NETGEAR, Inc. (NASDAQ:NTGR) – BWS Financial lowered their Q3 2017 EPS estimates for shares of NETGEAR in a research note issued on Monday. BWS Financial analyst H. Khorsand now expects that the communications equipment provider will earn $0.54 per share for the quarter, down from their prior estimate of $0.55. BWS Financial has a “Buy” rating and a $60.00 price objective on the stock.
A number of other brokerages have also recently commented on NTGR. Global Equities Research reaffirmed a “buy” rating and issued a $85.00 target price on shares of NETGEAR in a report on Tuesday, June 13th. Zacks Investment Research cut NETGEAR from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. NETGEAR presently has a consensus rating of “Buy” and a consensus price target of $62.13.
Shares of NETGEAR (NASDAQ NTGR) opened at 52.20 on Wednesday. The firm has a 50 day moving average price of $48.06 and a 200 day moving average price of $46.43. NETGEAR has a 52 week low of $41.50 and a 52 week high of $59.92. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 23.96 and a beta of 1.53.
NETGEAR (NASDAQ:NTGR) last issued its earnings results on Wednesday, July 26th. The communications equipment provider reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.06. The firm had revenue of $330.72 million for the quarter, compared to analyst estimates of $324.64 million. NETGEAR had a return on equity of 10.67% and a net margin of 5.42%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share.
A number of large investors have recently bought and sold shares of the business. Ardsley Advisory Partners bought a new stake in NETGEAR during the second quarter valued at about $517,000. Public Employees Retirement System of Ohio grew its position in shares of NETGEAR by 0.3% during the second quarter. Public Employees Retirement System of Ohio now owns 44,772 shares of the communications equipment provider’s stock valued at $1,930,000 after purchasing an additional 135 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of NETGEAR during the second quarter valued at about $302,000. State Street Corp grew its position in shares of NETGEAR by 1.8% during the second quarter. State Street Corp now owns 842,782 shares of the communications equipment provider’s stock valued at $36,319,000 after purchasing an additional 14,817 shares in the last quarter. Finally, Macquarie Group Ltd. grew its position in shares of NETGEAR by 35.0% during the second quarter. Macquarie Group Ltd. now owns 593,665 shares of the communications equipment provider’s stock valued at $25,587,000 after purchasing an additional 154,070 shares in the last quarter. 98.89% of the stock is currently owned by institutional investors and hedge funds.
In other NETGEAR news, SVP Tamesa Rogers sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $47.35, for a total transaction of $71,025.00. Following the sale, the senior vice president now directly owns 22,703 shares of the company’s stock, valued at $1,074,987.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Miller Joycelyn Carter sold 3,000 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $50.00, for a total value of $150,000.00. Following the sale, the director now directly owns 11,409 shares in the company, valued at $570,450. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,722 shares of company stock worth $4,055,927. Insiders own 6.20% of the company’s stock.
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.
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