NETGEAR (NASDAQ:NTGR) Downgraded by TheStreet

NETGEAR (NASDAQ:NTGRGet Rating) was downgraded by TheStreet from a “c” rating to a “d+” rating in a research report issued to clients and investors on Thursday, TheStreetRatingsTable reports.

Several other brokerages have also recently weighed in on NTGR. StockNews.com began coverage on NETGEAR in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Raymond James dropped their price objective on 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 decreased their target price on NETGEAR from $30.00 to $27.00 in a research report on Monday, April 18th. Deutsche Bank Aktiengesellschaft decreased their target price on NETGEAR from $25.00 to $22.00 in a research report on Thursday. Finally, Zacks Investment Research lowered NETGEAR from a “buy” rating to a “hold” rating and set a $26.00 target price for the company. in a research report on Tuesday, April 5th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.50.

Shares of NTGR opened at $21.70 on Thursday. NETGEAR has a 12-month low of $19.41 and a 12-month high of $41.96. The business’s fifty day moving average is $24.12 and its 200 day moving average is $27.16. The stock has a market cap of $632.77 million, a P/E ratio of -19.73 and a beta of 0.74.

NETGEAR (NASDAQ:NTGRGet Rating) last issued its earnings results on Wednesday, April 27th. The communications equipment provider reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.30). NETGEAR had a negative return on equity of 4.34% and a negative net margin of 2.90%. During the same period in the prior year, the firm earned $0.72 earnings per share. Analysts anticipate that NETGEAR will post 1.24 earnings per share for the current fiscal year.

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

Several institutional investors and hedge funds have recently made changes to their positions in NTGR. William Blair Investment Management LLC increased its position 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 buying an additional 1,212,115 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of NETGEAR in the fourth quarter worth approximately $21,698,000. BlackRock Inc. increased its position in shares of 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 purchasing 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 position in 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 acquiring an additional 191,162 shares during the last quarter. Hedge funds and other institutional investors own 97.97% of the company’s stock.

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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