NetGear (NTGR) Upgraded by BidaskClub to “Buy”

BidaskClub upgraded shares of NetGear (NASDAQ:NTGR) from a hold rating to a buy rating in a research note released on Thursday.

Several other research analysts also recently commented on the company. Zacks Investment Research downgraded NetGear from a hold rating to a sell rating in a research note on Friday, October 13th. BWS Financial raised NetGear from a hold rating to a buy rating and set a $60.00 price target on the stock in a report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $62.75.

NetGear (NASDAQ NTGR) traded up $0.05 during mid-day trading on Thursday, hitting $54.05. The stock had a trading volume of 602,100 shares, compared to its average volume of 402,885. The company has a market cap of $1,699.38, a P/E ratio of 21.69 and a beta of 1.52. NetGear has a 12 month low of $41.50 and a 12 month high of $58.50.

NetGear (NASDAQ:NTGR) last issued its earnings results on Wednesday, October 25th. The communications equipment provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.68 by $0.13. NetGear had a return on equity of 10.57% and a net margin of 5.33%. The business had revenue of $355.48 million during the quarter, compared to the consensus estimate of $349.36 million. During the same quarter last year, the company earned $0.76 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. sell-side analysts predict that NetGear will post 2.24 EPS for the current fiscal year.

In related news, Chairman Patrick Cs Lo sold 19,799 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $47.63, for a total transaction of $943,026.37. Following the transaction, the chairman now directly owns 183,125 shares of the company’s stock, valued at approximately $8,722,243.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael F. Falcon sold 14,912 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $49.94, for a total value of $744,705.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,888 shares of company stock worth $4,866,581. 6.20% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of NTGR. Royce & Associates LP grew its position in shares of NetGear by 43,220.6% in the 2nd quarter. Royce & Associates LP now owns 779,771 shares of the communications equipment provider’s stock worth $33,608,000 after buying an additional 777,971 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of NetGear by 33.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,720,748 shares of the communications equipment provider’s stock worth $74,165,000 after buying an additional 429,429 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of NetGear by 28.2% in the 2nd quarter. Alliancebernstein L.P. now owns 1,417,760 shares of the communications equipment provider’s stock worth $61,105,000 after buying an additional 311,735 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in shares of NetGear in the 2nd quarter worth approximately $12,722,000. Finally, Northern Trust Corp grew its position in shares of NetGear by 55.1% in the 2nd quarter. Northern Trust Corp now owns 773,995 shares of the communications equipment provider’s stock worth $33,359,000 after buying an additional 274,952 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

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NetGear Company Profile

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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