NETGEAR (NASDAQ:NTGR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of NETGEAR (NASDAQ:NTGR) from a sell rating to a hold rating in a research note released on Saturday.

A number of other brokerages have also commented on NTGR. Zacks Research upgraded shares of NETGEAR from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Stifel Nicolaus set a $36.00 price objective on shares of NETGEAR in a research report on Thursday, February 5th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, NETGEAR currently has an average rating of “Hold” and an average target price of $36.00.

NETGEAR Price Performance

NTGR stock opened at $21.49 on Friday. The company has a fifty day moving average price of $21.17 and a two-hundred day moving average price of $25.61. NETGEAR has a one year low of $18.75 and a one year high of $36.86. The stock has a market cap of $604.08 million, a price-to-earnings ratio of -34.66 and a beta of 1.16.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, February 4th. The communications equipment provider reported $0.26 EPS for the quarter, beating the consensus estimate of $0.05 by $0.21. The firm had revenue of $182.47 million for the quarter, compared to the consensus estimate of $177.26 million. NETGEAR had a negative net margin of 2.56% and a negative return on equity of 2.40%. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.06) earnings per share. Research analysts anticipate that NETGEAR will post -1.84 EPS for the current fiscal year.

Insider Activity at NETGEAR

In related news, insider Pramod Badjate sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $20.97, for a total transaction of $62,910.00. Following the transaction, the insider directly owned 144,586 shares of the company’s stock, valued at approximately $3,031,968.42. This trade represents a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Johnson Financial Group Inc. bought a new stake in shares of NETGEAR in the fourth quarter valued at approximately $25,000. Comerica Bank increased its stake in NETGEAR by 64.8% during the 3rd quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock worth $35,000 after acquiring an additional 429 shares during the period. IFP Advisors Inc increased its stake in NETGEAR by 161.7% during the 4th quarter. IFP Advisors Inc now owns 2,243 shares of the communications equipment provider’s stock worth $55,000 after acquiring an additional 1,386 shares during the period. Rexford Capital Inc. acquired a new position in NETGEAR in the 2nd quarter valued at $58,000. Finally, Jones Financial Companies Lllp lifted its position in shares of NETGEAR by 44.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,323 shares of the communications equipment provider’s stock valued at $75,000 after acquiring an additional 718 shares during the period. 82.97% of the stock is owned by institutional investors.

About NETGEAR

NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.