NETGEAR (NASDAQ:NTGR) Shares Up 9.3% – Here’s Why

NETGEAR, Inc. (NASDAQ:NTGR)’s stock price rose 9.3% during mid-day trading on Friday . The stock traded as high as $24.21 and last traded at $24.53. Approximately 78,916 shares changed hands during trading, a decline of 76% from the average daily volume of 329,435 shares. The stock had previously closed at $22.43.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NTGR. StockNews.com downgraded NETGEAR from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Raymond James raised their target price on shares of NETGEAR from $22.00 to $29.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th.

NETGEAR Trading Up 10.4 %

The company has a market cap of $712.64 million, a PE ratio of 61.90 and a beta of 1.03. The business’s 50 day moving average is $23.69 and its two-hundred day moving average is $24.81.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings data on Wednesday, February 5th. The communications equipment provider reported ($0.24) EPS for the quarter, meeting the consensus estimate of ($0.24). NETGEAR had a negative return on equity of 9.24% and a net margin of 1.83%. As a group, equities research analysts predict that NETGEAR, Inc. will post -1.84 EPS for the current fiscal year.

Insider Buying and Selling at NETGEAR

In other news, CEO Charles J. Prober sold 10,929 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $26.64, for a total transaction of $291,148.56. Following the completion of the transaction, the chief executive officer now owns 507,763 shares in the company, valued at $13,526,806.32. This trade represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Murray Bryan sold 3,848 shares of NETGEAR stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $23.92, for a total value of $92,044.16. Following the completion of the sale, the chief financial officer now directly owns 193,032 shares in the company, valued at $4,617,325.44. This trade represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.

Institutional Trading of NETGEAR

Large investors have recently added to or reduced their stakes in the company. Barclays PLC grew its position in NETGEAR by 10.5% in the third quarter. Barclays PLC now owns 43,385 shares of the communications equipment provider’s stock worth $870,000 after acquiring an additional 4,125 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of NETGEAR by 5.3% in the 3rd quarter. Franklin Resources Inc. now owns 42,673 shares of the communications equipment provider’s stock worth $883,000 after acquiring an additional 2,166 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of NETGEAR during the 4th quarter worth about $375,000. Inspire Investing LLC purchased a new position in shares of NETGEAR during the 4th quarter worth about $852,000. Finally, R Squared Ltd bought a new position in NETGEAR during the 4th quarter valued at about $72,000. Institutional investors own 82.97% of the company’s stock.

About NETGEAR

NETGEAR, Inc provides connectivity solutions the Americas; Europe, the Middle East, Africa; and the Asia Pacific. The company operates in two segments, Connected Home, and NETGEAR for Business. The Connected Home segment offers Wi-Fi routers and home Wi-Fi mesh systems, Wi-Fi hotspots, digital displays, broadband modems, Wi-Fi gateways, Wi-Fi range extenders, powerline adapters, and Wi-Fi network adapters; and provides value-added service offerings, including security and privacy, technical support, and parental controls.