NETGEAR, Inc. (NASDAQ:NTGR – Get Rating) SVP Vikram Mehta sold 1,850 shares of the company's stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $19.32, for a total transaction of $35,742.00. Following the completion of the transaction, the senior vice president now owns 42,970 shares of the company's stock, valued at approximately $830,180.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
NETGEAR Stock Up 1.1 %
Shares of NASDAQ:NTGR opened at $19.54 on Friday. The company has a 50 day moving average of $19.51 and a 200-day moving average of $21.01. NETGEAR, Inc. has a twelve month low of $17.40 and a twelve month high of $28.19.
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NETGEAR (NASDAQ:NTGR – Get Rating) last released its earnings results on Wednesday, February 1st. The communications equipment provider reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.05. NETGEAR had a negative net margin of 7.40% and a negative return on equity of 11.05%. The business had revenue of $249.10 million during the quarter, compared to analyst estimates of $243.52 million. During the same period in the prior year, the business earned ($0.03) earnings per share. The business's quarterly revenue was down .8% on a year-over-year basis. On average, analysts expect that NETGEAR, Inc. will post 0.22 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on NTGR shares. StockNews.com started coverage on shares of NETGEAR in a research note on Wednesday, October 12th. They issued a "hold" rating for the company. Raymond James reduced their price target on shares of NETGEAR from $25.00 to $23.00 and set an "outperform" rating for the company in a research note on Thursday, October 27th.
Institutional Trading of NETGEAR
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in NETGEAR by 3.0% during the first quarter. BlackRock Inc. now owns 5,588,137 shares of the communications equipment provider's stock valued at $137,917,000 after purchasing an additional 165,385 shares during the last quarter. Vanguard Group Inc. lifted its stake in NETGEAR by 3.9% during 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 purchasing an additional 122,759 shares during the last quarter. Victory Capital Management Inc. lifted its stake in NETGEAR by 0.4% during the second quarter. Victory Capital Management Inc. now owns 2,890,543 shares of the communications equipment provider's stock valued at $53,533,000 after purchasing an additional 12,592 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of NETGEAR by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,848,617 shares of the communications equipment provider's stock valued at $37,047,000 after acquiring an additional 8,187 shares in the last quarter. Finally, State Street Corp lifted its position in shares of NETGEAR by 5.4% in the 1st quarter. State Street Corp now owns 1,218,467 shares of the communications equipment provider's stock valued at $30,072,000 after acquiring an additional 62,383 shares in the last quarter. 85.22% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading
- Get a free copy of the StockNews.com research report on NETGEAR (NTGR)
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