NETGEAR, Inc. (NTGR) Rating Increased to Buy at BWS Financial

NETGEAR, Inc. (NASDAQ:NTGR) was upgraded by research analysts at BWS Financial from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The brokerage presently has a $60.00 price target on the communications equipment provider’s stock. BWS Financial’s target price would suggest a potential upside of 14.94% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of NETGEAR from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Global Equities Research reaffirmed a “buy” rating and issued a $85.00 price target on shares of NETGEAR in a research report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $62.13.

NETGEAR (NASDAQ:NTGR) opened at 52.20 on Monday. The company has a market capitalization of $1.65 billion, a P/E ratio of 23.96 and a beta of 1.53. The company has a 50-day moving average of $48.06 and a 200-day moving average of $46.43. NETGEAR has a 1-year low of $41.50 and a 1-year high of $59.92.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, July 26th. The communications equipment provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.06. The company had revenue of $330.72 million during the quarter, compared to analysts’ expectations of $324.64 million. NETGEAR had a net margin of 5.42% and a return on equity of 10.67%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 EPS. Equities analysts expect that NETGEAR will post $2.74 EPS for the current fiscal year.

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In other news, SVP Michael A. Werdann sold 750 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $45.35, for a total value of $34,012.50. Following the completion of the sale, the senior vice president now owns 26,625 shares of the company’s stock, valued at approximately $1,207,443.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David John Henry sold 4,694 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $50.00, for a total transaction of $234,700.00. Following the completion of the sale, the senior vice president now directly owns 34,651 shares of the company’s stock, valued at approximately $1,732,550. The disclosure for this sale can be found here. Insiders sold a total of 84,722 shares of company stock valued at $4,055,927 in the last ninety days. Corporate insiders own 6.20% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of NTGR. State Board of Administration of Florida Retirement System raised its stake in shares of NETGEAR by 0.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 20,631 shares of the communications equipment provider’s stock worth $1,022,000 after acquiring an additional 57 shares in the last quarter. US Bancorp DE raised its stake in shares of NETGEAR by 9.2% during the 1st quarter. US Bancorp DE now owns 3,243 shares of the communications equipment provider’s stock worth $161,000 after acquiring an additional 272 shares in the last quarter. Comerica Bank raised its stake in shares of NETGEAR by 3.8% during the 1st quarter. Comerica Bank now owns 36,572 shares of the communications equipment provider’s stock worth $1,697,000 after acquiring an additional 1,328 shares in the last quarter. Swiss National Bank raised its stake in shares of NETGEAR by 1.9% during the 1st quarter. Swiss National Bank now owns 54,400 shares of the communications equipment provider’s stock worth $2,696,000 after acquiring an additional 1,000 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of NETGEAR by 16.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 15,112 shares of the communications equipment provider’s stock worth $749,000 after acquiring an additional 2,132 shares in the last quarter. Hedge funds and other institutional investors own 98.89% of the company’s stock.

About NETGEAR

NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.

Analyst Recommendations for NETGEAR (NASDAQ:NTGR)

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