NETGEAR (NASDAQ:NTGR) Price Target Raised to $29.00

NETGEAR (NASDAQ:NTGR) had its target price raised by research analysts at Raymond James from $22.00 to $29.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the communications equipment provider’s stock. Raymond James’ price objective indicates a potential upside of 5.34% from the stock’s previous close.

Separately, StockNews.com raised NETGEAR from a “hold” rating to a “buy” rating in a research note on Friday, November 1st.

NETGEAR Stock Down 2.2 %

Shares of NETGEAR stock traded down $0.62 on Thursday, reaching $27.53. The company’s stock had a trading volume of 520,501 shares, compared to its average volume of 333,308. The company has a market capitalization of $792.04 million, a P/E ratio of 42.28 and a beta of 0.83. NETGEAR has a 52-week low of $10.48 and a 52-week high of $31.55. The stock has a 50-day moving average price of $26.74 and a 200-day moving average price of $21.89.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.24). NETGEAR had a negative return on equity of 8.06% and a net margin of 2.88%. Sell-side analysts forecast that NETGEAR will post -1.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NETGEAR news, Director Thomas H. Waechter sold 2,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $30.42, for a total transaction of $60,840.00. Following the transaction, the director now owns 61,135 shares of the company’s stock, valued at approximately $1,859,726.70. The trade was a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 7.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NETGEAR

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTGR. Quarry LP lifted its stake in shares of NETGEAR by 66.5% in the 3rd quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock valued at $37,000 after purchasing an additional 741 shares during the last quarter. R Squared Ltd acquired a new position in shares of NETGEAR in the 4th quarter valued at $72,000. New York State Teachers Retirement System acquired a new position in shares of NETGEAR in the 4th quarter valued at $72,000. Meeder Asset Management Inc. acquired a new position in shares of NETGEAR in the 3rd quarter valued at $91,000. Finally, Values First Advisors Inc. acquired a new position in shares of NETGEAR in the 3rd quarter valued at $144,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

About NETGEAR

NETGEAR, Inc provides connectivity solutions the Americas; Europe, the Middle East, Africa; and the Asia Pacific. The company operates in two segments, Connected Home, and NETGEAR for Business. The Connected Home segment offers Wi-Fi routers and home Wi-Fi mesh systems, Wi-Fi hotspots, digital displays, broadband modems, Wi-Fi gateways, Wi-Fi range extenders, powerline adapters, and Wi-Fi network adapters; and provides value-added service offerings, including security and privacy, technical support, and parental controls.