NETGEAR (NASDAQ:NTGR) Stock Rating Lowered by StockNews.com

NETGEAR (NASDAQ:NTGR) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Separately, Raymond James raised their target price on shares of NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th.

NETGEAR Price Performance

Shares of NASDAQ NTGR opened at $23.63 on Friday. The stock has a market capitalization of $682.17 million, a price-to-earnings ratio of 59.08 and a beta of 0.72. The business has a 50-day moving average of $26.44 and a 200-day moving average of $24.20. NETGEAR has a fifty-two week low of $10.48 and a fifty-two week high of $31.55.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings data on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share for the quarter, meeting the consensus estimate of ($0.24). NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. On average, sell-side analysts expect that NETGEAR will post -1.84 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Charles J. Prober sold 10,929 shares of NETGEAR stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $26.64, for a total value of $291,148.56. Following the transaction, the chief executive officer now directly owns 507,763 shares of the company’s stock, valued at $13,526,806.32. This trade represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Murray Bryan sold 3,848 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $23.92, for a total transaction of $92,044.16. Following the sale, the chief financial officer now directly owns 193,032 shares in the company, valued at approximately $4,617,325.44. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.00% of the company’s stock.

Institutional Trading of NETGEAR

A number of hedge funds and other institutional investors have recently modified their holdings of NTGR. Quarry LP grew its stake in shares of NETGEAR by 66.5% during the third quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock worth $37,000 after buying an additional 741 shares during the last quarter. R Squared Ltd bought a new stake in shares of NETGEAR in the fourth quarter worth $72,000. New York State Teachers Retirement System bought a new stake in shares of NETGEAR in the fourth quarter worth $72,000. Summit Investment Advisors Inc. grew its stake in shares of NETGEAR by 19.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider’s stock worth $81,000 after purchasing an additional 479 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new stake in shares of NETGEAR in the fourth quarter worth $92,000. Institutional investors own 82.97% of the company’s stock.

NETGEAR Company Profile

NETGEAR, Inc provides connectivity solutions the Americas; Europe, the Middle East, Africa; and the Asia Pacific. The company operates in two segments, Connected Home, and NETGEAR for Business. The Connected Home segment offers Wi-Fi routers and home Wi-Fi mesh systems, Wi-Fi hotspots, digital displays, broadband modems, Wi-Fi gateways, Wi-Fi range extenders, powerline adapters, and Wi-Fi network adapters; and provides value-added service offerings, including security and privacy, technical support, and parental controls.