NETGEAR (NASDAQ:NTGR) Upgraded at Zacks Research

Zacks Research upgraded shares of NETGEAR (NASDAQ:NTGR) from a strong sell rating to a hold rating in a research note released on Tuesday morning,Zacks.com reports.

Several other research analysts have also issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a research note on Monday, December 29th. Wall Street Zen downgraded shares of NETGEAR from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Finally, Stifel Nicolaus set a $36.00 target price on shares of NETGEAR in a report on Thursday, February 5th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, NETGEAR has a consensus rating of “Hold” and a consensus price target of $36.00.

NETGEAR Trading Down 0.8%

NASDAQ NTGR opened at $21.18 on Tuesday. NETGEAR has a 1-year low of $18.75 and a 1-year high of $36.86. The company has a market capitalization of $595.37 million, a price-to-earnings ratio of -34.16 and a beta of 1.16. The stock’s 50 day moving average is $21.52 and its two-hundred day moving average is $26.11.

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

Insiders Place Their Bets

In related news, insider Pramod Badjate sold 3,000 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $20.97, for a total transaction of $62,910.00. Following the completion of the sale, the insider directly owned 144,586 shares of the company’s stock, valued at $3,031,968.42. This trade represents a 2.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of NETGEAR

Several large investors have recently made changes to their positions in the business. Johnson Financial Group Inc. bought a new position in shares of NETGEAR in the fourth quarter valued at about $25,000. Comerica Bank grew its holdings in NETGEAR by 64.8% during the 3rd quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock worth $35,000 after acquiring an additional 429 shares during the last quarter. IFP Advisors Inc grew its holdings in NETGEAR by 161.7% during the 4th quarter. IFP Advisors Inc now owns 2,243 shares of the communications equipment provider’s stock worth $55,000 after acquiring an additional 1,386 shares during the last quarter. Rexford Capital Inc. acquired a new stake in NETGEAR in the 2nd quarter valued at about $58,000. Finally, Jones Financial Companies Lllp increased its position in NETGEAR by 44.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,323 shares of the communications equipment provider’s stock valued at $75,000 after acquiring an additional 718 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

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.