NETGEAR (NASDAQ:NTGR) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of NETGEAR (NASDAQ:NTGR) from a buy rating to a hold rating in a research note published on Tuesday morning.

NETGEAR Trading Up 0.8 %

Shares of NASDAQ NTGR opened at $20.70 on Tuesday. NETGEAR has a 1 year low of $10.40 and a 1 year high of $22.62. The firm’s 50-day moving average is $16.31 and its 200-day moving average is $14.98. The firm has a market capitalization of $602.37 million, a PE ratio of -5.38 and a beta of 0.82.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings data on Wednesday, July 31st. The communications equipment provider reported ($0.94) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.94). The firm had revenue of $143.90 million for the quarter, compared to analysts’ expectations of $132.69 million. NETGEAR had a negative net margin of 21.62% and a negative return on equity of 7.52%. As a group, equities research analysts anticipate that NETGEAR will post -2.29 earnings per share for the current fiscal year.

Insider Buying and Selling at NETGEAR

In other news, Director Thomas H. Waechter sold 2,500 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $20.00, for a total value of $50,000.00. Following the completion of the sale, the director now directly owns 65,318 shares of the company’s stock, valued at approximately $1,306,360. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On NETGEAR

Hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in shares of NETGEAR during the first quarter worth about $30,000. Quest Partners LLC acquired a new stake in NETGEAR during the 4th quarter worth approximately $53,000. Allspring Global Investments Holdings LLC lifted its stake in NETGEAR by 229.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 9,940 shares of the communications equipment provider’s stock valued at $157,000 after buying an additional 6,921 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of NETGEAR in the first quarter valued at approximately $176,000. Finally, Aigen Investment Management LP increased its position in shares of NETGEAR by 57.9% during the fourth quarter. Aigen Investment Management LP now owns 18,467 shares of the communications equipment provider’s stock worth $269,000 after acquiring an additional 6,772 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

About NETGEAR

NETGEAR, Inc provides connectivity solutions the Americas; Europe, the Middle East, Africa; and the Asia Pacific. The company operates in two segments, Connected Home, and NETGEAR for Business. The Connected Home segment offers Wi-Fi routers and home Wi-Fi mesh systems, Wi-Fi hotspots, digital displays, broadband modems, Wi-Fi gateways, Wi-Fi range extenders, powerline adapters, and Wi-Fi network adapters; and provides value-added service offerings, including security and privacy, technical support, and parental controls.