NETGEAR (NASDAQ:NTGR) Rating Increased to Hold at Zacks Research
by Danessa Lincoln · The Markets DailyZacks Research upgraded shares of NETGEAR (NASDAQ:NTGR – Free Report) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.
Other equities research analysts also recently issued research reports about the company. Weiss Ratings reissued a “sell (d)” rating on shares of NETGEAR in a research report on Monday, December 29th. Wall Street Zen downgraded NETGEAR from a “hold” rating to a “sell” rating in a report on Sunday, March 1st. Finally, Stifel Nicolaus set a $36.00 target price on NETGEAR in a report on Thursday, February 5th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $36.00.
View Our Latest Analysis on NTGR
NETGEAR Stock Up 1.0%
NASDAQ:NTGR opened at $21.35 on Tuesday. The company has a market cap of $600.21 million, a P/E ratio of -34.43 and a beta of 1.16. The firm’s 50 day moving average is $21.59 and its two-hundred day moving average is $26.15. NETGEAR has a fifty-two week low of $18.75 and a fifty-two week high of $36.86.
NETGEAR (NASDAQ:NTGR – Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.21. The company had revenue of $182.47 million during the quarter, compared to analysts’ expectations of $177.26 million. NETGEAR had a negative net margin of 2.56% and a negative return on equity of 2.40%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.06) EPS. Research analysts forecast that NETGEAR will post -1.84 earnings per share for the current fiscal year.
Insider Transactions at NETGEAR
In other news, insider Pramod Badjate sold 3,000 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $20.97, for a total transaction of $62,910.00. Following the transaction, the insider directly owned 144,586 shares of the company’s stock, valued at approximately $3,031,968.42. The trade was a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.30% of the stock is owned by company insiders.
Hedge Funds Weigh In On NETGEAR
Institutional investors have recently made changes to their positions in the business. Windward Management LP bought a new stake in shares of NETGEAR in the fourth quarter worth $35,468,000. Concentric Capital Strategies LP acquired a new stake in shares of NETGEAR in the 4th quarter valued at about $7,020,000. Lazard Asset Management LLC lifted its position in shares of NETGEAR by 87.6% during the third quarter. Lazard Asset Management LLC now owns 548,911 shares of the communications equipment provider’s stock worth $17,779,000 after purchasing an additional 256,266 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in NETGEAR by 43.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 717,973 shares of the communications equipment provider’s stock worth $23,255,000 after purchasing an additional 218,347 shares in the last quarter. Finally, Cinctive Capital Management LP bought a new stake in NETGEAR in the third quarter valued at about $6,433,000. 82.97% of the stock is owned by institutional investors and hedge funds.
NETGEAR Company Profile
NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.
Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.