Heidi Cormack Sells 2,105 Shares of NETGEAR, Inc. (NASDAQ:NTGR) Stock

NETGEAR, Inc. (NASDAQ:NTGRGet Rating) SVP Heidi Cormack sold 2,105 shares of the firm’s stock in a transaction on Thursday, April 21st. The stock was sold at an average price of $22.52, for a total value of $47,404.60. Following the completion of the transaction, the senior vice president now directly owns 61,421 shares of the company’s stock, valued at $1,383,200.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

NASDAQ NTGR traded down $0.39 during trading hours on Thursday, reaching $22.38. 17,095 shares of the company’s stock traded hands, compared to its average volume of 235,638. NETGEAR, Inc. has a 52-week low of $20.55 and a 52-week high of $41.96. The firm has a 50-day simple moving average of $24.79 and a 200 day simple moving average of $27.65. The firm has a market cap of $657.10 million, a PE ratio of 14.26 and a beta of 0.74.

NETGEAR (NASDAQ:NTGRGet Rating) last released its earnings results on Wednesday, February 2nd. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter. The business had revenue of $251.19 million for the quarter, compared to analysts’ expectations of $258.83 million. NETGEAR had a net margin of 4.23% and a return on equity of 6.92%. NETGEAR’s revenue for the quarter was down 31.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.99 earnings per share. As a group, research analysts expect that NETGEAR, Inc. will post 1.24 earnings per share for the current fiscal year.

NTGR has been the subject of several recent analyst reports. Raymond James reduced their price objective on shares of NETGEAR from $34.00 to $31.00 and set an “outperform” rating for the company in a research note on Thursday, February 3rd. Zacks Investment Research cut NETGEAR from a “buy” rating to a “hold” rating and set a $26.00 price objective on the stock. in a research note on Tuesday, April 5th. BWS Financial lowered their price target on NETGEAR from $30.00 to $27.00 in a research report on Monday. Finally, StockNews.com initiated coverage on NETGEAR in a report on Thursday, March 31st. They issued a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, NETGEAR presently has a consensus rating of “Hold” and a consensus target price of $28.25.

Institutional investors have recently added to or reduced their stakes in the business. William Blair Investment Management LLC increased its holdings in shares of NETGEAR by 49,273.0% during the third quarter. William Blair Investment Management LLC now owns 1,214,575 shares of the communications equipment provider’s stock valued at $38,757,000 after acquiring an additional 1,212,115 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in NETGEAR during the 4th quarter valued at about $21,698,000. BlackRock Inc. raised its holdings in NETGEAR by 10.9% in the fourth quarter. BlackRock Inc. now owns 5,422,752 shares of the communications equipment provider’s stock worth $158,398,000 after buying an additional 532,453 shares during the last quarter. Norges Bank bought a new position in shares of NETGEAR in the fourth quarter worth approximately $7,271,000. Finally, Deutsche Bank AG grew its holdings in shares of NETGEAR by 444.4% during the third quarter. Deutsche Bank AG now owns 234,179 shares of the communications equipment provider’s stock valued at $7,473,000 after buying an additional 191,162 shares during the last quarter. 97.97% 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.

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