NETGEAR (NASDAQ:NTGR) Upgraded to “Buy” at StockNews.com

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

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

NETGEAR Stock Performance

NETGEAR stock opened at $23.64 on Thursday. The firm has a market cap of $682.46 million, a PE ratio of 59.10 and a beta of 0.72. The firm’s 50 day moving average price is $26.80 and its two-hundred day moving average price is $23.82. NETGEAR has a twelve month low of $10.48 and a twelve month high of $31.55.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share for the quarter, meeting the consensus estimate of ($0.24). NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. Equities analysts anticipate that NETGEAR will post -1.84 EPS for the current fiscal year.

Insider Transactions at NETGEAR

In other news, Director Thomas H. Waechter sold 2,000 shares of the stock in a transaction on Wednesday, December 18th. The shares were 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. This represents a 3.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles J. Prober sold 10,929 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $26.64, for a total transaction of $291,148.56. Following the transaction, 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 disclosure for this sale can be found here. 7.00% of the stock is currently owned by company insiders.

Institutional Trading of NETGEAR

Hedge funds have recently bought and sold shares of the stock. Quarry LP boosted its holdings in 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. New York State Teachers Retirement System bought a new stake in NETGEAR in the 4th quarter valued at $72,000. R Squared Ltd bought a new stake in NETGEAR in the 4th quarter valued at $72,000. Summit Investment Advisors Inc. boosted its holdings in NETGEAR by 19.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider’s stock valued at $81,000 after purchasing an additional 479 shares during the period. Finally, Picton Mahoney Asset Management bought a new stake in NETGEAR in the 4th quarter valued at $92,000. 82.97% of the stock is 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.