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

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

NETGEAR Stock Down 2.1 %

NETGEAR stock opened at $20.91 on Tuesday. NETGEAR has a 52 week low of $10.40 and a 52 week high of $22.62. The company’s 50 day moving average price is $16.07 and its two-hundred day moving average price is $14.90. The stock has a market cap of $608.48 million, a P/E ratio of -5.43 and a beta of 0.82.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, July 31st. The communications equipment provider reported ($0.94) EPS for the quarter, hitting analysts’ consensus estimates of ($0.94). The business had revenue of $143.90 million for the quarter, compared to analyst estimates of $132.69 million. NETGEAR had a negative return on equity of 7.52% and a negative net margin of 21.62%. On average, equities analysts anticipate that NETGEAR will post -2.29 EPS for the current year.

Insider Buying and Selling

In other NETGEAR news, Director Thomas H. Waechter sold 2,500 shares of the business’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 transaction, the director now directly owns 65,318 shares in the company, valued at $1,306,360. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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. Acadian Asset Management LLC lifted its stake in shares of NETGEAR by 72.4% during the 1st quarter. Acadian Asset Management LLC now owns 622,936 shares of the communications equipment provider’s stock valued at $9,820,000 after buying an additional 261,705 shares in the last quarter. Brandes Investment Partners LP lifted its position in shares of NETGEAR by 6.8% during the second quarter. Brandes Investment Partners LP now owns 3,896,492 shares of the communications equipment provider’s stock worth $59,246,000 after acquiring an additional 247,162 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of NETGEAR by 137.3% in the second quarter. American Century Companies Inc. now owns 353,893 shares of the communications equipment provider’s stock worth $5,415,000 after acquiring an additional 204,734 shares during the period. Vanguard Group Inc. grew its position in shares of NETGEAR by 4.4% in the first quarter. Vanguard Group Inc. now owns 2,513,785 shares of the communications equipment provider’s stock valued at $39,642,000 after purchasing an additional 105,994 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of NETGEAR by 125.0% during the 2nd quarter. Federated Hermes Inc. now owns 127,892 shares of the communications equipment provider’s stock valued at $1,957,000 after purchasing an additional 71,054 shares during the period. Institutional investors own 82.97% of the company’s stock.

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.