NetGear (NTGR) Shares Up 7.6% on Insider Buying Activity

NetGear, Inc. (NASDAQ:NTGR)’s share price shot up 7.6% during trading on Monday after an insider bought additional shares in the company. The company traded as high as $59.95 and last traded at $59.55. 802,599 shares traded hands during trading, an increase of 97% from the average session volume of 407,943 shares. The stock had previously closed at $55.35.

Specifically, Director Jef Graham bought 500 shares of the business’s stock in a transaction on Friday, December 15th. The shares were acquired at an average cost of $54.05 per share, for a total transaction of $27,025.00. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Tamesa Rogers sold 1,500 shares of the stock in a transaction on Monday, October 9th. The shares were sold at an average price of $49.80, for a total value of $74,700.00. The disclosure for this sale can be found here. Insiders sold a total of 102,888 shares of company stock worth $5,028,731 in the last 90 days. 6.20% of the stock is currently owned by company insiders.

Several research firms have recently weighed in on NTGR. BidaskClub raised NetGear from a “hold” rating to a “buy” rating in a report on Thursday. BWS Financial raised NetGear from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Monday, October 9th. Zacks Investment Research cut NetGear from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Finally, Raymond James Financial raised NetGear from a “market perform” rating to an “outperform” rating and set a $62.00 price target on the stock in a report on Monday. Two equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $62.60.

The company has a market capitalization of $1,741.86, a price-to-earnings ratio of 22.23 and a beta of 1.52.

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

Hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. increased its stake in NetGear by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,206 shares of the communications equipment provider’s stock worth $138,000 after buying an additional 482 shares in the last quarter. Amalgamated Bank purchased a new stake in NetGear in the 3rd quarter worth $207,000. M&T Bank Corp increased its stake in NetGear by 31.5% in the 2nd quarter. M&T Bank Corp now owns 5,428 shares of the communications equipment provider’s stock worth $234,000 after buying an additional 1,300 shares in the last quarter. K.J. Harrison & Partners Inc purchased a new stake in NetGear in the 3rd quarter worth $286,000. Finally, First Mercantile Trust Co. increased its stake in NetGear by 12.4% in the 2nd quarter. First Mercantile Trust Co. now owns 6,038 shares of the communications equipment provider’s stock worth $260,000 after buying an additional 668 shares in the last quarter. 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.

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