Analysts Set NETGEAR, Inc. (NASDAQ:NTGR) Price Target at $38.20

NETGEAR, Inc. (NASDAQ:NTGR) has been assigned a consensus recommendation of “Hold” from the six brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $38.20.

Several research analysts have recently weighed in on the stock. BWS Financial dropped their price target on shares of NETGEAR from $54.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, July 22nd. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft dropped their price target on shares of NETGEAR from $44.00 to $34.00 and set a “hold” rating on the stock in a research note on Thursday, July 22nd. Zacks Investment Research cut shares of NETGEAR from a “hold” rating to a “strong sell” rating and set a $29.00 price target on the stock. in a research note on Tuesday, July 27th. Finally, Raymond James dropped their price target on shares of NETGEAR from $48.00 to $42.00 and set an “outperform” rating on the stock in a research note on Thursday, July 22nd.

In other NETGEAR news, SVP Andrew Wonki Kim sold 781 shares of NETGEAR stock in a transaction on Monday, June 21st. The shares were sold at an average price of $38.32, for a total value of $29,927.92. Following the sale, the senior vice president now directly owns 64,970 shares in the company, valued at approximately $2,489,650.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Patrick Cs Lo sold 26,075 shares of NETGEAR stock in a transaction on Thursday, July 1st. The shares were sold at an average price of $37.65, for a total transaction of $981,723.75. Following the completion of the sale, the chief executive officer now owns 88,415 shares in the company, valued at $3,328,824.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,467 shares of company stock worth $3,874,081. 4.70% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Clearstead Advisors LLC increased its holdings in NETGEAR by 202.2% in the 2nd quarter. Clearstead Advisors LLC now owns 695 shares of the communications equipment provider’s stock valued at $27,000 after acquiring an additional 465 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of NETGEAR by 187.3% in the 2nd quarter. Royal Bank of Canada now owns 839 shares of the communications equipment provider’s stock worth $32,000 after buying an additional 547 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of NETGEAR in the 2nd quarter worth about $50,000. Dark Forest Capital Management LP bought a new stake in shares of NETGEAR in the 2nd quarter worth about $59,000. Finally, William Blair Investment Management LLC bought a new stake in shares of NETGEAR in the 2nd quarter worth about $94,000.

NTGR stock traded down $0.47 on Friday, hitting $31.69. The company had a trading volume of 638,919 shares, compared to its average volume of 355,683. NETGEAR has a 12-month low of $27.17 and a 12-month high of $46.38. The stock’s 50-day simple moving average is $34.77 and its 200 day simple moving average is $37.74. The stock has a market cap of $967.94 million, a price-to-earnings ratio of 10.19 and a beta of 0.80.

NETGEAR (NASDAQ:NTGR) last issued its earnings results on Tuesday, July 20th. The communications equipment provider reported $0.66 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.05). NETGEAR had a return on equity of 13.98% and a net margin of 7.09%. The company had revenue of $308.81 million during the quarter, compared to analysts’ expectations of $314.83 million. During the same quarter in the prior year, the business posted $0.54 EPS. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. Analysts anticipate that NETGEAR will post 2.06 earnings per share for the current year.

NETGEAR Company Profile

NETGEAR, Inc engages in the provision of Internet connected products to consumers, businesses, and service providers. It operates through the following segments: Connected Home, and Small & Medium Business. The Connected Home segment focuses on consumers and consists of high-performance, dependable and easy-to-use WiFi Internet networking solutions such as WiFi mesh systems, routers, 4G/5G mobile products, smart devices such as Meural digital canvasses, and services offering consumers a range of parental controls and cyber security for their home networks.

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