NETGEAR, Inc. (NTGR) Chairman Sells $473,517.00 in Stock
NETGEAR, Inc. (NASDAQ:NTGR) Chairman Patrick Cs Lo sold 9,900 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $47.83, for a total transaction of $473,517.00. Following the sale, the chairman now owns 183,125 shares in the company, valued at $8,758,868.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Patrick Cs Lo also recently made the following trade(s):
- On Tuesday, July 25th, Patrick Cs Lo sold 4,000 shares of NETGEAR stock. The shares were sold at an average price of $45.00, for a total transaction of $180,000.00.
- On Monday, July 3rd, Patrick Cs Lo sold 5,900 shares of NETGEAR stock. The shares were sold at an average price of $43.39, for a total transaction of $256,001.00.
- On Wednesday, June 7th, Patrick Cs Lo sold 4,000 shares of NETGEAR stock. The shares were sold at an average price of $45.00, for a total transaction of $180,000.00.
NETGEAR, Inc. (NASDAQ NTGR) opened at 46.45 on Friday. The company’s 50-day moving average is $44.46 and its 200 day moving average is $48.97. NETGEAR, Inc. has a 1-year low of $41.50 and a 1-year high of $60.82. The stock has a market capitalization of $1.50 billion, a PE ratio of 21.32 and a beta of 1.55.
NETGEAR (NASDAQ:NTGR) last posted its earnings results on Wednesday, July 26th. The communications equipment provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.06. NETGEAR had a net margin of 5.42% and a return on equity of 10.67%. The firm had revenue of $330.72 million during the quarter, compared to analysts’ expectations of $324.64 million. During the same period in the previous year, the business posted $0.72 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. Equities analysts predict that NETGEAR, Inc. will post $2.68 earnings per share for the current year.
NETGEAR declared that its board has initiated a stock repurchase plan on Wednesday, April 26th that permits the company to repurchase 3,000,000 shares. This repurchase authorization permits the communications equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of NETGEAR from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. Global Equities Research restated a “buy” rating and set a $85.00 price objective on shares of NETGEAR in a research report on Tuesday, June 13th. Two analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $62.48.
Institutional investors have recently bought and sold shares of the stock. Guggenheim Capital LLC boosted its position in NETGEAR by 40.3% in the fourth quarter. Guggenheim Capital LLC now owns 19,936 shares of the communications equipment provider’s stock worth $1,083,000 after buying an additional 5,725 shares in the last quarter. Macquarie Group Ltd. boosted its position in 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 in the last quarter. Foundry Partners LLC boosted its position in 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 in the last quarter. Fox Run Management L.L.C. bought a new position in NETGEAR during the first quarter worth $357,000. Finally, Louisiana State Employees Retirement System boosted its position in 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 in the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.
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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