NETGEAR (NASDAQ:NTGR) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of NETGEAR (NASDAQ:NTGR) from a hold rating to a buy rating in a research note issued to investors on Friday.

NETGEAR Price Performance

NETGEAR stock traded up $0.86 during mid-day trading on Friday, reaching $22.78. 589,501 shares of the company traded hands, compared to its average volume of 256,914. NETGEAR has a fifty-two week low of $10.48 and a fifty-two week high of $23.10. The company has a market capitalization of $653.33 million, a price-to-earnings ratio of 35.05 and a beta of 0.83. The firm’s fifty day moving average is $19.46 and its two-hundred day moving average is $16.16.

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

Insider Transactions at NETGEAR

In other news, Director Thomas H. Waechter sold 2,500 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $20.00, for a total value of $50,000.00. Following the sale, the director now owns 65,318 shares in the company, valued at $1,306,360. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in shares of NETGEAR in the first quarter valued at about $30,000. Values First Advisors Inc. acquired a new position in NETGEAR during the third quarter worth about $144,000. Allspring Global Investments Holdings LLC boosted its holdings in NETGEAR by 229.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,940 shares of the communications equipment provider’s stock valued at $157,000 after purchasing an additional 6,921 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in NETGEAR in the 1st quarter valued at about $176,000. Finally, Creative Planning purchased a new stake in shares of NETGEAR in the 3rd quarter valued at approximately $235,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

NETGEAR Company Profile

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.