Brokerages Set NETGEAR, Inc. (NASDAQ:NTGR) Target Price at $36.50

Shares of NETGEAR, Inc. (NASDAQ:NTGR) have earned a consensus rating of “Hold” from the four brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $36.50.

NTGR has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of NETGEAR in a report on Wednesday, June 24th. Wall Street Zen downgraded NETGEAR from a “hold” rating to a “sell” rating in a report on Saturday.

Insiders Place Their Bets

In other NETGEAR news, insider Pramod Badjate sold 3,000 shares of NETGEAR stock in a transaction on Friday, July 31st. The stock was sold at an average price of $23.88, for a total value of $71,640.00. Following the completion of the transaction, the insider owned 154,073 shares in the company, valued at approximately $3,679,263.24. The trade was a 1.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Laura Durr sold 1,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $26.76, for a total value of $26,760.00. Following the completion of the transaction, the director directly owned 42,059 shares in the company, valued at approximately $1,125,498.84. This represents a 2.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its position in shares of NETGEAR by 77.8% during the first quarter. Renaissance Technologies LLC now owns 557,462 shares of the communications equipment provider’s stock worth $12,175,000 after purchasing an additional 243,843 shares in the last quarter. Concentric Capital Strategies LP bought a new stake in shares of NETGEAR during the fourth quarter valued at approximately $7,020,000. Anchor Capital Advisors LLC acquired a new stake in shares of NETGEAR in the fourth quarter valued at approximately $2,131,000. Hara Capital LLC acquired a new stake in shares of NETGEAR in the second quarter valued at approximately $1,456,000. Finally, OP Asset Management Ltd bought a new position in NETGEAR in the 1st quarter worth approximately $5,266,000. 82.97% of the stock is owned by institutional investors.

NETGEAR Stock Performance

NTGR opened at $21.09 on Monday. The firm has a market cap of $573.23 million, a price-to-earnings ratio of -22.68 and a beta of 1.20. The firm’s 50-day simple moving average is $23.00 and its 200-day simple moving average is $23.37. NETGEAR has a twelve month low of $19.00 and a twelve month high of $36.86.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings results on Thursday, August 6th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.15. The firm had revenue of $168.56 million during the quarter, compared to the consensus estimate of $157.80 million. NETGEAR had a negative net margin of 3.71% and a negative return on equity of 2.79%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the firm posted $0.06 EPS. As a group, sell-side analysts anticipate that NETGEAR will post -0.52 EPS for the current fiscal year.

NETGEAR Company Profile

NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.