NETGEAR (NASDAQ:NTGR) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of NETGEAR (NASDAQ:NTGR) from a buy rating to a hold rating in a research note released on Monday.

Separately, Raymond James increased their price target on shares of NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a report on Thursday, February 6th.

NETGEAR Price Performance

Shares of NTGR opened at $24.80 on Monday. The business’s 50 day simple moving average is $27.35 and its 200-day simple moving average is $23.55. NETGEAR has a 1 year low of $10.48 and a 1 year high of $31.55. The stock has a market capitalization of $715.95 million, a price-to-earnings ratio of 62.00 and a beta of 0.72.

NETGEAR (NASDAQ:NTGR) last released its quarterly 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, sell-side analysts expect that NETGEAR will post -1.84 earnings per share 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 dated Wednesday, December 18th. The shares were sold at an average price of $30.42, for a total transaction of $60,840.00. Following the transaction, the director now directly owns 61,135 shares in the company, valued at approximately $1,859,726.70. This represents a 3.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles J. Prober sold 10,929 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $26.64, for a total transaction of $291,148.56. Following the completion of the sale, the chief executive officer now directly owns 507,763 shares of the company’s stock, valued at approximately $13,526,806.32. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NETGEAR

A number of large investors have recently bought and sold shares of NTGR. Quarry LP increased its stake in NETGEAR by 66.5% in the third quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock worth $37,000 after purchasing an additional 741 shares during the period. R Squared Ltd purchased a new stake in shares of NETGEAR during the fourth quarter valued at $72,000. New York State Teachers Retirement System bought a new position in shares of NETGEAR in the fourth quarter worth about $72,000. Summit Investment Advisors Inc. increased its stake in NETGEAR by 19.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider’s stock worth $81,000 after buying an additional 479 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in NETGEAR in the 3rd quarter worth about $91,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

About NETGEAR

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.