NETGEAR (NASDAQ:NTGR) announced its quarterly earnings results on Tuesday. The communications equipment provider reported $0.66 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.05), MarketWatch Earnings reports. The firm had revenue of $308.81 million for the quarter, compared to analysts’ expectations of $314.83 million. NETGEAR had a net margin of 6.36% and a return on equity of 12.82%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.54 EPS.
NTGR traded down $4.25 on Thursday, hitting $32.81. The company had a trading volume of 35,680 shares, compared to its average volume of 234,505. The company has a fifty day simple moving average of $38.42. NETGEAR has a 12-month low of $27.17 and a 12-month high of $46.38. The stock has a market cap of $999.72 million, a PE ratio of 11.99 and a beta of 0.81.
In other NETGEAR news, insider Mark G. Merrill sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, June 15th. The stock was sold at an average price of $40.84, for a total value of $224,620.00. Following the completion of the sale, the insider now owns 48,283 shares of the company’s stock, valued at $1,971,877.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Michael A. Werdann sold 3,081 shares of the firm’s stock in a transaction dated Tuesday, May 4th. The stock was sold at an average price of $36.78, for a total value of $113,319.18. Following the completion of the sale, the senior vice president now directly owns 34,175 shares of the company’s stock, valued at approximately $1,256,956.50. The disclosure for this sale can be found here. Insiders sold 59,101 shares of company stock worth $2,235,006 in the last quarter. 4.70% of the stock is owned by insiders.
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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