NETGEAR (NASDAQ:NTGR) Stock Price Down 6.1% – What’s Next?

NETGEAR, Inc. (NASDAQ:NTGRGet Free Report)’s share price fell 6.1% during trading on Wednesday . The stock traded as low as $22.80 and last traded at $22.8640. 230,590 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 499,268 shares. The stock had previously closed at $24.34.

Analyst Ratings Changes

NTGR has been the topic of several recent analyst reports. Wall Street Zen upgraded NETGEAR from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a report on Friday, March 27th. Finally, Zacks Research upgraded shares of NETGEAR from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $36.00.

Read Our Latest Analysis on NETGEAR

NETGEAR Price Performance

The firm has a market cap of $611.15 million, a PE ratio of -25.88 and a beta of 1.17. The business’s fifty day moving average is $25.30 and its 200-day moving average is $23.58.

NETGEAR (NASDAQ:NTGRGet Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.14. NETGEAR had a negative return on equity of 2.71% and a negative net margin of 3.58%.The company had revenue of $158.82 million during the quarter, compared to the consensus estimate of $152.49 million. During the same quarter in the prior year, the company earned $0.02 EPS. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. Analysts forecast that NETGEAR, Inc. will post -0.5 EPS for the current year.

Insider Buying and Selling at NETGEAR

In related news, Director Shravan Goli sold 3,381 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $26.89, for a total transaction of $90,915.09. Following the sale, the director directly owned 25,857 shares in the company, valued at approximately $695,294.73. This represents a 11.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Laura Durr sold 1,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $26.76, for a total value of $26,760.00. Following the completion of the transaction, the director directly owned 42,059 shares of the company’s stock, valued at $1,125,498.84. The trade was a 2.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 12,085 shares of company stock worth $318,703. 3.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NETGEAR

Several hedge funds have recently bought and sold shares of the company. Johnson Financial Group Inc. bought a new stake in NETGEAR during the 4th quarter worth approximately $25,000. Comerica Bank boosted its holdings in NETGEAR by 64.8% in the 3rd quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock valued at $35,000 after purchasing an additional 429 shares during the period. IFP Advisors Inc grew its position in shares of NETGEAR by 161.7% during the 4th quarter. IFP Advisors Inc now owns 2,243 shares of the communications equipment provider’s stock valued at $55,000 after purchasing an additional 1,386 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of NETGEAR by 6,085.7% in the first quarter. Fifth Third Bancorp now owns 3,031 shares of the communications equipment provider’s stock worth $66,000 after purchasing an additional 2,982 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in shares of NETGEAR by 44.7% in 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 during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

About NETGEAR

(Get Free Report)

NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.

Further Reading

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