Analysts Set Netgear Inc. (NASDAQ:NTGR) PT at $52.45
Netgear Inc. (NASDAQ:NTGR) has been assigned an average rating of “Hold” from the nine research firms that are currently covering the company. Six investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $52.40.
A number of analysts have recently issued reports on NTGR shares. BWS Financial increased their price objective on shares of Netgear from $50.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Vetr raised shares of Netgear from a “sell” rating to a “buy” rating and set a $59.59 price objective for the company in a research note on Tuesday, September 13th. Wunderlich increased their price objective on shares of Netgear from $58.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, September 8th. Zacks Investment Research cut shares of Netgear from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 28th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $61.00 price objective (up from $55.00) on shares of Netgear in a research note on Wednesday, September 28th.
In other Netgear news, SVP Patrick J. Collins III sold 11,061 shares of the stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $48.91, for a total transaction of $540,993.51. Following the completion of the transaction, the senior vice president now owns 20,753 shares in the company, valued at $1,015,029.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael A. Werdann sold 1,348 shares of the stock in a transaction on Monday, July 11th. The shares were sold at an average price of $49.54, for a total transaction of $66,779.92. Following the transaction, the senior vice president now owns 24,750 shares of the company’s stock, valued at approximately $1,226,115. The disclosure for this sale can be found here. Company insiders own 5.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in NTGR. PNC Financial Services Group Inc. raised its position 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 period. Royal Bank of Canada raised its position 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 period. Amalgamated Bank acquired a new position in Netgear during the second quarter valued at approximately $208,000. PineBridge Investments L.P. raised its position 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 period. Finally, Acrospire Investment Management LLC acquired a new position in Netgear during the first quarter valued at approximately $174,000. Institutional investors and hedge funds own 99.48% of the company’s stock.
Netgear (NASDAQ:NTGR) opened at 55.23 on Tuesday. Netgear has a 12 month low of $31.65 and a 12 month high of $60.82. The company has a 50-day moving average of $57.63 and a 200-day moving average of $48.50. The stock has a market cap of $1.81 billion, a PE ratio of 26.27 and a beta of 1.92.
Netgear (NASDAQ:NTGR) last announced its earnings results on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, beating 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 business earned $311.66 million during the quarter, compared to analysts’ expectations of $298.87 million. During the same period in the prior year, the company earned $0.29 earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis. On average, equities analysts forecast that Netgear will post $2.96 EPS for the current fiscal year.
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.
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