Mark G. Merrill Sells 3,000 Shares of NetGear, Inc. (NTGR) Stock
NetGear, Inc. (NASDAQ:NTGR) insider Mark G. Merrill sold 3,000 shares of the company’s stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $49.40, for a total value of $148,200.00. Following the transaction, the insider now directly owns 23,944 shares of the company’s stock, valued at $1,182,833.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of NetGear, Inc. (NASDAQ:NTGR) traded up 1.11% on Tuesday, reaching $50.00. The company had a trading volume of 287,552 shares. NetGear, Inc. has a 12 month low of $38.40 and a 12 month high of $60.82. The stock has a 50-day moving average price of $51.51 and a 200-day moving average price of $53.62. The stock has a market cap of $1.65 billion, a PE ratio of 22.22 and a beta of 1.62.
NetGear (NASDAQ:NTGR) last issued its earnings results on Tuesday, February 7th. The communications equipment provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.11. NetGear had a return on equity of 12.00% and a net margin of 5.71%. The business earned $367.90 million during the quarter, compared to analyst estimates of $349.97 million. During the same period in the previous year, the company posted $0.83 EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. Analysts predict that NetGear, Inc. will post $3.16 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of the stock. Louisiana State Employees Retirement System raised its stake in shares of NetGear by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 13,400 shares of the communications equipment provider’s stock worth $664,000 after buying an additional 100 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of NetGear during the first quarter worth approximately $357,000. Foundry Partners LLC raised its stake in shares of NetGear by 16.8% in the first quarter. Foundry Partners LLC now owns 63,785 shares of the communications equipment provider’s stock worth $3,161,000 after buying an additional 9,176 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of NetGear by 7.5% in the fourth quarter. Macquarie Group Ltd. now owns 380,782 shares of the communications equipment provider’s stock worth $20,696,000 after buying an additional 26,422 shares during the last quarter. Finally, Vident Investment Advisory LLC raised its stake in shares of NetGear by 7.2% in the fourth quarter. Vident Investment Advisory LLC now owns 49,561 shares of the communications equipment provider’s stock worth $2,694,000 after buying an additional 3,339 shares during the last quarter. 98.73% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on NTGR. Zacks Investment Research raised NetGear from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. Guggenheim assumed coverage on NetGear in a research report on Wednesday, January 4th. They set a “buy” rating and a $70.00 price target for the company. Raymond James Financial, Inc. reissued a “market perform” rating on shares of NetGear in a research report on Wednesday, February 8th. Finally, Off Wall Street reissued a “sell” rating and set a $36.00 price target on shares of NetGear in a research report on Monday, March 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $57.79.
NetGear Company Profile
NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.
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