NETGEAR (NASDAQ:NTGR - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a report released on Friday.
NETGEAR Price Performance
Shares of NASDAQ NTGR traded up $0.86 during mid-day trading on Friday, hitting $22.78. The company had a trading volume of 589,036 shares, compared to its average volume of 256,914. NETGEAR has a 12 month low of $10.48 and a 12 month high of $23.10. The stock has a market cap of $653.33 million, a price-to-earnings ratio of 35.05 and a beta of 0.83. The firm's 50 day simple moving average is $19.46 and its two-hundred day simple moving average is $16.16.
NETGEAR (NASDAQ:NTGR - Get Free Report) last posted its earnings results on Wednesday, July 31st. The communications equipment provider reported ($0.94) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.94). The company had revenue of $143.90 million for the quarter, compared to analysts' expectations of $132.69 million. NETGEAR had a negative return on equity of 8.26% and a net margin of 2.88%. Equities analysts forecast that NETGEAR will post -1.97 earnings per share for the current year.
Insider Buying and Selling at NETGEAR
In related news, Director Thomas H. Waechter sold 2,500 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $20.00, for a total value of $50,000.00. Following the completion of the transaction, the director now directly owns 65,318 shares of the company's stock, valued at $1,306,360. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.00% of the stock is owned by company insiders.
Hedge Funds Weigh In On NETGEAR
Large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of NETGEAR by 3.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 37,779 shares of the communications equipment provider's stock valued at $596,000 after acquiring an additional 1,247 shares in the last quarter. Rhumbline Advisers increased its position in shares of NETGEAR by 4.2% during the 2nd quarter. Rhumbline Advisers now owns 47,101 shares of the communications equipment provider's stock valued at $721,000 after purchasing an additional 1,904 shares during the period. Headlands Technologies LLC acquired a new position in shares of NETGEAR during the 1st quarter valued at $30,000. Donald Smith & CO. Inc. raised its stake in shares of NETGEAR by 0.7% in the 1st quarter. Donald Smith & CO. Inc. now owns 294,200 shares of the communications equipment provider's stock worth $4,640,000 after buying an additional 2,008 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of NETGEAR by 7.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,180 shares of the communications equipment provider's stock valued at $1,190,000 after buying an additional 4,816 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.
About NETGEAR
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider NETGEAR, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NETGEAR wasn't on the list.
While NETGEAR currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering when you'll finally be able to invest in SpaceX, StarLink, or The Boring Company? Click the link below to learn when Elon Musk will let these companies finally IPO.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
