NETGEAR (NASDAQ:NTGR) Releases Quarterly Earnings Results

NETGEAR (NASDAQ:NTGR) announced its earnings results on Tuesday. The communications equipment provider reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.05), MarketWatch Earnings reports. The company had revenue of $308.81 million during 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 company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 earnings per share.

NASDAQ:NTGR opened at $31.19 on Thursday. NETGEAR has a 52-week low of $27.17 and a 52-week high of $46.38. The stock’s fifty day moving average price is $38.42. The firm has a market cap of $950.36 million, a P/E ratio of 13.53 and a beta of 0.81.

NTGR has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their price target on NETGEAR from $44.00 to $34.00 and set a “hold” rating for the company in a report on Thursday. Raymond James reduced their price target on NETGEAR from $48.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Zacks Investment Research raised NETGEAR from a “strong sell” rating to a “hold” rating and set a $42.00 price target for the company in a report on Tuesday, June 22nd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $43.80.

In related news, insider Mark G. Merrill sold 5,500 shares of the stock in a transaction dated Tuesday, June 15th. The shares were sold at an average price of $40.84, for a total value of $224,620.00. Following the sale, the insider now directly owns 48,283 shares of the company’s stock, valued at approximately $1,971,877.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Andrew Wonki Kim sold 781 shares of the stock in a transaction dated Wednesday, May 19th. The shares were sold at an average price of $36.62, for a total transaction of $28,600.22. Following the completion of the sale, the senior vice president now directly owns 64,970 shares in the company, valued at $2,379,201.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,101 shares of company stock worth $2,235,006. 4.70% of the stock is owned by corporate insiders.

NETGEAR Company Profile

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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Earnings History for NETGEAR (NASDAQ:NTGR)

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