NETGEAR (NASDAQ:NTGR) Shares Gap Down – What’s Next?

NETGEAR, Inc. (NASDAQ:NTGR)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $28.15, but opened at $26.00. NETGEAR shares last traded at $26.26, with a volume of 63,637 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NTGR shares. StockNews.com upgraded shares of NETGEAR from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Raymond James lifted their target price on NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a research report on Thursday.

NETGEAR Price Performance

The stock has a market capitalization of $845.55 million, a P/E ratio of 73.48 and a beta of 0.83. The company’s 50-day simple moving average is $26.83 and its 200-day simple moving average is $21.93.

NETGEAR (NASDAQ:NTGR) last issued its earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.24). NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. On average, analysts forecast that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.

Insider Transactions at NETGEAR

In other NETGEAR news, Director Thomas H. Waechter sold 2,000 shares of NETGEAR stock in a transaction 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 transaction, the director now directly owns 61,135 shares of the company’s stock, valued at $1,859,726.70. The trade was a 3.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On NETGEAR

Several hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP increased its holdings in NETGEAR by 66.5% in the 3rd quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock worth $37,000 after purchasing an additional 741 shares in the last quarter. New York State Teachers Retirement System acquired a new position in shares of NETGEAR in the fourth quarter valued at approximately $72,000. R Squared Ltd bought a new position in NETGEAR in the 4th quarter valued at approximately $72,000. Meeder Asset Management Inc. bought a new position in NETGEAR in the 3rd quarter valued at approximately $91,000. Finally, AlphaQuest LLC acquired a new stake in NETGEAR during the 4th quarter worth approximately $185,000. 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.