NETGEAR, Inc. (NASDAQ:NTGR – Get Rating) SVP Vikram Mehta sold 1,850 shares of NETGEAR stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $19.32, for a total value of $35,742.00. Following the sale, the senior vice president now directly owns 42,970 shares in the company, valued at $830,180.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
NETGEAR Stock Performance
Shares of NTGR opened at $19.54 on Friday. NETGEAR, Inc. has a 12 month low of $17.40 and a 12 month high of $28.19. The company has a 50-day moving average price of $19.51 and a two-hundred day moving average price of $21.00.
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NETGEAR (NASDAQ:NTGR – Get Rating) last announced its quarterly earnings results on Wednesday, February 1st. The communications equipment provider reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.05. The firm had revenue of $249.10 million during the quarter, compared to analysts' expectations of $243.52 million. NETGEAR had a negative net margin of 7.40% and a negative return on equity of 11.05%. The company's revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.03) earnings per share. Analysts expect that NETGEAR, Inc. will post 0.22 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of NETGEAR by 3.0% in the first quarter. BlackRock Inc. now owns 5,588,137 shares of the communications equipment provider's stock valued at $137,917,000 after acquiring an additional 165,385 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of NETGEAR by 3.9% in the third quarter. Vanguard Group Inc. now owns 3,300,485 shares of the communications equipment provider's stock valued at $66,142,000 after acquiring an additional 122,759 shares during the last quarter. JPMorgan Chase & Co. raised its position in NETGEAR by 79.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 238,752 shares of the communications equipment provider's stock worth $4,421,000 after purchasing an additional 105,426 shares during the last quarter. Dimensional Fund Advisors LP raised its position in NETGEAR by 4.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,670,410 shares of the communications equipment provider's stock worth $41,226,000 after purchasing an additional 73,225 shares during the last quarter. Finally, Two Sigma Advisers LP raised its position in NETGEAR by 258.5% in the 3rd quarter. Two Sigma Advisers LP now owns 96,800 shares of the communications equipment provider's stock worth $1,940,000 after purchasing an additional 69,800 shares during the last quarter. Institutional investors own 85.22% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the company. StockNews.com assumed coverage on NETGEAR in a research report on Wednesday, October 12th. They set a "hold" rating on the stock. Raymond James decreased their target price on NETGEAR from $25.00 to $23.00 and set an "outperform" rating on the stock in a research report on Thursday, October 27th.
About NETGEAR
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NETGEAR, Inc engages in the provision of Internet connected products to consumers, businesses, and service providers. It operates through the following segments: Connected Home, and Small & Medium Business. The Connected Home segment focuses on consumers and consists of high-performance, dependable and easy-to-use WiFi Internet networking solutions such as WiFi mesh systems, routers, 4G/5G mobile products, smart devices such as Meural digital canvasses, and services offering consumers a range of parental controls and cyber security for their home networks.
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