NETGEAR (NASDAQ:NTGR) had its target price increased by Deutsche Bank Aktiengesellschaft from $32.00 to $39.00 in a research report issued on Thursday, The Fly reports. The firm presently has a “hold” rating on the communications equipment provider’s stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 14.14% from the stock’s previous close.
Other research analysts have also recently issued reports about the company. ValuEngine upgraded NETGEAR from a “hold” rating to a “buy” rating in a research note on Thursday, September 3rd. BWS Financial increased their price target on NETGEAR from $33.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. BidaskClub upgraded NETGEAR from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Raymond James boosted their price target on NETGEAR from $35.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $42.50.
NASDAQ:NTGR traded down $2.36 during trading hours on Thursday, reaching $34.17. The company’s stock had a trading volume of 29,452 shares, compared to its average volume of 360,168. The stock has a 50 day moving average price of $31.60 and a two-hundred day moving average price of $27.91. The company has a market capitalization of $1.09 billion, a P/E ratio of 76.71 and a beta of 1.12. NETGEAR has a 12 month low of $15.01 and a 12 month high of $37.40.
In related news, SVP Tamesa Rogers sold 3,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $31.27, for a total transaction of $93,810.00. Following the completion of the sale, the senior vice president now owns 46,588 shares of the company’s stock, valued at approximately $1,456,806.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Patrick Cs Lo sold 43,823 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $32.67, for a total value of $1,431,697.41. Following the completion of the sale, the chief executive officer now directly owns 301,863 shares of the company’s stock, valued at approximately $9,861,864.21. The disclosure for this sale can be found here. Over the last quarter, insiders sold 139,304 shares of company stock worth $4,581,997. 5.40% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. grew its stake in shares of NETGEAR by 0.3% in the second quarter. Victory Capital Management Inc. now owns 2,322,125 shares of the communications equipment provider’s stock valued at $60,120,000 after buying an additional 6,318 shares in the last quarter. Brandes Investment Partners LP increased its stake in NETGEAR by 0.9% during the second quarter. Brandes Investment Partners LP now owns 1,331,564 shares of the communications equipment provider’s stock worth $34,474,000 after purchasing an additional 11,811 shares during the period. Macquarie Group Ltd. grew its holdings in shares of NETGEAR by 8.7% in the second quarter. Macquarie Group Ltd. now owns 1,261,904 shares of the communications equipment provider’s stock valued at $32,671,000 after purchasing an additional 101,513 shares in the last quarter. State Street Corp boosted its position in NETGEAR by 13.4% in the 1st quarter. State Street Corp now owns 1,115,613 shares of the communications equipment provider’s stock valued at $25,481,000 after buying an additional 131,985 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of NETGEAR by 7.7% in the second quarter. Bank of New York Mellon Corp now owns 1,112,865 shares of the communications equipment provider’s stock worth $28,812,000 after acquiring an additional 79,951 shares in the last quarter. 97.89% of the stock is owned by institutional investors.
NETGEAR Company Profile
NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. It operates in two segments, Connected Home, and Small and Medium Business. The company offers smart home/connected home/broadband access products, such as broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, WiFi network adapters, and digital canvasses; and value added service offerings, including technical support, parental controls, and cybersecurity protection.
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