Research lowered shares of Netgear from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Finally, Wunderlich raised their price objective on shares of Netgear from $58.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, September 8th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $53.36.
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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