NetGear (NASDAQ:NTGR) Downgraded by BidaskClub to “Hold”

BidaskClub lowered shares of NetGear (NASDAQ:NTGR) from a buy rating to a hold rating in a report released on Wednesday, BidAskClub reports.

Several other brokerages also recently commented on NTGR. ValuEngine downgraded NetGear from a buy rating to a hold rating in a research report on Saturday, July 18th. BWS Financial boosted their target price on shares of NetGear from $33.00 to $45.00 and gave the stock a buy rating in a research report on Thursday, July 23rd. Deutsche Bank increased their price target on shares of NetGear from $25.00 to $32.00 and gave the company a hold rating in a report on Thursday, July 23rd. Finally, Raymond James boosted their price objective on shares of NetGear from $30.00 to $35.00 and gave the stock an outperform rating in a report on Thursday, July 23rd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $39.00.

Shares of NTGR opened at $30.75 on Wednesday. The company has a market capitalization of $904.67 million, a PE ratio of 69.89 and a beta of 1.08. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.66 and a quick ratio of 2.11. NetGear has a one year low of $15.01 and a one year high of $36.87. The company’s fifty day moving average price is $25.96 and its 200 day moving average price is $23.87.

NetGear (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, July 22nd. The communications equipment provider reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.32. NetGear had a return on equity of 2.29% and a net margin of 1.35%. The company had revenue of $280.05 million for the quarter, compared to the consensus estimate of $239.56 million. Analysts anticipate that NetGear will post 0.73 earnings per share for the current year.

In other NetGear news, SVP Tamesa Rogers sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $25.70, for a total transaction of $77,100.00. Following the completion of the transaction, the senior vice president now owns 51,973 shares in the company, valued at $1,335,706.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gregory J. Rossman sold 3,554 shares of NetGear stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $25.65, for a total value of $91,160.10. Following the sale, the director now directly owns 43,249 shares in the company, valued at $1,109,336.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,776 shares of company stock valued at $3,602,146. 5.40% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of NTGR. Golden State Wealth Management LLC bought a new stake in NetGear in the first quarter valued at $64,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of NetGear by 47.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,712 shares of the communications equipment provider’s stock worth $70,000 after purchasing an additional 873 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of NetGear by 12,500.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 3,780 shares of the communications equipment provider’s stock worth $87,000 after purchasing an additional 3,750 shares in the last quarter. Marshall Wace LLP bought a new position in NetGear during the 4th quarter valued at about $106,000. Finally, Public Employees Retirement Association of Colorado boosted its position in NetGear by 212.0% in the first quarter. Public Employees Retirement Association of Colorado now owns 4,814 shares of the communications equipment provider’s stock valued at $110,000 after buying an additional 3,271 shares in the last quarter. Institutional investors and hedge funds own 99.64% of the company’s stock.

About NetGear

NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. It operates in two segments, Connected Home, and Small and Medium Business. The company offers smart home/connected home/broadband access products, such as broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, WiFi network adapters, and digital canvasses; and value added service offerings, including technical support, parental controls, and cybersecurity protection.

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