NETGEAR (NASDAQ:NTGR) Shares Down 6.5% – Time to Sell?

Shares of NETGEAR, Inc. (NASDAQ:NTGR) fell 6.5% on Monday . The stock traded as low as $26.05 and last traded at $25.9310. 115,262 shares were traded during trading, a decline of 74% from the average session volume of 443,675 shares. The stock had previously closed at $27.74.

Analyst Ratings Changes

A number of brokerages have weighed in on NTGR. Wall Street Zen cut shares of NETGEAR from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Stifel Nicolaus lifted their target price on shares of NETGEAR from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, October 17th. Raymond James Financial upped their price target on NETGEAR from $29.00 to $37.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Weiss Ratings restated a “sell (d+)” rating on shares of NETGEAR in a research report on Thursday. Finally, UBS Group set a $35.00 price objective on NETGEAR in a report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, NETGEAR currently has a consensus rating of “Moderate Buy” and an average target price of $37.33.

NETGEAR Trading Down 8.8%

The company has a market capitalization of $718.60 million, a price-to-earnings ratio of -27.80 and a beta of 1.11. The stock’s fifty day simple moving average is $31.17 and its 200-day simple moving average is $28.97.

Insider Activity

In other NETGEAR news, VP Graeme Mclindin sold 1,205 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $34.26, for a total value of $41,283.30. Following the sale, the vice president owned 30,808 shares of the company’s stock, valued at $1,055,482.08. This trade represents a 3.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bradley Maiorino sold 13,063 shares of NETGEAR stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $35.26, for a total value of $460,601.38. Following the completion of the transaction, the director owned 56,356 shares of the company’s stock, valued at $1,987,112.56. The trade was a 18.82% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 28,072 shares of company stock worth $870,168. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of NETGEAR

Several hedge funds have recently added to or reduced their stakes in the company. Comerica Bank boosted its holdings in NETGEAR by 64.8% in the 3rd quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock valued at $35,000 after purchasing an additional 429 shares in the last quarter. Headlands Technologies LLC lifted its holdings in shares of NETGEAR by 19.6% in the 1st quarter. Headlands Technologies LLC now owns 3,010 shares of the communications equipment provider’s stock valued at $74,000 after buying an additional 494 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of NETGEAR by 44.7% in the third quarter. Jones Financial Companies Lllp now owns 2,323 shares of the communications equipment provider’s stock valued at $75,000 after buying an additional 718 shares in the last quarter. CWM LLC boosted its stake in shares of NETGEAR by 35.4% in the first quarter. CWM LLC now owns 2,916 shares of the communications equipment provider’s stock valued at $71,000 after buying an additional 763 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in NETGEAR by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 100,562 shares of the communications equipment provider’s stock worth $2,460,000 after acquiring an additional 881 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.