NETGEAR, Inc. (NASDAQ:NTGR) Receives $36.00 Average Price Target from Brokerages

NETGEAR, Inc. (NASDAQ:NTGR) has been assigned an average rating of “Hold” from the four ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $36.00.

Several equities research analysts recently issued reports on NTGR shares. Stifel Nicolaus set a $36.00 price target on NETGEAR in a research report on Thursday, February 5th. Zacks Research raised NETGEAR from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Weiss Ratings reissued a “sell (d)” rating on shares of NETGEAR in a research report on Friday, March 27th. Finally, Wall Street Zen raised NETGEAR from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th.

Insider Activity

In related news, insider Pramod Badjate sold 3,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider directly owned 144,586 shares of the company’s stock, valued at approximately $3,031,968.42. This represents a 2.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On NETGEAR

Several large investors have recently added to or reduced their stakes in NTGR. Windward Management LP acquired a new stake in NETGEAR in the fourth quarter worth $35,468,000. Concentric Capital Strategies LP acquired a new stake in NETGEAR in the fourth quarter worth $7,020,000. Lazard Asset Management LLC increased its position in NETGEAR by 87.6% in the third quarter. Lazard Asset Management LLC now owns 548,911 shares of the communications equipment provider’s stock worth $17,779,000 after buying an additional 256,266 shares during the period. OP Asset Management Ltd acquired a new stake in NETGEAR in the first quarter worth $5,266,000. Finally, Jacobs Levy Equity Management Inc. increased its position in NETGEAR by 43.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 717,973 shares of the communications equipment provider’s stock worth $23,255,000 after buying an additional 218,347 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

NETGEAR Trading Down 2.4%

NTGR stock opened at $25.32 on Tuesday. The firm has a market cap of $692.25 million, a P/E ratio of -40.84 and a beta of 1.09. NETGEAR has a 12-month low of $19.00 and a 12-month high of $36.86. The stock’s 50 day simple moving average is $22.46 and its 200 day simple moving average is $24.97.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings results on Wednesday, February 4th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.21. The business had revenue of $182.47 million for the quarter, compared to analyst estimates of $177.26 million. NETGEAR had a negative return on equity of 2.40% and a negative net margin of 2.56%.The business’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.06) EPS. On average, research analysts forecast that NETGEAR will post -0.72 EPS for the current fiscal year.

NETGEAR Company Profile

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.