NetGear, Inc. (NASDAQ:NTGR) Given Average Rating of “Hold” by Brokerages

Shares of NetGear, Inc. (NASDAQ:NTGR) have been assigned an average rating of “Hold” from the nine research firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $52.33.

Several research analysts have weighed in on NTGR shares. Deutsche Bank set a $142.00 target price on MCCORMICK & CO /SH and gave the stock a “hold” rating in a research report on Friday, June 28th. ValuEngine lowered Valero Energy from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. BidaskClub raised Zillow Group from a “hold” rating to a “buy” rating in a report on Wednesday, May 22nd. Zacks Investment Research lowered Great Portland Estates from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Finally, Guggenheim reissued a “hold” rating on shares of Tempur Sealy International in a report on Wednesday, June 19th.

Shares of NetGear stock opened at $26.61 on Friday. The business has a 50-day simple moving average of $25.84. The stock has a market cap of $837.95 million, a P/E ratio of 15.29 and a beta of 1.72. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 2.66. NetGear has a 1 year low of $24.63 and a 1 year high of $76.93.

NetGear (NASDAQ:NTGR) last announced its quarterly earnings data on Wednesday, April 24th. The communications equipment provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.04). NetGear had a return on equity of 8.97% and a net margin of 0.35%. The business had revenue of $249.10 million during the quarter, compared to analysts’ expectations of $244.31 million. During the same period in the prior year, the company posted $0.62 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. Research analysts forecast that NetGear will post 2.06 earnings per share for the current year.

In other NetGear news, SVP Michael A. Werdann sold 2,234 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $26.03, for a total value of $58,151.02. Following the sale, the senior vice president now owns 15,547 shares of the company’s stock, valued at approximately $404,688.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David John Henry sold 1,635 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $26.10, for a total value of $42,673.50. Following the completion of the sale, the senior vice president now directly owns 24,651 shares in the company, valued at approximately $643,391.10. The disclosure for this sale can be found here. Insiders sold a total of 16,597 shares of company stock worth $507,735 in the last ninety days. Insiders own 5.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System bought a new position in shares of NetGear during the 2nd quarter worth approximately $307,000. Oregon Public Employees Retirement Fund bought a new position in shares of NetGear during the 2nd quarter worth approximately $314,000. Finally, New York State Teachers Retirement System bought a new position in shares of NetGear during the 2nd quarter worth approximately $1,908,000. 99.68% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for NetGear (NASDAQ:NTGR)

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