NetGear (NTGR) Rating Lowered to Sell at ValuEngine

ValuEngine cut shares of NetGear (NASDAQ:NTGR) from a hold rating to a sell rating in a report released on Monday, February 4th.

A number of other equities research analysts also recently commented on the company. BidaskClub upgraded NetGear from a strong sell rating to a sell rating in a research report on Wednesday, October 24th. Zacks Investment Research reaffirmed a hold rating on shares of NetGear in a research note on Wednesday, November 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. NetGear has a consensus rating of Hold and an average target price of $65.20.

Shares of NTGR opened at $36.50 on Monday. NetGear has a 12 month low of $31.80 and a 12 month high of $78.30. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 20.98 and a beta of 1.88.

NetGear (NASDAQ:NTGR) last announced its quarterly earnings data on Wednesday, February 6th. The communications equipment provider reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.26). NetGear had a positive return on equity of 8.66% and a negative net margin of 0.19%. The company had revenue of $288.90 million for the quarter, compared to analysts’ expectations of $409.26 million. During the same quarter in the previous year, the business posted $0.71 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts anticipate that NetGear will post 2.52 EPS for the current year.

In other NetGear news, SVP Michael A. Werdann sold 1,656 shares of the company’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $38.77, for a total transaction of $64,203.12. Following the completion of the sale, the senior vice president now directly owns 23,047 shares of the company’s stock, valued at approximately $893,532.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Barbara Vaughn Scherer sold 683 shares of the company’s stock in a transaction that occurred on Friday, January 18th. The shares were sold at an average price of $38.61, for a total value of $26,370.63. Following the sale, the director now directly owns 14,450 shares of the company’s stock, valued at $557,914.50. The disclosure for this sale can be found here. Insiders have sold a total of 46,900 shares of company stock valued at $2,067,112 over the last ninety days. 5.10% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Marshall Wace North America L.P. purchased a new stake in NetGear during the 3rd quarter valued at approximately $212,000. Sensato Investors LLC purchased a new stake in NetGear during the 3rd quarter valued at approximately $365,000. Pacer Advisors Inc. increased its position in NetGear by 297.8% during the 3rd quarter. Pacer Advisors Inc. now owns 6,734 shares of the communications equipment provider’s stock worth $423,000 after purchasing an additional 5,041 shares during the period. BlueMountain Capital Management LLC increased its position in NetGear by 20.3% during the 3rd quarter. BlueMountain Capital Management LLC now owns 7,045 shares of the communications equipment provider’s stock worth $443,000 after purchasing an additional 1,188 shares during the period. Finally, Stevens Capital Management LP increased its position in NetGear by 123.7% during the 3rd quarter. Stevens Capital Management LP now owns 7,182 shares of the communications equipment provider’s stock worth $451,000 after purchasing an additional 3,972 shares during the period. 99.99% of the stock is owned by hedge funds and other institutional investors.

NetGear Company Profile

NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. The company operates in three segments: Arlo, Connected Home, and Small and Medium Business. It offers smart home/connected home/broadband access products, such as remote video security systems, broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, and WiFi network adapters.

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