Brokerages Set NetGear, Inc. (NTGR) PT at $65.20

Shares of NetGear, Inc. (NASDAQ:NTGR) have been assigned a consensus recommendation of “Buy” from the six research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $65.20.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of NetGear from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Wednesday, January 10th. BidaskClub upgraded shares of NetGear from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 13th. Raymond James Financial upgraded shares of NetGear from a “market perform” rating to an “outperform” rating and set a $62.00 target price for the company in a research note on Monday, December 18th. Finally, BWS Financial set a $75.00 target price on shares of NetGear and gave the company a “buy” rating in a research note on Friday, January 12th.

In related news, CEO Patrick Cs Lo sold 13,999 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $59.92, for a total value of $838,820.08. Following the completion of the transaction, the chief executive officer now owns 183,125 shares in the company, valued at approximately $10,972,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael F. Falcon sold 521 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $50.30, for a total transaction of $26,206.30. Following the completion of the transaction, the senior vice president now owns 34,612 shares of the company’s stock, valued at approximately $1,740,983.60. The disclosure for this sale can be found here. Insiders sold a total of 70,338 shares of company stock valued at $4,138,633 in the last 90 days. 6.20% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of NTGR. Northern Trust Corp raised its position in 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 purchasing an additional 274,952 shares during the last quarter. Bank of New York Mellon Corp raised its position in NetGear by 11.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,917,611 shares of the communications equipment provider’s stock worth $91,278,000 after purchasing an additional 196,863 shares during the last quarter. Majedie Asset Management Ltd bought a new position in NetGear in the 4th quarter worth approximately $10,593,000. First Trust Advisors LP raised its position in NetGear by 12.2% in the 4th quarter. First Trust Advisors LP now owns 1,167,474 shares of the communications equipment provider’s stock worth $68,589,000 after purchasing an additional 127,046 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in NetGear by 1,300.5% in the 4th quarter. Acadian Asset Management LLC now owns 112,696 shares of the communications equipment provider’s stock worth $6,621,000 after purchasing an additional 104,649 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Shares of NetGear (NASDAQ:NTGR) traded up $3.05 on Friday, reaching $58.85. 842,400 shares of the company’s stock were exchanged, compared to its average volume of 635,838. The company has a market capitalization of $1,840.00, a PE ratio of 110.47 and a beta of 1.79. NetGear has a 1 year low of $41.50 and a 1 year high of $71.42.

NetGear (NASDAQ:NTGR) last posted its earnings results on Tuesday, February 6th. The communications equipment provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. NetGear had a net margin of 1.38% and a return on equity of 9.92%. The company had revenue of $397.06 million during the quarter, compared to analysts’ expectations of $393.27 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. NetGear’s quarterly revenue was up 11.7% compared to the same quarter last year. research analysts predict that NetGear will post 2.71 earnings per share for the current year.

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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.

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