NETGEAR (NASDAQ:NTGR) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of NETGEAR (NASDAQ:NTGR) from a buy rating to a hold rating in a research report report published on Friday.

Separately, Raymond James lifted their price objective on shares of NETGEAR from $22.00 to $29.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th.

NETGEAR Trading Down 2.3 %

NTGR opened at $23.63 on Friday. The business’s 50 day moving average is $26.44 and its 200-day moving average is $24.25. The stock has a market cap of $682.17 million, a PE ratio of 59.08 and a beta of 0.72. NETGEAR has a twelve month low of $10.48 and a twelve month high of $31.55.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings data on Wednesday, February 5th. The communications equipment provider reported ($0.24) EPS for the quarter, meeting analysts’ consensus estimates of ($0.24). NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. As a group, analysts forecast that NETGEAR will post -1.84 EPS for the current year.

Insider Buying and Selling at NETGEAR

In related news, CEO Charles J. Prober sold 10,929 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $26.64, for a total value of $291,148.56. Following the completion of the sale, the chief executive officer now directly owns 507,763 shares in the company, valued at approximately $13,526,806.32. This represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Murray Bryan sold 3,848 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $23.92, for a total transaction of $92,044.16. Following the completion of the sale, the chief financial officer now owns 193,032 shares of the company’s stock, valued at $4,617,325.44. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On NETGEAR

A number of hedge funds have recently bought and sold shares of NTGR. Quarry LP raised its position in shares of NETGEAR by 66.5% during the third quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock valued at $37,000 after buying an additional 741 shares during the last quarter. R Squared Ltd acquired a new position in shares of NETGEAR during the fourth quarter valued at about $72,000. New York State Teachers Retirement System acquired a new position in shares of NETGEAR during the fourth quarter valued at about $72,000. Summit Investment Advisors Inc. raised its position in shares of NETGEAR by 19.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider’s stock valued at $81,000 after buying an additional 479 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in shares of NETGEAR during the fourth quarter valued at about $92,000. 82.97% of the stock is currently owned by institutional investors.

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.