NETGEAR, Inc. (NASDAQ:NTGR – Get Rating) insider Martin Westhead sold 5,497 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $18.27, for a total value of $100,430.19. Following the completion of the sale, the insider now owns 50,313 shares of the company’s stock, valued at approximately $919,218.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
NETGEAR stock traded up $0.07 during mid-day trading on Wednesday, reaching $18.79. 273,868 shares of the company were exchanged, compared to its average volume of 235,159. The business has a fifty day moving average of $19.40 and a 200 day moving average of $23.86. The firm has a market cap of $540.61 million, a P/E ratio of -17.07 and a beta of 0.76. NETGEAR, Inc. has a 12-month low of $17.40 and a 12-month high of $39.04.
NETGEAR (NASDAQ:NTGR – Get Rating) last posted its earnings results on Wednesday, April 27th. The communications equipment provider reported ($1.95) earnings per share for the quarter. The company had revenue of $210.56 million for the quarter, compared to analysts’ expectations of $223.99 million. NETGEAR had a negative return on equity of 4.45% and a negative net margin of 2.90%. During the same quarter in the prior year, the company earned $0.72 EPS. As a group, equities research analysts predict that NETGEAR, Inc. will post -1.88 EPS for the current fiscal year.
A number of brokerages recently issued reports on NTGR. TheStreet lowered NETGEAR from a “c” rating to a “d+” rating in a report on Thursday, April 28th. StockNews.com lowered NETGEAR from a “hold” rating to a “sell” rating in a report on Thursday, May 12th. BWS Financial lowered their price target on NETGEAR from $30.00 to $27.00 in a report on Monday, April 18th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on NETGEAR from $25.00 to $22.00 in a report on Thursday, April 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $26.67.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of NETGEAR by 3.0% during the first quarter. BlackRock Inc. now owns 5,588,137 shares of the communications equipment provider’s stock worth $137,917,000 after purchasing an additional 165,385 shares in the last quarter. Vanguard Group Inc. increased its position in shares of NETGEAR by 2.2% during the first quarter. Vanguard Group Inc. now owns 3,239,551 shares of the communications equipment provider’s stock worth $79,952,000 after purchasing an additional 68,566 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of NETGEAR by 1.7% during the first quarter. Victory Capital Management Inc. now owns 2,877,951 shares of the communications equipment provider’s stock worth $70,873,000 after purchasing an additional 47,693 shares in the last quarter. Brandes Investment Partners LP increased its position in shares of NETGEAR by 38.4% during the first quarter. Brandes Investment Partners LP now owns 1,718,811 shares of the communications equipment provider’s stock worth $42,420,000 after purchasing an additional 477,193 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of NETGEAR by 4.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,670,410 shares of the communications equipment provider’s stock worth $41,226,000 after purchasing an additional 73,225 shares in the last quarter. 93.08% of the stock is currently owned by institutional investors and hedge funds.
About NETGEAR (Get Rating)
NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. The company operates in two segments, Connected Home, and Small and Medium Business. It offers smart home/connected home/broadband access products, such as Wi-Fi routers and home Wi-Fi systems, broadband modems, Wi-Fi gateways, Wi-Fi hotspots, Wi-Fi range extenders, Powerline adapters and bridges, Wi-Fi network adapters, and digital canvasses; and value-added service offerings, including technical support, parental controls, and cybersecurity protection.