NetGear, Inc. (NASDAQ:NTGR) Receives Consensus Recommendation of “Hold” from Analysts

NetGear, Inc. (NASDAQ:NTGR) has been given a consensus rating of “Hold” by the eight ratings firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $57.20.

Several brokerages have recently issued reports on NTGR. BidaskClub downgraded shares of NetGear from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 22nd. Zacks Investment Research downgraded shares of NetGear from a “buy” rating to a “hold” rating in a report on Tuesday, March 12th. Guggenheim began coverage on shares of NetGear in a report on Wednesday, June 19th. They set a “buy” rating and a $40.00 price target for the company. Finally, ValuEngine downgraded shares of NetGear from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 8th.

NASDAQ NTGR opened at $24.75 on Wednesday. The business’s fifty day simple moving average is $26.57. The company has a quick ratio of 1.82, a current ratio of 2.66 and a debt-to-equity ratio of 0.05. NetGear has a fifty-two week low of $24.63 and a fifty-two week high of $78.30. The company has a market capitalization of $799.15 million, a PE ratio of 14.22 and a beta of 1.82.

NetGear (NASDAQ:NTGR) last released its earnings results on Wednesday, April 24th. The communications equipment provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.04). The business had revenue of $249.10 million for the quarter, compared to the consensus estimate of $244.31 million. NetGear had a return on equity of 8.97% and a net margin of 0.35%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.62 earnings per share. On average, equities research analysts expect that NetGear will post 2.08 earnings per share for the current year.

In other NetGear news, SVP Andrew Wonki Kim sold 7,760 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $35.00, for a total transaction of $271,600.00. Following the sale, the senior vice president now owns 54,136 shares of the company’s stock, valued at $1,894,760. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael A. Werdann sold 3,427 shares of the company’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $34.41, for a total transaction of $117,923.07. Following the sale, the senior vice president now directly owns 22,168 shares in the company, valued at approximately $762,800.88. The disclosure for this sale can be found here. Insiders have sold 28,496 shares of company stock worth $941,378 in the last ninety days. Insiders own 5.60% of the company’s stock.

About NetGear

NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. It operates in two segments, Connected Home, and Small and Medium Business. The company offers smart home/connected home/broadband access products, such as broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, WiFi network adapters, and digital canvasses; and value added service offerings, including technical support, parental controls, and cybersecurity protection.

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