Raymond James Issues Positive Forecast for NETGEAR (NASDAQ:NTGR) Stock Price

NETGEAR (NASDAQ:NTGR) had its price target increased by Raymond James from $22.00 to $29.00 in a report released on Thursday,Benzinga reports. They currently have 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 opened at $28.53 on Thursday. The firm has a market capitalization of $820.81 million, a price-to-earnings ratio of 43.89 and a beta of 0.83. The business has a 50 day simple moving average of $26.74 and a 200-day simple moving average of $21.89. NETGEAR has a 1 year low of $10.48 and a 1 year high of $31.55.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.24). NETGEAR had a negative return on equity of 8.06% and a net margin of 2.88%. As a group, analysts expect that NETGEAR will post -1.66 earnings per share for the current fiscal year.

Insider Buying and Selling at NETGEAR

In related news, Director Thomas H. Waechter sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $30.42, for a total value of $60,840.00. Following the completion of the sale, the director now owns 61,135 shares in the company, valued at approximately $1,859,726.70. The trade was a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NETGEAR

Institutional investors have recently made changes to their positions in the company. Empowered Funds LLC increased its holdings in shares of NETGEAR by 23.2% in the 3rd quarter. Empowered Funds LLC now owns 141,976 shares of the communications equipment provider’s stock valued at $2,848,000 after acquiring an additional 26,756 shares during the period. Inspire Investing LLC acquired a new stake in shares of NETGEAR during the fourth quarter worth $852,000. Robeco Institutional Asset Management B.V. lifted its position in NETGEAR by 285.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 79,693 shares of the communications equipment provider’s stock worth $2,221,000 after acquiring an additional 59,005 shares during the period. Franklin Resources Inc. increased its holdings in NETGEAR by 5.3% in the 3rd quarter. Franklin Resources Inc. now owns 42,673 shares of the communications equipment provider’s stock worth $883,000 after buying an additional 2,166 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of NETGEAR in the third quarter worth $1,805,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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.