NetGear, Inc. (NASDAQ:NTGR) Receives $49.80 Consensus Price Target from Analysts

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Shares of NetGear, Inc. (NASDAQ:NTGR) have received a consensus rating of “Hold” from the seven analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $49.80.

A number of analysts have recently issued reports on NTGR shares. ValuEngine upgraded NetGear from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Deutsche Bank initiated coverage on NetGear in a report on Friday, June 28th. They issued a “hold” rating and a $28.00 price target for the company. BidaskClub upgraded NetGear from a “strong sell” rating to a “sell” rating in a report on Friday, July 26th. Finally, Guggenheim initiated coverage on NetGear in a report on Wednesday, June 19th. They issued a “buy” rating and a $40.00 price target for the company.

In other news, SVP Tamesa Rogers sold 1,987 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $33.77, for a total transaction of $67,100.99. Following the completion of the transaction, the senior vice president now directly owns 44,617 shares in the company, valued at approximately $1,506,716.09. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Michael A. Werdann sold 2,234 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $26.03, for a total value of $58,151.02. Following the transaction, the senior vice president now owns 15,547 shares of the company’s stock, valued at $404,688.41. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,541 shares of company stock valued at $1,915,158. 5.10% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Maverick Capital Ltd. acquired a new stake in NetGear in the second quarter worth $433,000. Platinum Investment Management Ltd. acquired a new stake in NetGear in the second quarter worth $180,000. Royal Bank of Canada acquired a new stake in NetGear in the second quarter worth $109,000. Ladenburg Thalmann Financial Services Inc. acquired a new stake in NetGear in the second quarter worth $31,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in NetGear in the second quarter worth $365,000. Institutional investors own 99.19% of the company’s stock.

Shares of NASDAQ:NTGR traded up $0.31 during trading on Thursday, reaching $33.28. 200,500 shares of the stock were exchanged, compared to its average volume of 390,777. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.57 and a current ratio of 2.45. NetGear has a 12-month low of $24.63 and a 12-month high of $75.25. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 21.27 and a beta of 1.72. The firm’s 50-day moving average price is $29.45 and its 200 day moving average price is $31.31.

NetGear (NASDAQ:NTGR) last issued its earnings results on Wednesday, July 24th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.14). NetGear had a return on equity of 7.26% and a net margin of 0.91%. The firm had revenue of $230.85 million for the quarter, compared to analysts’ expectations of $224.35 million. During the same quarter in the previous year, the firm posted $0.29 EPS. The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. As a group, equities research analysts forecast that NetGear will post 1.62 EPS for the current year.

About NetGear

NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. It operates in two segments, Connected Home, and Small and Medium Business. The company offers smart home/connected home/broadband access products, such as broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, WiFi network adapters, and digital canvasses; and value added service offerings, including technical support, parental controls, and cybersecurity protection.

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