NETGEAR (NASDAQ:NTGR) Lowered to “Hold” Rating by StockNews.com

StockNews.com cut shares of NETGEAR (NASDAQ:NTGR) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

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

NETGEAR Stock Down 5.4 %

Shares of NASDAQ:NTGR opened at $24.87 on Monday. The company’s fifty day moving average is $27.49 and its two-hundred day moving average is $23.48. The company has a market cap of $717.97 million, a P/E ratio of 62.18 and a beta of 0.83. NETGEAR has a 12-month low of $10.48 and a 12-month high of $31.55.

NETGEAR (NASDAQ:NTGR) last issued its earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share (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%. Equities research analysts anticipate that NETGEAR will post -1.84 earnings per share for the current year.

Insider Activity

In other NETGEAR news, CEO Charles J. Prober sold 10,929 shares of the firm’s stock in a transaction dated 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 owns 507,763 shares in the company, valued at approximately $13,526,806.32. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas H. Waechter sold 2,000 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $1,859,726.70. The trade was a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.

Institutional Trading of NETGEAR

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. raised its stake 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 worth $81,000 after buying an additional 479 shares during the last quarter. 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 period. Legal & General Group Plc grew its stake in shares of NETGEAR by 2.6% during the fourth quarter. Legal & General Group Plc now owns 32,902 shares of the communications equipment provider’s stock worth $917,000 after purchasing an additional 846 shares during the period. Franklin Resources Inc. increased its holdings in NETGEAR by 5.3% in the third quarter. Franklin Resources Inc. now owns 42,673 shares of the communications equipment provider’s stock valued at $883,000 after purchasing an additional 2,166 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in NETGEAR by 49.3% in the fourth quarter. New York State Common Retirement Fund now owns 7,566 shares of the communications equipment provider’s stock valued at $211,000 after buying an additional 2,500 shares during the period. 82.97% of the stock is owned by institutional investors.

NETGEAR Company Profile

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.