NETGEAR (NASDAQ:NTGR) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of NETGEAR (NASDAQ:NTGR) from a hold rating to a buy rating in a report released on Monday morning.

Separately, Raymond James raised their price target on shares of NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a report on Thursday, February 6th.

NETGEAR Stock Performance

NTGR opened at $27.08 on Monday. The company has a market cap of $779.42 million, a PE ratio of 67.70 and a beta of 1.09. NETGEAR has a 1 year low of $11.43 and a 1 year high of $31.55. The firm has a 50 day moving average price of $23.64 and a 200 day moving average price of $25.04.

NETGEAR (NASDAQ:NTGR) last issued its earnings results on Wednesday, April 30th. The communications equipment provider reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.37. NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. The business had revenue of $162.06 million for the quarter, compared to the consensus estimate of $152.24 million. During the same quarter last year, the firm posted ($0.28) EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, sell-side analysts predict that NETGEAR will post -1.84 earnings per share for the current year.

Insider Activity

In other NETGEAR news, CEO Charles J. Prober sold 10,929 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $26.64, for a total transaction of $291,148.56. Following the completion of the transaction, the chief executive officer now directly owns 507,763 shares of the company’s stock, valued at $13,526,806.32. The trade was a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Murray Bryan sold 2,671 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $28.09, for a total transaction of $75,028.39. Following the completion of the sale, the chief financial officer now owns 178,945 shares in the company, valued at $5,026,565.05. The trade was a 1.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 17,448 shares of company stock valued at $458,221. Company insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. New York State Teachers Retirement System bought a new position in shares of NETGEAR in the fourth quarter valued at approximately $72,000. R Squared Ltd bought a new position in NETGEAR during the 4th quarter valued at $72,000. CWM LLC increased its position in shares of NETGEAR by 35.4% during the 1st quarter. CWM LLC now owns 2,916 shares of the communications equipment provider’s stock valued at $71,000 after purchasing an additional 763 shares during the period. Summit Investment Advisors Inc. raised its stake in shares of NETGEAR by 19.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider’s stock worth $81,000 after buying an additional 479 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in shares of NETGEAR in the fourth quarter valued at $92,000. Institutional investors own 82.97% of the company’s stock.

About NETGEAR

NETGEAR, Inc provides connectivity solutions the Americas; Europe, the Middle East, Africa; and the Asia Pacific. The company operates in two segments, Connected Home, and NETGEAR for Business. The Connected Home segment offers Wi-Fi routers and home Wi-Fi mesh systems, Wi-Fi hotspots, digital displays, broadband modems, Wi-Fi gateways, Wi-Fi range extenders, powerline adapters, and Wi-Fi network adapters; and provides value-added service offerings, including security and privacy, technical support, and parental controls.