NetGear (NASDAQ:NTGR) Given a $75.00 Price Target by BWS Financial Analysts

NetGear (NASDAQ:NTGR) has been given a $75.00 price objective by BWS Financial in a note issued to investors on Friday, January 12th. The brokerage presently has a “buy” rating on the communications equipment provider’s stock. BWS Financial’s price objective would indicate a potential upside of 5.93% from the company’s previous close.

A number of other equities analysts have also issued reports on the company. BidaskClub raised NetGear from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 21st. Raymond James Financial raised NetGear from a “market perform” rating to an “outperform” rating and set a $62.00 price objective for the company in a report on Monday, December 18th. Finally, Zacks Investment Research lowered NetGear from a “hold” rating to a “sell” rating in a report on Friday, October 13th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company. NetGear has a consensus rating of “Buy” and an average price target of $65.20.

NetGear (NTGR) traded up $0.05 during trading hours on Friday, hitting $70.80. The stock had a trading volume of 398,381 shares, compared to its average volume of 589,564. The company has a market capitalization of $2,230.00, a price-to-earnings ratio of 32.18 and a beta of 1.53. NetGear has a 52 week low of $41.50 and a 52 week high of $71.00.

NetGear (NASDAQ:NTGR) last posted its earnings results on Wednesday, October 25th. The communications equipment provider reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.13. The company had revenue of $355.48 million during the quarter, compared to analyst estimates of $349.36 million. NetGear had a return on equity of 10.57% and a net margin of 5.33%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 earnings per share. equities research analysts predict that NetGear will post 2.25 earnings per share for the current fiscal year.

In other NetGear news, CEO Patrick Cs Lo sold 13,999 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $59.92, for a total transaction of $838,820.08. Following the completion of the transaction, the chief executive officer now directly owns 183,125 shares of the company’s stock, valued at approximately $10,972,850. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Tamesa Rogers sold 5,000 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $69.40, for a total value of $347,000.00. Following the transaction, the senior vice president now directly owns 27,281 shares of the company’s stock, valued at $1,893,301.40. The disclosure for this sale can be found here. Insiders sold a total of 84,300 shares of company stock valued at $4,415,061 over the last three months. Corporate insiders own 6.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of NTGR. Victory Capital Management Inc. boosted its stake in NetGear by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,206 shares of the communications equipment provider’s stock valued at $138,000 after purchasing an additional 482 shares in the last quarter. Amalgamated Bank bought a new position in NetGear during the 3rd quarter valued at $207,000. M&T Bank Corp boosted its stake in NetGear by 31.5% during the 2nd quarter. M&T Bank Corp now owns 5,428 shares of the communications equipment provider’s stock valued at $234,000 after purchasing an additional 1,300 shares in the last quarter. K.J. Harrison & Partners Inc acquired a new stake in shares of NetGear during the 3rd quarter valued at $286,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of NetGear during the 3rd quarter valued at $301,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

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NetGear Company Profile

NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.

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