NetGear (NTGR) Raised to Sell at BidaskClub
BidaskClub upgraded shares of NetGear (NASDAQ:NTGR) from a strong sell rating to a sell rating in a research report report published on Wednesday.
Other equities analysts have also issued research reports about the company. TheStreet lowered NetGear from a b- rating to a c+ rating in a research note on Monday, August 13th. ValuEngine downgraded NetGear from a buy rating to a hold rating in a research report on Friday, September 7th. Raymond James set a $80.00 price target on NetGear and gave the stock a buy rating in a research report on Wednesday, September 5th. Cowen started coverage on NetGear in a research report on Monday, October 1st. They set a hold rating and a $63.00 price target on the stock. Finally, Zacks Investment Research raised NetGear from a strong sell rating to a hold rating in a research report on Wednesday, June 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $70.40.
Shares of NASDAQ NTGR traded down $2.17 during trading hours on Wednesday, reaching $54.04. 758,827 shares of the stock were exchanged, compared to its average volume of 255,644. The firm has a market cap of $1.72 billion, a P/E ratio of 26.49 and a beta of 2.04. NetGear has a 52 week low of $44.20 and a 52 week high of $78.30.
A number of large investors have recently modified their holdings of the stock. Contravisory Investment Management Inc. acquired a new stake in shares of NetGear in the 2nd quarter valued at $140,000. Stevens Capital Management LP acquired a new stake in shares of NetGear in the 2nd quarter valued at $201,000. Fox Run Management L.L.C. acquired a new stake in shares of NetGear in the 2nd quarter valued at $239,000. Tower Research Capital LLC TRC acquired a new stake in shares of NetGear in the 2nd quarter valued at $267,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of NetGear in the 1st quarter valued at $250,000. 99.99% of the stock is currently owned by institutional investors and hedge funds.
NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. The company operates in three segments: Arlo, Connected Home, and Small and Medium Business. It offers smart home/connected home/broadband access products, such as remote video security systems, broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, and WiFi network adapters.
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