NETGEAR (NASDAQ:NTGR) Raised to “Buy” at StockNews.com

NETGEAR (NASDAQ:NTGR) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

NETGEAR Trading Up 3.9 %

Shares of NASDAQ NTGR traded up $0.86 during mid-day trading on Friday, reaching $22.78. The company had a trading volume of 589,036 shares, compared to its average volume of 256,914. The company has a 50-day moving average price of $19.46 and a two-hundred day moving average price of $16.16. The stock has a market cap of $653.33 million, a PE ratio of 35.05 and a beta of 0.83. NETGEAR has a 1-year low of $10.48 and a 1-year high of $23.10.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, July 31st. The communications equipment provider reported ($0.94) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.94). NETGEAR had a negative return on equity of 8.26% and a net margin of 2.88%. The firm had revenue of $143.90 million for the quarter, compared to analysts’ expectations of $132.69 million. On average, research analysts expect that NETGEAR will post -1.97 EPS for the current year.

Insider Activity at NETGEAR

In other NETGEAR news, Director Thomas H. Waechter sold 2,500 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $20.00, for a total transaction of $50,000.00. Following the sale, the director now directly owns 65,318 shares of the company’s stock, valued at $1,306,360. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Mizuho Markets Americas LLC purchased a new position in NETGEAR during the 1st quarter valued at about $1,055,000. Renaissance Technologies LLC boosted its holdings in shares of NETGEAR by 10.6% during the second quarter. Renaissance Technologies LLC now owns 263,018 shares of the communications equipment provider’s stock worth $4,024,000 after purchasing an additional 25,200 shares during the period. Federated Hermes Inc. grew its position in NETGEAR by 125.0% during the second quarter. Federated Hermes Inc. now owns 127,892 shares of the communications equipment provider’s stock valued at $1,957,000 after purchasing an additional 71,054 shares in the last quarter. First Eagle Investment Management LLC increased its stake in NETGEAR by 39.1% in the 1st quarter. First Eagle Investment Management LLC now owns 163,412 shares of the communications equipment provider’s stock valued at $2,577,000 after buying an additional 45,900 shares during the period. Finally, Brandes Investment Partners LP grew its holdings in shares of NETGEAR by 6.8% during the 2nd quarter. Brandes Investment Partners LP now owns 3,896,492 shares of the communications equipment provider’s stock valued at $59,246,000 after acquiring an additional 247,162 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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.