NetGear (NTGR) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of NetGear (NASDAQ:NTGR) from a hold rating to a buy rating in a research note published on Thursday morning.

NTGR has been the subject of several other reports. BWS Financial raised shares of NetGear from a hold rating to a buy rating and set a $60.00 target price for the company in a research note on Monday, October 9th. Zacks Investment Research lowered shares of NetGear from a hold rating to a sell rating in a report on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $62.75.

Shares of NetGear (NASDAQ NTGR) opened at $55.35 on Thursday. The company has a market cap of $1,741.86, a P/E ratio of 22.23 and a beta of 1.52. NetGear has a 12 month low of $41.50 and a 12 month high of $58.50.

NetGear (NASDAQ:NTGR) last released its earnings results on Wednesday, October 25th. The communications equipment provider reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.13. The firm had revenue of $355.48 million during the quarter, compared to analysts’ expectations of $349.36 million. NetGear had a net margin of 5.33% and a return on equity of 10.57%. NetGear’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.76 EPS. analysts predict that NetGear will post 2.24 EPS for the current year.

In related news, Chairman Patrick Cs Lo sold 19,799 shares of NetGear stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $47.63, for a total transaction of $943,026.37. Following the transaction, the chairman now owns 183,125 shares in the company, valued at approximately $8,722,243.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael F. Falcon sold 14,912 shares of NetGear stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $49.94, for a total transaction of $744,705.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,888 shares of company stock worth $4,866,581. 6.20% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the stock. Brandes Investment Partners LP purchased a new stake in NetGear during the 2nd quarter worth $2,293,000. Eaton Vance Management increased its stake in NetGear by 193.6% during the 2nd quarter. Eaton Vance Management now owns 271,238 shares of the communications equipment provider’s stock worth $11,690,000 after buying an additional 178,855 shares during the period. Goldman Sachs Group Inc. increased its stake in NetGear by 9.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 121,997 shares of the communications equipment provider’s stock worth $5,258,000 after buying an additional 10,637 shares during the period. Alliancebernstein L.P. increased its stake in NetGear by 28.2% during the 2nd quarter. Alliancebernstein L.P. now owns 1,417,760 shares of the communications equipment provider’s stock worth $61,105,000 after buying an additional 311,735 shares during the period. Finally, State Street Corp increased its stake in NetGear by 1.8% during the 2nd quarter. State Street Corp now owns 842,782 shares of the communications equipment provider’s stock worth $36,319,000 after buying an additional 14,817 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

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About NetGear

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.

Analyst Recommendations for NetGear (NASDAQ:NTGR)

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