NETGEAR (NASDAQ:NTGR) Stock Rating Upgraded by Wall Street Zen

NETGEAR (NASDAQ:NTGR) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other brokerages have also weighed in on NTGR. Zacks Research lowered shares of NETGEAR from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. Weiss Ratings reissued a “sell (d)” rating on shares of NETGEAR in a research note on Monday, December 29th. Stifel Nicolaus set a $36.00 target price on NETGEAR in a research report on Thursday, February 5th. Finally, Raymond James Financial upped their price target on NETGEAR from $29.00 to $37.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Two investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.00.

NETGEAR Stock Performance

Shares of NASDAQ:NTGR opened at $20.87 on Friday. NETGEAR has a twelve month low of $18.75 and a twelve month high of $36.86. The firm has a market cap of $586.66 million, a PE ratio of -33.66 and a beta of 1.15. The business has a fifty day moving average of $22.50 and a 200-day moving average of $26.52.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, February 4th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.21. The business had revenue of $182.47 million for the quarter, compared to the consensus estimate of $177.26 million. NETGEAR had a negative net margin of 2.56% and a negative return on equity of 2.40%. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.06) EPS. On average, analysts anticipate that NETGEAR will post -1.84 EPS for the current fiscal year.

Insider Activity at NETGEAR

In related news, insider Pramod Badjate sold 3,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $20.97, for a total value of $62,910.00. Following the completion of the sale, the insider owned 144,586 shares in the company, valued at approximately $3,031,968.42. This represents a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.30% of the stock is currently owned by company insiders.

Institutional Trading of NETGEAR

A number of institutional investors and hedge funds have recently modified their holdings of NTGR. Allianz Asset Management GmbH boosted its holdings in shares of NETGEAR by 169.0% in the third quarter. Allianz Asset Management GmbH now owns 109,322 shares of the communications equipment provider’s stock valued at $3,541,000 after buying an additional 68,683 shares during the period. Leuthold Group LLC bought a new stake in NETGEAR in the 3rd quarter valued at $3,309,000. Russell Investments Group Ltd. lifted its position in NETGEAR by 77.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 122,703 shares of the communications equipment provider’s stock valued at $3,538,000 after acquiring an additional 53,370 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in NETGEAR by 10.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 690,981 shares of the communications equipment provider’s stock worth $20,087,000 after purchasing an additional 63,398 shares during the period. Finally, Prudential Financial Inc. bought a new position in NETGEAR during the 2nd quarter worth about $1,744,000. 82.97% of the stock is owned by institutional investors.

About NETGEAR

NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.