NETGEAR (NASDAQ:NTGR) Price Target Cut to $22.00

NETGEAR (NASDAQ:NTGRGet Rating) had its price objective cut by stock analysts at Deutsche Bank Aktiengesellschaft from $25.00 to $22.00 in a research report issued on Thursday, The Fly reports. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 1.99% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. StockNews.com assumed coverage on shares of NETGEAR in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Raymond James dropped their price objective on shares of NETGEAR from $34.00 to $31.00 and set an “outperform” rating on the stock in a research note on Thursday, February 3rd. BWS Financial dropped their price objective on shares of NETGEAR from $30.00 to $27.00 in a research note on Monday, April 18th. Finally, Zacks Investment Research lowered shares of 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. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, NETGEAR has an average rating of “Hold” and an average price target of $26.50.

Shares of NASDAQ:NTGR opened at $21.57 on Thursday. The company has a market cap of $629.00 million, a PE ratio of 13.74 and a beta of 0.74. NETGEAR 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 $24.31 and a 200 day simple moving average of $27.28.

NETGEAR (NASDAQ:NTGRGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The communications equipment provider reported ($0.28) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.30). NETGEAR had a net margin of 4.23% and a return on equity of 6.92%. During the same quarter in the previous year, the company posted $0.72 earnings per share. As a group, sell-side analysts predict that NETGEAR will post 1.24 EPS for the current year.

In other news, SVP Vikram Mehta sold 1,844 shares of the stock in a transaction on Thursday, February 3rd. The shares were sold at an average price of $25.60, for a total transaction of $47,206.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Heidi Cormack sold 2,105 shares of the stock in a transaction on Thursday, April 21st. The stock was sold at an average price of $22.52, for a total transaction of $47,404.60. Following the transaction, the senior vice president now owns 61,421 shares in the company, valued at approximately $1,383,200.92. The disclosure for this sale can be found here. Corporate insiders own 4.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its holdings in shares of NETGEAR by 187.3% during the 2nd quarter. Royal Bank of Canada now owns 839 shares of the communications equipment provider’s stock worth $32,000 after buying an additional 547 shares during the period. Pinebridge Investments L.P. bought a new stake in shares of NETGEAR during the 4th quarter worth $73,000. Captrust Financial Advisors boosted its holdings in shares of NETGEAR by 24.6% during the 3rd quarter. Captrust Financial Advisors now owns 3,088 shares of the communications equipment provider’s stock worth $99,000 after buying an additional 609 shares during the period. ProShare Advisors LLC bought a new stake in NETGEAR in the 4th quarter valued at $217,000. Finally, AlphaCrest Capital Management LLC bought a new stake in NETGEAR in the 4th quarter valued at $220,000. 97.97% of the stock is owned by institutional investors and hedge funds.

NETGEAR Company Profile (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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