NETGEAR (NASDAQ:NTGR) Cut to Sell at StockNews.com

NETGEAR (NASDAQ:NTGR – Get Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Several other equities research analysts have also commented on NTGR. TheStreet lowered shares of NETGEAR from a “c” rating to a “d+” rating in a report on Thursday, April 28th. Raymond James cut their price target on shares of NETGEAR from $34.00 to $31.00 and set an “outperform” rating for the company in a report on Thursday, February 3rd. BWS Financial cut their price target on shares of NETGEAR from $30.00 to $27.00 in a report on Monday, April 18th. Zacks Investment Research lowered shares of NETGEAR from a “hold” rating to a “strong sell” rating and set a $19.00 target price for the company. in a report on Wednesday, May 4th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of NETGEAR from $25.00 to $22.00 in a report on Thursday, April 28th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $24.75.

NASDAQ:NTGR opened at $19.62 on Thursday. The firm has a market cap of $572.14 million, a price-to-earnings ratio of -17.84 and a beta of 0.78. The company has a 50 day moving average price of $23.21 and a 200-day moving average price of $26.43. NETGEAR has a 1-year low of $19.41 and a 1-year high of $41.96.

NETGEAR (NASDAQ:NTGR – Get Rating) last issued its quarterly earnings results on Wednesday, April 27th. The communications equipment provider reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.30). NETGEAR had a negative return on equity of 4.45% and a negative net margin of 2.90%. During the same quarter in the previous year, the business posted $0.72 earnings per share. As a group, equities research analysts forecast that NETGEAR will post -1.88 EPS for the current year.

In other news, SVP Vikram Mehta sold 2,760 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $21.94, for a total transaction of $60,554.40. Following the transaction, the senior vice president now owns 50,313 shares of the company’s stock, valued at approximately $1,103,867.22. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Heidi Cormack sold 2,105 shares of the business’s stock in a transaction dated Thursday, April 21st. The shares were sold at an average price of $22.52, for a total transaction of $47,404.60. Following the transaction, the senior vice president now directly owns 61,421 shares in the company, valued at approximately $1,383,200.92. The disclosure for this sale can be found here. 4.70% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. Royal Bank of Canada lifted its position in NETGEAR by 187.3% in the second quarter. Royal Bank of Canada now owns 839 shares of the communications equipment provider’s stock valued at $32,000 after buying an additional 547 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new position in NETGEAR in the first quarter valued at about $36,000. Pinebridge Investments L.P. acquired a new position in NETGEAR in the fourth quarter valued at about $73,000. Captrust Financial Advisors lifted its position in NETGEAR by 24.6% in the third quarter. Captrust Financial Advisors now owns 3,088 shares of the communications equipment provider’s stock valued at $99,000 after buying an additional 609 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new position in NETGEAR in the fourth quarter valued at about $217,000. 93.08% of the stock is currently owned by hedge funds and other institutional investors.

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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