NETGEAR (NASDAQ:NTGR) Rating Increased to Buy at StockNews.com

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

NETGEAR Price Performance

Shares of NASDAQ NTGR traded up $0.86 during mid-day trading on Friday, hitting $22.78. The company had a trading volume of 589,036 shares, compared to its average volume of 256,914. NETGEAR has a 12 month low of $10.48 and a 12 month high of $23.10. The stock has a market cap of $653.33 million, a price-to-earnings ratio of 35.05 and a beta of 0.83. The firm’s 50 day simple moving average is $19.46 and its two-hundred day simple moving average is $16.16.

NETGEAR (NASDAQ:NTGR) last posted its earnings results 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 company had revenue of $143.90 million for the quarter, compared to analysts’ expectations of $132.69 million. NETGEAR had a negative return on equity of 8.26% and a net margin of 2.88%. Equities analysts forecast that NETGEAR will post -1.97 earnings per share for the current year.

Insider Buying and Selling at NETGEAR

In related news, Director Thomas H. Waechter sold 2,500 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 65,318 shares of the company’s stock, valued at $1,306,360. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On NETGEAR

Large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of NETGEAR by 3.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 37,779 shares of the communications equipment provider’s stock valued at $596,000 after acquiring an additional 1,247 shares in the last quarter. Rhumbline Advisers increased its position in shares of NETGEAR by 4.2% during the 2nd quarter. Rhumbline Advisers now owns 47,101 shares of the communications equipment provider’s stock valued at $721,000 after purchasing an additional 1,904 shares during the period. Headlands Technologies LLC acquired a new position in shares of NETGEAR during the 1st quarter valued at $30,000. Donald Smith & CO. Inc. raised its stake in shares of NETGEAR by 0.7% in the 1st quarter. Donald Smith & CO. Inc. now owns 294,200 shares of the communications equipment provider’s stock worth $4,640,000 after buying an additional 2,008 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of NETGEAR by 7.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,180 shares of the communications equipment provider’s stock valued at $1,190,000 after buying an additional 4,816 shares during the period. Institutional investors and hedge funds 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.