NETGEAR (NASDAQ:NTGR) Shares Cross Above 200 Day Moving Average – What’s Next?

NETGEAR, Inc. (NASDAQ:NTGR)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $26.43 and traded as high as $27.68. NETGEAR shares last traded at $26.70, with a volume of 266,635 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of NETGEAR from a “hold” rating to a “buy” rating in a research note on Monday, May 5th.

NETGEAR Trading Down 1.9%

The firm has a market capitalization of $768.43 million, a price-to-earnings ratio of 32.56 and a beta of 1.14. The business has a 50-day moving average price of $27.36 and a two-hundred day moving average price of $26.43.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings data on Wednesday, April 30th. The communications equipment provider reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.37. NETGEAR had a negative return on equity of 7.63% and a net margin of 3.72%. The firm had revenue of $162.06 million during the quarter, compared to the consensus estimate of $152.24 million. During the same period in the prior year, the business earned ($0.28) EPS. The firm’s revenue was down 1.5% on a year-over-year basis. On average, equities research analysts predict that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.

Insider Transactions at NETGEAR

In related news, CFO Murray Bryan sold 2,671 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $28.09, for a total value of $75,028.39. Following the sale, the chief financial officer now directly owns 178,945 shares in the company, valued at $5,026,565.05. This trade represents a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Laura Durr sold 4,387 shares of NETGEAR stock in a transaction on Friday, June 13th. The shares were sold at an average price of $28.39, for a total value of $124,546.93. Following the sale, the director now directly owns 45,059 shares in the company, valued at $1,279,225.01. The trade was a 8.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,671 shares of company stock worth $565,429. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC lifted its holdings in NETGEAR by 29.3% in the fourth quarter. Hsbc Holdings PLC now owns 73,209 shares of the communications equipment provider’s stock worth $2,012,000 after purchasing an additional 16,588 shares during the period. Tenzing Global Management LLC increased its stake in NETGEAR by 64.3% during the 4th quarter. Tenzing Global Management LLC now owns 287,500 shares of the communications equipment provider’s stock valued at $8,013,000 after buying an additional 112,500 shares during the period. Rhumbline Advisers raised its position in shares of NETGEAR by 32.0% during the 4th quarter. Rhumbline Advisers now owns 69,841 shares of the communications equipment provider’s stock worth $1,946,000 after buying an additional 16,920 shares in the last quarter. Bailard Inc. acquired a new stake in shares of NETGEAR in the 4th quarter worth approximately $362,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of NETGEAR by 30.7% in the 4th quarter. Ameriprise Financial Inc. now owns 116,525 shares of the communications equipment provider’s stock worth $3,248,000 after acquiring an additional 27,379 shares during the period. 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.