NETGEAR, Inc. (NASDAQ:NTGR) insider Mark G. Merrill sold 3,000 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $49.79, for a total value of $149,370.00. Following the sale, the insider now owns 32,534 shares of the company’s stock, valued at $1,619,867.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of NETGEAR, Inc. (NASDAQ NTGR) traded up $0.05 during trading hours on Wednesday, hitting $50.60. The company had a trading volume of 336,200 shares, compared to its average volume of 402,530. NETGEAR, Inc. has a twelve month low of $41.50 and a twelve month high of $59.92. The stock has a market capitalization of $1,590.00, a price-to-earnings ratio of 20.30 and a beta of 1.50.
NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings data on Wednesday, October 25th. The communications equipment provider reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.13. NETGEAR had a return on equity of 10.57% and a net margin of 5.33%. The business had revenue of $355.48 million during the quarter, compared to analyst estimates of $349.36 million. During the same period last year, the company earned $0.76 earnings per share. NETGEAR’s quarterly revenue was up 5.0% compared to the same quarter last year. equities analysts anticipate that NETGEAR, Inc. will post 2.24 EPS for the current year.
Several analysts recently issued reports on the company. Zacks Investment Research lowered NETGEAR from a “hold” rating to a “sell” rating in a report on Friday, October 13th. BWS Financial upgraded NETGEAR from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Monday, October 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $62.75.
A number of institutional investors have recently bought and sold shares of NTGR. BlackRock Inc. increased its position in NETGEAR by 38,710.4% during the first quarter. BlackRock Inc. now owns 4,184,534 shares of the communications equipment provider’s stock worth $207,344,000 after buying an additional 4,173,752 shares during the last quarter. Vanguard Group Inc. increased its position in NETGEAR by 2.3% during the first quarter. Vanguard Group Inc. now owns 3,151,201 shares of the communications equipment provider’s stock worth $156,142,000 after buying an additional 69,931 shares during the last quarter. Dimensional Fund Advisors LP increased its position in NETGEAR by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,764,602 shares of the communications equipment provider’s stock worth $119,155,000 after buying an additional 66,287 shares during the last quarter. Bank of New York Mellon Corp increased its position in NETGEAR by 11.4% during the third quarter. Bank of New York Mellon Corp now owns 1,917,611 shares of the communications equipment provider’s stock worth $91,278,000 after buying an additional 196,863 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in NETGEAR by 28.2% during the second quarter. Alliancebernstein L.P. now owns 1,417,760 shares of the communications equipment provider’s stock worth $61,105,000 after buying an additional 311,735 shares during the last quarter. 98.85% of the stock is currently owned by hedge funds and other institutional investors.
NETGEAR, Inc designs, develops and markets networking solutions and smart connected products for consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services.
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