StockNews.com downgraded shares of NETGEAR (NASDAQ:NTGR - Free Report) from a buy rating to a hold rating in a research report sent to investors on Friday morning.
Separately, Raymond James lifted their price objective on shares of NETGEAR from $22.00 to $29.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th.
Read Our Latest Research Report on NTGR
NETGEAR Trading Up 4.5 %
NTGR traded up $1.06 during trading on Friday, hitting $24.69. 221,282 shares of the company's stock were exchanged, compared to its average volume of 301,836. NETGEAR has a 1 year low of $10.48 and a 1 year high of $31.55. The stock has a 50 day moving average price of $26.44 and a 200 day moving average price of $24.25. The firm has a market cap of $712.78 million, a P/E ratio of 61.73 and a beta of 0.72.
NETGEAR (NASDAQ:NTGR - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The communications equipment provider reported ($0.24) EPS for the quarter, hitting analysts' consensus estimates of ($0.24). NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. Analysts forecast that NETGEAR will post -1.84 earnings per share for the current fiscal year.
Insider Buying and Selling
In other NETGEAR news, CFO Murray Bryan sold 3,848 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $23.92, for a total transaction of $92,044.16. Following the transaction, the chief financial officer now directly owns 193,032 shares in the company, valued at $4,617,325.44. This represents a 1.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Charles J. Prober sold 10,929 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $26.64, for a total transaction of $291,148.56. Following the completion of the sale, the chief executive officer now directly owns 507,763 shares of the company's stock, valued at $13,526,806.32. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.00% of the company's stock.
Institutional Trading of NETGEAR
Several institutional investors and hedge funds have recently bought and sold shares of the company. Summit Investment Advisors Inc. raised its position in shares of NETGEAR by 19.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider's stock valued at $81,000 after acquiring an additional 479 shares in the last quarter. Quarry LP raised its position in NETGEAR by 66.5% in the third quarter. Quarry LP now owns 1,856 shares of the communications equipment provider's stock worth $37,000 after acquiring an additional 741 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of NETGEAR by 2.6% in the 4th quarter. Legal & General Group Plc now owns 32,902 shares of the communications equipment provider's stock worth $917,000 after acquiring an additional 846 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of NETGEAR by 5.3% during the third quarter. Franklin Resources Inc. now owns 42,673 shares of the communications equipment provider's stock valued at $883,000 after acquiring an additional 2,166 shares during the period. Finally, New York State Common Retirement Fund boosted its position in NETGEAR by 49.3% during the 4th quarter. New York State Common Retirement Fund now owns 7,566 shares of the communications equipment provider's stock worth $211,000 after acquiring an additional 2,500 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.
NETGEAR Company Profile
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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.
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