Key Points
- NETGEAR director Sarah Butterfass sold 2,704 shares on June 1 at an average price of $26.90, totaling about $72,738. The sale reduced her stake by 6.49% and was made under a pre-arranged Rule 10b5-1 plan.
- NETGEAR shares were down 3.9% around the time of the report, opening at $26.19. The stock has traded between $19.00 and $36.86 over the past year.
- The company recently beat quarterly earnings expectations, reporting $0.06 EPS versus an expected loss of $0.08 and revenue of $158.82 million, though sales were still down 2% year over year. Analysts currently rate the stock a consensus Hold with an average price target of $36.00.
NETGEAR, Inc. (NASDAQ:NTGR - Get Free Report) Director Laura Durr sold 1,000 shares of the business's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $26.76, for a total value of $26,760.00. Following the transaction, the director owned 42,059 shares in the company, valued at $1,125,498.84. This represents a 2.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Laura Durr also recently made the following trade(s):
- On Monday, June 1st, Laura Durr sold 2,000 shares of NETGEAR stock. The shares were sold at an average price of $25.94, for a total value of $51,880.00.
NETGEAR Stock Down 3.9%
Shares of NTGR opened at $26.19 on Thursday. NETGEAR, Inc. has a 12-month low of $19.00 and a 12-month high of $36.86. The firm has a market capitalization of $702.94 million, a price-to-earnings ratio of -29.76 and a beta of 1.17. The stock's 50-day moving average price is $24.95 and its 200 day moving average price is $23.63.
NETGEAR (NASDAQ:NTGR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $158.82 million for the quarter, compared to analyst estimates of $152.49 million. During the same period in the previous year, the company posted $0.02 earnings per share. The company's quarterly revenue was down 2.0% compared to the same quarter last year. Equities research analysts expect that NETGEAR, Inc. will post -0.5 EPS for the current year.
Analyst Ratings Changes
NTGR has been the topic of a number of recent research reports. Zacks Research raised NETGEAR from a "strong sell" rating to a "hold" rating in a report on Tuesday, March 10th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of NETGEAR in a report on Friday, March 27th. Wall Street Zen raised NETGEAR from a "sell" rating to a "hold" rating in a report on Saturday, March 28th. Finally, Stifel Nicolaus set a $36.00 price objective on NETGEAR in a report on Thursday, February 5th. Two investment 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. Based on data from MarketBeat.com, NETGEAR currently has an average rating of "Hold" and a consensus target price of $36.00.
Get Our Latest Report on NTGR
Institutional Investors Weigh In On NETGEAR
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in NETGEAR by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 2,543,240 shares of the communications equipment provider's stock worth $62,386,000 after acquiring an additional 74,457 shares during the last quarter. Brandes Investment Partners LP grew its position in NETGEAR by 10.8% during the 4th quarter. Brandes Investment Partners LP now owns 1,855,555 shares of the communications equipment provider's stock worth $45,517,000 after acquiring an additional 180,295 shares during the last quarter. Dimensional Fund Advisors LP grew its position in NETGEAR by 5.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,636,697 shares of the communications equipment provider's stock worth $53,010,000 after acquiring an additional 85,228 shares during the last quarter. Windward Management LP bought a new stake in NETGEAR during the 4th quarter worth approximately $35,468,000. Finally, Arrowstreet Capital Limited Partnership grew its position in NETGEAR by 17.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 808,805 shares of the communications equipment provider's stock worth $26,197,000 after acquiring an additional 117,824 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.
NETGEAR Company Profile
(
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.
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