NETGEAR (NASDAQ:NTGR) Downgraded by StockNews.com

StockNews.com cut shares of NETGEAR (NASDAQ:NTGR) from a buy rating to a hold rating in a research note released on Tuesday morning.

NETGEAR Trading Up 0.8 %

NASDAQ NTGR opened at $20.70 on Tuesday. NETGEAR has a 1-year low of $10.40 and a 1-year high of $22.62. The company has a market capitalization of $602.37 million, a price-to-earnings ratio of -5.38 and a beta of 0.82. The stock’s 50 day moving average is $16.31 and its two-hundred day moving average is $14.98.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, July 31st. The communications equipment provider reported ($0.94) EPS for the quarter, meeting the consensus estimate of ($0.94). NETGEAR had a negative return on equity of 7.52% and a negative net margin of 21.62%. The business had revenue of $143.90 million for the quarter, compared to analyst estimates of $132.69 million. On average, analysts predict that NETGEAR will post -2.29 earnings per share for the current year.

Insider Buying and Selling

In other NETGEAR news, Director Thomas H. Waechter sold 2,500 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.00, for a total value of $50,000.00. Following the transaction, the director now directly owns 65,318 shares in the company, valued at $1,306,360. The transaction was disclosed in a document filed with the SEC, which is available through this link. 7.00% of the stock is currently owned by corporate insiders.

Institutional Trading of NETGEAR

Several large investors have recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new position in shares of NETGEAR in the second quarter valued at about $627,000. Brandes Investment Partners LP raised its stake in shares of NETGEAR by 6.8% in the second quarter. Brandes Investment Partners LP now owns 3,896,492 shares of the communications equipment provider’s stock worth $59,246,000 after acquiring an additional 247,162 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of NETGEAR during the second quarter worth approximately $446,000. Renaissance Technologies LLC lifted its position 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 in the last quarter. Finally, Donald Smith & CO. Inc. grew its stake in shares of NETGEAR by 11.9% during the second quarter. Donald Smith & CO. Inc. now owns 329,300 shares of the communications equipment provider’s stock valued at $5,038,000 after purchasing an additional 35,100 shares during the last quarter. 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.