NETGEAR, Inc. (NASDAQ:NTGR) Receives $37.33 Consensus Price Target from Brokerages

NETGEAR, Inc. (NASDAQ:NTGR) has been given a consensus rating of “Moderate Buy” by the five research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $37.3333.

Several research firms recently weighed in on NTGR. Zacks Research downgraded NETGEAR from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings reissued a “sell (d+)” rating on shares of NETGEAR in a research report on Thursday, November 13th. Seaport Res Ptn raised shares of NETGEAR to a “strong-buy” rating in a research report on Wednesday, October 1st. UBS Group set a $35.00 price target on shares of NETGEAR in a research note on Thursday, August 21st. Finally, Stifel Nicolaus boosted their price objective on shares of NETGEAR from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, October 17th.

Insider Transactions at NETGEAR

In other news, VP Graeme Mclindin sold 1,205 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $34.26, for a total value of $41,283.30. Following the transaction, the vice president directly owned 30,808 shares in the company, valued at $1,055,482.08. This trade represents a 3.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bradley Maiorino sold 13,063 shares of NETGEAR stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $35.26, for a total value of $460,601.38. Following the completion of the transaction, the director directly owned 56,356 shares in the company, valued at $1,987,112.56. This represents a 18.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 20,315 shares of company stock valued at $661,592. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On NETGEAR

A number of hedge funds have recently made changes to their positions in NTGR. Comerica Bank lifted its holdings in shares of NETGEAR by 64.8% during the 3rd quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock valued at $35,000 after acquiring an additional 429 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in NETGEAR in the second quarter valued at about $58,000. Rexford Capital Inc. purchased a new position in NETGEAR in the second quarter valued at about $58,000. Jones Financial Companies Lllp lifted its stake in shares of NETGEAR by 44.7% during the third quarter. Jones Financial Companies Lllp now owns 2,323 shares of the communications equipment provider’s stock worth $75,000 after purchasing an additional 718 shares in the last quarter. Finally, CWM LLC boosted its position in shares of NETGEAR by 35.4% in the first quarter. CWM LLC now owns 2,916 shares of the communications equipment provider’s stock worth $71,000 after buying an additional 763 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

NETGEAR Stock Up 1.6%

Shares of NETGEAR stock opened at $25.38 on Friday. NETGEAR has a fifty-two week low of $18.75 and a fifty-two week high of $36.86. The firm has a market cap of $720.87 million, a PE ratio of -27.89 and a beta of 1.11. The business’s fifty day moving average is $30.72 and its two-hundred day moving average is $28.84.

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.