The Netgear Inc. (NTGR) Upgraded at Vetr Inc.

The Netgear Inc. (NTGR) Upgraded at Vetr Inc.

Vetr upgraded shares of Netgear Inc. (NASDAQ:NTGR) from a buy rating to a strong-buy rating in a research report released on Tuesday morning. The brokerage currently has $60.73 price objective on the stock.

Other analysts have also issued reports about the company. BWS Financial raised their price objective on Netgear from $50.00 to $64.00 and gave the company a buy rating in a report on Thursday, July 28th. Zacks Investment Research raised Netgear from a hold rating to a strong-buy rating and set a $61.00 price objective on the stock in a report on Tuesday, August 2nd. Rosenblatt Securities lowered Netgear from a buy rating to a neutral rating and set a $47.50 price objective on the stock. in a report on Tuesday, July 12th. Citigroup Inc. lowered Netgear to a neutral rating and set a $47.50 price objective on the stock. in a report on Tuesday, July 12th. They noted that the move was a valuation call. Finally, Wunderlich raised their price objective on Netgear from $58.00 to $66.00 and gave the company a buy rating in a report on Thursday, September 8th. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $53.36.

Shares of Netgear (NASDAQ:NTGR) opened at 52.14 on Tuesday. Netgear has a one year low of $31.94 and a one year high of $60.82. The stock’s 50 day moving average price is $57.32 and its 200 day moving average price is $48.84. The stock has a market capitalization of $1.71 billion, a PE ratio of 24.80 and a beta of 1.92.

Netgear (NASDAQ:NTGR) last posted its earnings results on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.60 by $0.12. The firm had revenue of $311.66 million for the quarter, compared to analyst estimates of $298.87 million. Netgear had a return on equity of 12.06% and a net margin of 5.25%. Netgear’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $0.29 earnings per share. Equities research analysts predict that Netgear will post $2.96 EPS for the current fiscal year.

In related news, SVP Andrew Wonki Kim sold 665 shares of Netgear stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $55.48, for a total transaction of $36,894.20. Following the transaction, the senior vice president now owns 19,835 shares in the company, valued at $1,100,445.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Tamesa Rogers sold 650 shares of Netgear stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $52.25, for a total value of $33,962.50. Following the transaction, the senior vice president now owns 13,525 shares in the company, valued at approximately $706,681.25. The disclosure for this sale can be found here. 5.40% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the company. FMR LLC increased its position in shares of Netgear by 39.7% in the second quarter. FMR LLC now owns 2,866,848 shares of the company’s stock worth $136,290,000 after buying an additional 814,166 shares during the last quarter. Riverhead Capital Management LLC increased its position in shares of Netgear by 5,182.0% in the second quarter. Riverhead Capital Management LLC now owns 439,516 shares of the company’s stock worth $10,807,000 after buying an additional 431,195 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in shares of Netgear during the second quarter worth approximately $14,271,000. Rothschild Asset Management Inc. bought a new position in shares of Netgear during the second quarter worth approximately $13,343,000. Finally, Prudential Financial Inc. increased its position in shares of Netgear by 77.6% in the first quarter. Prudential Financial Inc. now owns 498,537 shares of the company’s stock worth $20,126,000 after buying an additional 217,800 shares during the last quarter. Hedge funds and other institutional investors own 99.48% of the company’s stock.

About Netgear

NETGEAR, Inc is a global networking company. The Company’s product line consists of devices, such as network attached storage, Internet protocol security cameras, and home automation devices and services. Its segments include retail, commercial and service provider. The retail business unit consists of home networking, home video security, storage and digital media products.

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