NETGEAR, Inc. (NASDAQ:NTGR) SVP Heidi Cormack Sells 5,301 Shares of Stock

NETGEAR, Inc. (NASDAQ:NTGR) SVP Heidi Cormack sold 5,301 shares of the business’s stock in a transaction on Tuesday, July 20th. The shares were sold at an average price of $36.83, for a total transaction of $195,235.83. The sale was disclosed in a legal filing with the SEC, which is available through this link.

NTGR opened at $37.06 on Thursday. The company has a 50-day moving average of $38.42. NETGEAR, Inc. has a 1 year low of $27.17 and a 1 year high of $46.38. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 13.44 and a beta of 0.81.

NETGEAR (NASDAQ:NTGR) last posted its earnings results on Wednesday, July 21st. The communications equipment provider reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.05). NETGEAR had a net margin of 6.36% and a return on equity of 12.82%. The company had revenue of $308.81 million during the quarter, compared to analysts’ expectations of $314.83 million. During the same quarter last year, the firm earned $0.54 EPS. NETGEAR’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, equities analysts anticipate that NETGEAR, Inc. will post 2.29 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Vantage Consulting Group Inc purchased a new position in NETGEAR in the fourth quarter valued at about $44,000. Quantbot Technologies LP grew its stake in shares of NETGEAR by 469.2% during the first quarter. Quantbot Technologies LP now owns 2,624 shares of the communications equipment provider’s stock worth $107,000 after acquiring an additional 2,163 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of NETGEAR by 523.2% during the first quarter. Captrust Financial Advisors now owns 2,929 shares of the communications equipment provider’s stock worth $120,000 after acquiring an additional 2,459 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of NETGEAR by 79.9% during the first quarter. Lazard Asset Management LLC now owns 3,370 shares of the communications equipment provider’s stock worth $138,000 after acquiring an additional 1,497 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of NETGEAR during the fourth quarter worth about $138,000. Institutional investors own 99.51% of the company’s stock.

A number of analysts recently issued reports on the company. Raymond James lowered their price target on NETGEAR from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Thursday, April 22nd. Zacks Investment Research upgraded NETGEAR from a “strong sell” rating to a “hold” rating and set a $42.00 price objective for the company in a report on Tuesday, June 22nd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. NETGEAR presently has a consensus rating of “Hold” and an average target price of $47.00.

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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