NetGear (NASDAQ:NTGR) received a $80.00 price target from Raymond James in a report released on Wednesday. The firm presently has a “buy” rating on the communications equipment provider’s stock. Raymond James’ price objective indicates a potential upside of 17.65% from the company’s previous close.
A number of other research analysts have also issued reports on NTGR. BidaskClub lowered NetGear from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Zacks Investment Research raised NetGear from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 27th. BWS Financial increased their price objective on NetGear from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, July 9th. TheStreet downgraded NetGear from a “b-” rating to a “c+” rating in a research note on Monday, August 13th. Finally, Guggenheim reissued a “buy” rating on shares of NetGear in a research note on Tuesday, August 28th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $72.25.
Shares of NASDAQ:NTGR traded down $1.50 during midday trading on Wednesday, reaching $68.00. 13,033 shares of the company’s stock traded hands, compared to its average volume of 332,840. NetGear has a 1 year low of $44.20 and a 1 year high of $78.30. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 29.35 and a beta of 2.03.
NetGear (NASDAQ:NTGR) last announced its earnings results on Monday, July 23rd. The communications equipment provider reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. NetGear had a positive return on equity of 9.97% and a negative net margin of 0.74%. The firm had revenue of $366.80 million for the quarter, compared to analyst estimates of $350.60 million. During the same quarter last year, the firm posted $0.60 EPS. The business’s revenue was up 10.9% on a year-over-year basis. analysts forecast that NetGear will post 2.2 earnings per share for the current year.
In related news, SVP Michael F. Falcon sold 521 shares of the stock in a transaction on Monday, June 25th. The stock was sold at an average price of $64.10, for a total value of $33,396.10. Following the completion of the transaction, the senior vice president now directly owns 42,797 shares of the company’s stock, valued at approximately $2,743,287.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael F. Falcon sold 520 shares of the stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $62.05, for a total value of $32,266.00. Following the completion of the transaction, the senior vice president now directly owns 40,805 shares of the company’s stock, valued at $2,531,950.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,532 shares of company stock valued at $2,730,203. 5.10% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Contravisory Investment Management Inc. acquired a new stake in shares of NetGear in the 2nd quarter worth $140,000. Stevens Capital Management LP acquired a new stake in shares of NetGear in the 2nd quarter worth $201,000. Fox Run Management L.L.C. acquired a new stake in shares of NetGear in the 2nd quarter worth $239,000. O Shaughnessy Asset Management LLC increased its stake in shares of NetGear by 390.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,022 shares of the communications equipment provider’s stock worth $230,000 after acquiring an additional 3,202 shares during the last quarter. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of NetGear in the 2nd quarter worth $267,000.
NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. The company operates in three segments: Arlo, Connected Home, and Small and Medium Business. It offers smart home/connected home/broadband access products, such as remote video security systems, broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, and WiFi network adapters.
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