Netgear Inc. (NASDAQ:NTGR) has been given a consensus recommendation of “Buy” by the eight research firms that are covering the company. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $58.33.
A number of research analysts have recently commented on NTGR shares. Guggenheim started coverage on Netgear in a research report on Wednesday, January 4th. They set a “buy” rating and a $70.00 price target on the stock. Zacks Investment Research raised Netgear from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Wednesday, December 28th. Vetr raised Netgear from a “hold” rating to a “buy” rating and set a $60.73 price objective on the stock in a report on Tuesday, October 4th. Rosenblatt Securities raised Netgear from a “neutral” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Thursday, October 27th. Finally, BWS Financial cut Netgear from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $64.00 to $60.00 in a report on Monday, October 3rd.
Netgear (NASDAQ:NTGR) opened at 54.65 on Friday. Netgear has a 52-week low of $33.39 and a 52-week high of $60.82. The firm has a 50-day moving average price of $55.58 and a 200-day moving average price of $54.11. The company has a market cap of $1.81 billion, a PE ratio of 24.22 and a beta of 1.70.
Netgear (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. Netgear had a return on equity of 12.20% and a net margin of 5.72%. The firm had revenue of $338.50 million for the quarter, compared to analysts’ expectations of $323.82 million. During the same quarter in the prior year, the firm earned $0.67 EPS. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, analysts forecast that Netgear will post $3.00 EPS for the current year.
In related news, CFO Christine Marie Gorjanc sold 50,304 shares of the stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $50.33, for a total transaction of $2,531,800.32. Following the completion of the sale, the chief financial officer now directly owns 100,101 shares in the company, valued at approximately $5,038,083.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Patrick Cs Lo sold 14,200 shares of the stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $49.86, for a total value of $708,012.00. Following the sale, the chairman now owns 155,797 shares of the company’s stock, valued at $7,768,038.42. The disclosure for this sale can be found here. Insiders have sold a total of 155,589 shares of company stock worth $8,162,137 over the last quarter. Corporate insiders own 5.40% of the company’s stock.
Large investors have recently modified their holdings of the stock. Bank of Montreal Can bought a new stake in shares of Netgear during the second quarter valued at $2,954,000. Smith Asset Management Group LP bought a new stake in shares of Netgear during the second quarter valued at $2,638,000. Lucus Advisors LLC bought a new stake in shares of Netgear during the second quarter valued at $352,000. ClariVest Asset Management LLC boosted its stake in shares of Netgear by 9.6% in the second quarter. ClariVest Asset Management LLC now owns 46,712 shares of the company’s stock valued at $2,221,000 after buying an additional 4,100 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Netgear by 42.4% in the second quarter. Nordea Investment Management AB now owns 60,647 shares of the company’s stock valued at $2,883,000 after buying an additional 18,047 shares in the last quarter. Institutional investors own 98.22% of the company’s stock.
NETGEAR, Inc is a global networking company. The Company’s product line consists of devices, such as network attached storage, Internet protocol security cameras, and home automation devices and services. Its segments include retail, commercial and service provider. The retail business unit consists of home networking, home video security, storage and digital media products.