NETGEAR (NASDAQ:NTGR) Rating Lowered to Hold at StockNews.com

NETGEAR (NASDAQ:NTGR) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

NETGEAR Stock Down 1.8 %

NTGR opened at $20.54 on Tuesday. NETGEAR has a 52 week low of $10.40 and a 52 week high of $22.62. The business has a 50 day moving average price of $16.19 and a two-hundred day moving average price of $14.94. The company has a market cap of $597.71 million, a PE ratio of -5.34 and a beta of 0.82.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings results on Wednesday, July 31st. The communications equipment provider reported ($0.94) EPS for the quarter, hitting the consensus estimate of ($0.94). NETGEAR had a negative return on equity of 7.52% and a negative net margin of 21.62%. The business had revenue of $143.90 million during the quarter, compared to analysts’ expectations of $132.69 million. As a group, sell-side analysts expect that NETGEAR will post -2.29 EPS for the current fiscal year.

Insider Transactions at NETGEAR

In related news, Director Thomas H. Waechter sold 2,500 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.00, for a total value of $50,000.00. Following the completion of the sale, the director now owns 65,318 shares in the company, valued at $1,306,360. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On NETGEAR

A number of institutional investors and hedge funds have recently made changes to their positions in NTGR. Mizuho Markets Americas LLC purchased a new stake in NETGEAR during the first quarter worth about $1,055,000. First Eagle Investment Management LLC boosted its stake in shares of NETGEAR by 39.1% during the 1st quarter. First Eagle Investment Management LLC now owns 163,412 shares of the communications equipment provider’s stock worth $2,577,000 after acquiring an additional 45,900 shares in the last quarter. Trexquant Investment LP grew its holdings in shares of NETGEAR by 28.6% in the 4th quarter. Trexquant Investment LP now owns 113,952 shares of the communications equipment provider’s stock worth $1,661,000 after acquiring an additional 25,329 shares during the period. Pinnacle Holdings LLC grew its holdings in shares of NETGEAR by 11.6% in the 4th quarter. Pinnacle Holdings LLC now owns 37,731 shares of the communications equipment provider’s stock worth $550,000 after acquiring an additional 3,924 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in NETGEAR by 3.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 37,779 shares of the communications equipment provider’s stock valued at $596,000 after purchasing an additional 1,247 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

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.