NETGEAR, Inc. (NASDAQ:NTGR) Receives Consensus Rating of “Hold” from Analysts

NETGEAR, Inc. (NASDAQ:NTGR) has received an average rating of “Hold” from the four analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $36.00.

NTGR has been the topic of a number of recent analyst reports. Stifel Nicolaus set a $36.00 price target on shares of NETGEAR in a report on Thursday, February 5th. Weiss Ratings reissued a “sell (d)” rating on shares of NETGEAR in a report on Friday, March 27th. Zacks Research raised shares of NETGEAR from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Finally, Wall Street Zen raised shares of NETGEAR from a “sell” rating to a “hold” rating in a report on Saturday, March 28th.

NETGEAR Stock Down 4.1%

Shares of NASDAQ:NTGR opened at $24.75 on Friday. The firm has a market capitalization of $664.29 million, a PE ratio of -28.13 and a beta of 1.18. NETGEAR has a twelve month low of $19.00 and a twelve month high of $36.86. The company has a 50-day moving average price of $23.80 and a two-hundred day moving average price of $24.17.

NETGEAR (NASDAQ:NTGR) last issued its earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.14. NETGEAR had a negative net margin of 3.58% and a negative return on equity of 2.71%. The firm had revenue of $158.82 million during the quarter, compared to analyst estimates of $152.49 million. During the same quarter last year, the business earned $0.02 earnings per share. The company’s quarterly revenue was down 2.0% on a year-over-year basis. Analysts anticipate that NETGEAR will post -0.59 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Pramod Badjate sold 3,000 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $25.47, for a total value of $76,410.00. Following the sale, the insider directly owned 165,513 shares of the company’s stock, valued at approximately $4,215,616.11. This represents a 1.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On NETGEAR

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its stake in NETGEAR by 77.8% in the first quarter. Renaissance Technologies LLC now owns 557,462 shares of the communications equipment provider’s stock valued at $12,175,000 after purchasing an additional 243,843 shares in the last quarter. Caxton Associates LLP raised its stake in NETGEAR by 137.7% in the first quarter. Caxton Associates LLP now owns 55,950 shares of the communications equipment provider’s stock valued at $1,222,000 after purchasing an additional 32,415 shares in the last quarter. Inceptionr LLC purchased a new stake in NETGEAR in the first quarter valued at approximately $237,000. Cetera Investment Advisers raised its stake in NETGEAR by 6.4% in the first quarter. Cetera Investment Advisers now owns 11,996 shares of the communications equipment provider’s stock valued at $262,000 after purchasing an additional 725 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its stake in NETGEAR by 64.7% in the first quarter. Sanctuary Advisors LLC now owns 28,988 shares of the communications equipment provider’s stock valued at $633,000 after purchasing an additional 11,388 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

NETGEAR Company Profile

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.