Stifel Nicolaus Issues Pessimistic Forecast for NETGEAR (NASDAQ:NTGR) Stock Price

NETGEAR (NASDAQ:NTGR) had its target price decreased by Stifel Nicolaus from $36.00 to $30.00 in a research report issued to clients and investors on Monday, Marketbeat reports. The firm presently has a “buy” rating on the communications equipment provider’s stock. Stifel Nicolaus’ price target suggests a potential upside of 30.21% from the company’s previous close.

NTGR has been the topic of several other research reports. Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a research report on Monday, September 21st. Wall Street Zen upgraded NETGEAR from a “sell” rating to a “hold” rating in a research report on Sunday, September 6th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, NETGEAR has an average rating of “Hold” and a consensus price target of $33.50.

NETGEAR Trading Up 0.4%

NTGR stock opened at $23.04 on Monday. The company’s 50 day moving average is $22.35 and its 200 day moving average is $23.55. The stock has a market cap of $626.23 million, a price-to-earnings ratio of -24.77 and a beta of 1.15. NETGEAR has a 1-year low of $19.00 and a 1-year high of $36.86.

NETGEAR (NASDAQ:NTGR) last announced its earnings results on Thursday, August 6th. The communications equipment provider reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.15. NETGEAR had a negative net margin of 3.71% and a negative return on equity of 2.79%. The business had revenue of $168.56 million for the quarter, compared to the consensus estimate of $157.80 million. During the same period last year, the firm posted $0.06 earnings per share. NETGEAR’s quarterly revenue was down 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that NETGEAR will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling

In other NETGEAR news, insider Pramod Badjate sold 3,000 shares of NETGEAR stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $23.88, for a total transaction of $71,640.00. Following the transaction, the insider directly owned 154,073 shares of the company’s stock, valued at approximately $3,679,263.24. This trade represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 3.10% of the stock is owned by insiders.

Hedge Funds Weigh In On NETGEAR

Several institutional investors and hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC purchased a new position in NETGEAR in the 2nd quarter worth $31,000. Amundi boosted its position in NETGEAR by 9.8% during the second quarter. Amundi now owns 27,251 shares of the communications equipment provider’s stock valued at $636,000 after buying an additional 2,421 shares during the period. AXQ Capital LP bought a new position in shares of NETGEAR during the second quarter valued at about $388,000. Continuum Advisory LLC bought a new position in shares of NETGEAR during the second quarter valued at about $25,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of NETGEAR by 8.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,699 shares of the communications equipment provider’s stock worth $180,000 after buying an additional 581 shares during the period. Institutional investors own 82.97% of the company’s stock.

NETGEAR Company Profile

NETGEAR, Inc (NASDAQ: NTGR) develops and markets networking products and related services for consumers, businesses and service providers. Its portfolio is designed to provide wired and wireless connectivity, internet access, network management and security for homes, offices and other environments.

The company’s products include Wi-Fi routers and mesh systems, cable modems, wireless access points, range extenders, switches and other networking hardware. NETGEAR also offers business-oriented networking solutions, including managed and unmanaged switches, wireless systems and storage products, as well as subscription-based services such as network security and monitoring for compatible devices.

Founded in 1996 and headquartered in San Jose, California, NETGEAR sells its products through retailers, e-commerce channels, value-added resellers, distributors and internet service providers.