NetGear, Inc. (NASDAQ:NTGR) SVP Michael F. Falcon sold 521 shares of the stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $70.65, for a total value of $36,808.65. Following the completion of the transaction, the senior vice president now directly owns 41,326 shares in the company, valued at $2,919,681.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of NTGR traded down $1.25 during mid-day trading on Friday, reaching $66.15. The company had a trading volume of 309,066 shares, compared to its average volume of 275,797. NetGear, Inc. has a 52-week low of $44.20 and a 52-week high of $78.30. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 28.51 and a beta of 2.03.
NetGear (NASDAQ:NTGR) last issued its earnings results on Monday, July 23rd. The communications equipment provider reported $0.57 EPS for the quarter, topping 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 the consensus estimate of $350.60 million. During the same quarter in the prior year, the business earned $0.60 earnings per share. The company’s revenue was up 10.9% compared to the same quarter last year. equities research analysts expect that NetGear, Inc. will post 2.2 EPS for the current fiscal year.
A number of brokerages have recently weighed in on NTGR. Guggenheim reissued a “buy” rating on shares of NetGear in a report on Tuesday, August 28th. BidaskClub upgraded NetGear from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 10th. BWS Financial upped their target price on NetGear from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, July 9th. Raymond James set a $80.00 target price on NetGear and gave the stock a “buy” rating in a research note on Wednesday. Finally, ValuEngine downgraded NetGear from a “buy” rating to a “hold” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $72.25.
Several institutional investors and hedge funds have recently modified their holdings of NTGR. BTIM Corp. purchased a new stake in shares of NetGear in the second quarter worth about $33,528,000. Acadian Asset Management LLC purchased a new stake in shares of NetGear in the second quarter worth about $17,811,000. BlackRock Inc. boosted its stake in shares of NetGear by 5.5% in the second quarter. BlackRock Inc. now owns 4,566,762 shares of the communications equipment provider’s stock worth $285,423,000 after buying an additional 236,386 shares during the last quarter. Millennium Management LLC boosted its position in NetGear by 623.9% during the first quarter. Millennium Management LLC now owns 268,105 shares of the communications equipment provider’s stock worth $15,336,000 after purchasing an additional 231,070 shares in the last quarter. Finally, UBS Group AG boosted its position in NetGear by 342.5% during the first quarter. UBS Group AG now owns 214,527 shares of the communications equipment provider’s stock worth $12,271,000 after purchasing an additional 166,046 shares in the last quarter.
NetGear Company Profile
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.
Read More: Do Tariffs Work?
Receive News & Ratings for NetGear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetGear and related companies with MarketBeat.com's FREE daily email newsletter.