NETGEAR (NASDAQ:NTGR) Lowered to “Hold” Rating by StockNews.com

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

Separately, Raymond James lifted 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 NASDAQ:NTGR opened at $23.63 on Friday. NETGEAR has a 1-year low of $10.48 and a 1-year high of $31.55. The company has a market capitalization of $682.17 million, a P/E ratio of 59.08 and a beta of 0.72. The firm’s 50 day simple moving average is $26.44 and its two-hundred day simple moving average is $24.14.

NETGEAR (NASDAQ:NTGR) last issued 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 net margin of 1.83% and a negative return on equity of 9.24%. On average, sell-side analysts anticipate that NETGEAR will post -1.84 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Charles J. Prober sold 10,929 shares of NETGEAR stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $26.64, for a total transaction of $291,148.56. Following the sale, the chief executive officer now owns 507,763 shares in the company, valued at $13,526,806.32. This trade represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Murray Bryan sold 3,848 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $23.92, for a total transaction of $92,044.16. Following the completion of the sale, the chief financial officer now owns 193,032 shares in the company, valued at $4,617,325.44. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On NETGEAR

Large investors have recently bought and sold shares of the business. Quarry LP increased its position 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 last quarter. R Squared Ltd bought a new stake in NETGEAR in the fourth quarter worth $72,000. New York State Teachers Retirement System bought a new stake in NETGEAR in the fourth quarter worth $72,000. Summit Investment Advisors Inc. increased its position in NETGEAR by 19.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider’s stock worth $81,000 after purchasing an additional 479 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new stake in NETGEAR in the fourth quarter worth $92,000. 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.