NETGEAR (NASDAQ:NTGR) Stock Rating Upgraded by StockNews.com

NETGEAR (NASDAQ:NTGR) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Separately, Raymond James raised 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 Stock Down 3.1 %

Shares of NASDAQ:NTGR traded down $0.76 during midday trading on Thursday, reaching $23.64. 369,535 shares of the company traded hands, compared to its average volume of 387,219. NETGEAR has a 12 month low of $10.48 and a 12 month high of $31.55. The firm’s fifty day moving average price is $26.80 and its two-hundred day moving average price is $23.82. The firm has a market capitalization of $682.46 million, a price-to-earnings ratio of 59.10 and a beta of 0.72.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share for the quarter, meeting the consensus estimate of ($0.24). NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. Analysts forecast that NETGEAR will post -1.84 earnings per share for the current year.

Insider Buying and Selling at NETGEAR

In other news, CEO Charles J. Prober sold 10,929 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $26.64, for a total value of $291,148.56. Following the completion of the transaction, the chief executive officer now directly owns 507,763 shares in the company, valued at approximately $13,526,806.32. This represents a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 of the company’s stock, valued at $1,859,726.70. The trade was a 3.17 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp purchased a new stake in shares of NETGEAR in the 4th quarter valued at $1,190,000. Public Employees Retirement System of Ohio boosted its position in NETGEAR by 27.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 52,169 shares of the communications equipment provider’s stock valued at $1,454,000 after buying an additional 11,259 shares during the period. PharVision Advisers LLC purchased a new stake in NETGEAR during the fourth quarter valued at about $227,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of NETGEAR by 44.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 65,125 shares of the communications equipment provider’s stock valued at $1,815,000 after buying an additional 20,158 shares during the last quarter. Finally, Tenzing Global Management LLC increased its holdings in shares of NETGEAR by 64.3% in the fourth quarter. Tenzing Global Management LLC now owns 287,500 shares of the communications equipment provider’s stock worth $8,013,000 after buying an additional 112,500 shares during the period. 82.97% of the stock is currently owned by institutional investors.

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.