Trading Report: The Netgear Inc. (NTGR) Stock Rating Upgraded by Vetr Inc.

The Netgear Inc. (NTGR) Stock Rating Upgraded by Vetr Inc.

Netgear Inc. (NASDAQ:NTGR) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $60.73 price target on the stock. Vetr‘s price target points to a potential upside of 9.96% from the stock’s previous close.

A number of other analysts have also weighed in on the company. BWS Financial lowered Netgear from a “buy” rating to a “hold” rating and reduced their target price for the stock from $64.00 to $60.00 in a research note on Monday, October 3rd. Rosenblatt Securities reissued a “neutral” rating and set a $61.00 price target (up previously from $55.00) on shares of Netgear in a research report on Wednesday, September 28th. Zacks Investment Research downgraded Netgear from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Wunderlich increased their price target on Netgear from $58.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, September 8th. Finally, Citigroup Inc. downgraded Netgear to a “neutral” rating and set a $47.50 price target on the stock. in a research report on Tuesday, July 12th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $53.36.

Netgear (NASDAQ:NTGR) traded down 1.25% during trading on Tuesday, hitting $55.23. The stock had a trading volume of 318,140 shares. Netgear has a 52-week low of $31.65 and a 52-week high of $60.82. The stock has a market capitalization of $1.81 billion, a PE ratio of 26.27 and a beta of 1.92. The stock’s 50-day moving average is $57.63 and its 200-day moving average is $48.50.

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

In other Netgear news, SVP Michael A. Werdann sold 1,348 shares of the firm’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $49.54, for a total value of $66,779.92. Following the completion of the sale, the senior vice president now owns 24,750 shares of the company’s stock, valued at $1,226,115. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Michael F. Falcon sold 521 shares of the firm’s stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $49.75, for a total value of $25,919.75. Following the completion of the sale, the senior vice president now directly owns 35,870 shares of the company’s stock, valued at approximately $1,784,532.50. The disclosure for this sale can be found here. Corporate insiders own 5.40% of the company’s stock.

A number of large investors have recently modified their holdings of NTGR. Hancock Holding Co. acquired a new stake in shares of Netgear during the first quarter valued at $343,000. Goldman Sachs Group Inc. increased its stake in shares of Netgear by 16.9% in the first quarter. Goldman Sachs Group Inc. now owns 225,889 shares of the company’s stock valued at $9,119,000 after buying an additional 32,668 shares in the last quarter. UBS Group AG increased its stake in shares of Netgear by 82.7% in the first quarter. UBS Group AG now owns 36,320 shares of the company’s stock valued at $1,466,000 after buying an additional 16,443 shares in the last quarter. Landscape Capital Management L.L.C. increased its stake in shares of Netgear by 89.4% in the first quarter. Landscape Capital Management L.L.C. now owns 23,300 shares of the company’s stock valued at $941,000 after buying an additional 11,000 shares in the last quarter. Finally, Acrospire Investment Management LLC acquired a new stake in shares of Netgear during the first quarter valued at $174,000. 99.48% of the stock is owned by institutional investors and hedge funds.

Netgear Company Profile

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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