NETGEAR, Inc. (NASDAQ:NTGR) Insider Sells $34,215.61 in Stock

NETGEAR, Inc. (NASDAQ:NTGR) insider Michael F. Falcon sold 781 shares of the stock in a transaction dated Monday, February 22nd. The stock was sold at an average price of $43.81, for a total value of $34,215.61. Following the completion of the sale, the insider now directly owns 64,310 shares of the company’s stock, valued at $2,817,421.10. The sale was disclosed in a filing with the SEC, which is available at this link.

Shares of NASDAQ NTGR traded down $0.98 during mid-day trading on Tuesday, reaching $41.56. 15,398 shares of the company traded hands, compared to its average volume of 486,755. The stock has a market cap of $1.27 billion, a PE ratio of 45.71 and a beta of 0.88. The company’s fifty day moving average is $40.99 and its two-hundred day moving average is $35.21. NETGEAR, Inc. has a fifty-two week low of $15.01 and a fifty-two week high of $46.38.

NETGEAR (NASDAQ:NTGR) last released its earnings results on Wednesday, February 3rd. The communications equipment provider reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.15. The firm had revenue of $367.07 million for the quarter, compared to analyst estimates of $346.29 million. NETGEAR had a return on equity of 4.38% and a net margin of 2.36%. The company’s revenue was up 45.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 EPS. As a group, sell-side analysts predict that NETGEAR, Inc. will post 1.58 earnings per share for the current year.

Several brokerages recently issued reports on NTGR. BWS Financial increased their price objective on NETGEAR from $45.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, February 4th. Zacks Investment Research raised NETGEAR from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Tuesday, October 27th. Deutsche Bank Aktiengesellschaft upped their target price on NETGEAR from $40.00 to $44.00 and gave the stock a “hold” rating in a research report on Thursday, February 4th. Finally, Raymond James upped their target price on NETGEAR from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, February 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. NETGEAR has an average rating of “Buy” and an average price target of $46.00.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Truist Financial Corp grew its holdings in NETGEAR by 14.4% in the 4th quarter. Truist Financial Corp now owns 24,344 shares of the communications equipment provider’s stock valued at $989,000 after buying an additional 3,059 shares during the last quarter. SummerHaven Investment Management LLC bought a new stake in shares of NETGEAR in the 4th quarter worth approximately $706,000. Squarepoint Ops LLC lifted its position in shares of NETGEAR by 184.5% in the 4th quarter. Squarepoint Ops LLC now owns 18,834 shares of the communications equipment provider’s stock worth $765,000 after acquiring an additional 12,214 shares during the period. Morgan Stanley lifted its position in shares of NETGEAR by 11.0% in the 4th quarter. Morgan Stanley now owns 113,379 shares of the communications equipment provider’s stock worth $4,606,000 after acquiring an additional 11,209 shares during the period. Finally, Paloma Partners Management Co bought a new position in shares of NETGEAR during the 4th quarter worth approximately $240,000. 94.37% of the stock is currently owned by hedge funds and other institutional investors.

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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