NETGEAR (NTGR) Set to Announce Quarterly Earnings on Wednesday

NETGEAR (NASDAQ:NTGR) will announce its earnings results after the market closes on Wednesday, May 1st. Analysts expect NETGEAR to post earnings of ($0.27) per share for the quarter. NETGEAR has set its Q1 2024 guidance at EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings data on Wednesday, February 7th. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.04. The business had revenue of $188.67 million for the quarter, compared to analysts’ expectations of $185.14 million. NETGEAR had a negative return on equity of 2.96% and a negative net margin of 14.14%. The company’s revenue for the quarter was down 24.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.21) EPS. On average, analysts expect NETGEAR to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

NETGEAR Price Performance

NTGR stock opened at $14.86 on Tuesday. The firm has a fifty day moving average price of $14.91 and a 200 day moving average price of $14.04. NETGEAR has a fifty-two week low of $10.40 and a fifty-two week high of $15.93.

Insiders Place Their Bets

In other news, SVP Vikram Mehta sold 1,844 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $14.48, for a total value of $26,701.12. Following the completion of the sale, the senior vice president now directly owns 25,569 shares of the company’s stock, valued at approximately $370,239.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Vikram Mehta sold 1,844 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $14.48, for a total value of $26,701.12. Following the sale, the senior vice president now owns 25,569 shares of the company’s stock, valued at $370,239.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Andrew Wonki Kim sold 5,723 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $14.54, for a total transaction of $83,212.42. Following the completion of the sale, the insider now owns 76,656 shares of the company’s stock, valued at approximately $1,114,578.24. The disclosure for this sale can be found here. Insiders have sold 13,456 shares of company stock valued at $195,304 over the last ninety days. 7.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, BWS Financial reiterated a “buy” rating and set a $30.00 price objective on shares of NETGEAR in a research report on Wednesday, April 10th.

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.