NetGear, Inc. (NASDAQ:NTGR) SVP Michael F. Falcon sold 1,042 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $49.55, for a total value of $51,631.10. Following the sale, the senior vice president now owns 30,560 shares of the company’s stock, valued at $1,514,248. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
NetGear, Inc. (NASDAQ:NTGR) traded down 2.60% during mid-day trading on Friday, reaching $50.65. The company had a trading volume of 318,781 shares. NetGear, Inc. has a 12-month low of $38.71 and a 12-month high of $60.82. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 22.51 and a beta of 1.62. The firm has a 50-day moving average price of $51.32 and a 200 day moving average price of $53.59.
NetGear (NASDAQ:NTGR) last posted its earnings results on Tuesday, February 7th. The communications equipment provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.11. The business had revenue of $367.90 million for the quarter, compared to the consensus estimate of $349.97 million. NetGear had a net margin of 5.71% and a return on equity of 12.00%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 EPS. Analysts expect that NetGear, Inc. will post $3.16 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of NTGR. Meeder Asset Management Inc. purchased a new position in shares of NetGear during the third quarter worth about $116,000. Victory Capital Management Inc. increased its position in shares of NetGear by 29.3% in the third quarter. Victory Capital Management Inc. now owns 1,954 shares of the communications equipment provider’s stock worth $118,000 after buying an additional 443 shares during the last quarter. Elkfork Partners LLC purchased a new position in shares of NetGear during the fourth quarter worth about $144,000. SECOR Capital Advisors LP purchased a new position in shares of NetGear during the third quarter worth about $211,000. Finally, Daiwa Securities Group Inc. purchased a new position in shares of NetGear during the third quarter worth about $218,000. 98.73% of the stock is currently owned by hedge funds and other institutional investors.
NTGR has been the subject of several recent analyst reports. Guggenheim initiated coverage on NetGear in a research note on Wednesday, January 4th. They set a “buy” rating and a $70.00 target price for the company. Zacks Investment Research upgraded NetGear from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Wednesday, December 28th. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of NetGear in a report on Wednesday, February 8th. Finally, Off Wall Street reiterated a “sell” rating and set a $36.00 price target on shares of NetGear in a report on Monday, March 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $57.79.
NetGear Company Profile
NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.
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