Raymond James Raises NETGEAR (NASDAQ:NTGR) Price Target to $29.00

NETGEAR (NASDAQ:NTGR - Free Report) had its price objective upped by Raymond James from $22.00 to $29.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the communications equipment provider's stock.

Separately, StockNews.com upgraded shares of NETGEAR from a "hold" rating to a "buy" rating in a report on Friday, November 1st.

NETGEAR Price Performance

NASDAQ NTGR traded up $0.96 on Thursday, hitting $30.35. The company had a trading volume of 675,147 shares, compared to its average volume of 373,709. The company's fifty day moving average price is $26.93 and its 200-day moving average price is $22.13. The company has a market capitalization of $873.17 million, a PE ratio of 75.88 and a beta of 0.83. NETGEAR has a 12-month low of $10.48 and a 12-month high of $31.55.

NETGEAR (NASDAQ:NTGR - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share for the quarter, hitting the consensus estimate of ($0.24). NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. On average, sell-side analysts anticipate that NETGEAR will post -1.84 EPS for the current year.

Insider Activity at NETGEAR

In related news, Director Thomas H. Waechter sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $30.42, for a total transaction of $60,840.00. Following the sale, the director now directly owns 61,135 shares of the company's stock, valued at $1,859,726.70. This represents a 3.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 7.00% of the company's stock.

Institutional Trading of NETGEAR

Several hedge funds have recently modified their holdings of NTGR. Quarry LP raised its holdings in NETGEAR by 66.5% in the third quarter. Quarry LP now owns 1,856 shares of the communications equipment provider's stock valued at $37,000 after acquiring an additional 741 shares in the last quarter. R Squared Ltd acquired a new position in shares of NETGEAR in the 4th quarter valued at $72,000. New York State Teachers Retirement System acquired a new stake in shares of NETGEAR during the fourth quarter worth about $72,000. Meeder Asset Management Inc. purchased a new position in shares of NETGEAR during the third quarter worth about $91,000. Finally, Picton Mahoney Asset Management acquired a new position in NETGEAR in the 4th quarter valued at about $92,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

NETGEAR Company Profile

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.