NETGEAR (NASDAQ:NTGR) Stock Price Target Lowered at Stifel Nicolaus

Key Points

• Stifel Nicolaus cut NETGEAR’s price target from $36 to $30 but maintained a “buy” rating, implying approximately 27.3% upside from the stock’s $23.56 price.
• Analyst sentiment remains mixed: NETGEAR has two buy ratings, one hold, and one sell, resulting in an overall “hold” consensus and an average price target of $33.50.
• NETGEAR’s latest quarterly results beat expectations, with EPS of $0.16 versus a $0.01 estimate and revenue of $168.56 million, although revenue declined 1.2% year over year and the company remains unprofitable.

NETGEAR (NASDAQ:NTGR - Get Free Report) had its price objective decreased by equities research analysts at Stifel Nicolaus from $36.00 to $30.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a "buy" rating on the communications equipment provider's stock. Stifel Nicolaus' price target would suggest a potential upside of 27.33% from the company's current price.

A number of other analysts have also recently weighed in on the stock. Weiss Ratings reiterated a "sell (d)" rating on shares of NETGEAR in a research note on Monday, September 21st. Wall Street Zen upgraded shares of NETGEAR from a "sell" rating to a "hold" rating in a research note on Sunday, September 6th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $33.50.

NETGEAR Price Performance

Shares of NASDAQ:NTGR opened at $23.56 on Monday. NETGEAR has a 12 month low of $19.00 and a 12 month high of $36.86. The firm has a market capitalization of $640.36 million, a P/E ratio of -25.33 and a beta of 1.15. The company's fifty day moving average price is $22.43 and its 200 day moving average price is $23.53.

NETGEAR (NASDAQ:NTGR - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.15. NETGEAR had a negative net margin of 3.71% and a negative return on equity of 2.79%. The company had revenue of $168.56 million during the quarter, compared to the consensus estimate of $157.80 million. During the same quarter in the prior year, the firm posted $0.06 earnings per share. NETGEAR's revenue for the quarter was down 1.2% on a year-over-year basis. On average, sell-side analysts anticipate that NETGEAR will post -0.58 EPS for the current year.

Insider Buying and Selling at NETGEAR

In related news, insider Pramod Badjate sold 3,000 shares of NETGEAR stock in a transaction on Friday, July 31st. The shares were sold at an average price of $23.88, for a total value of $71,640.00. Following the transaction, the insider directly owned 154,073 shares in the company, valued at $3,679,263.24. This trade represents a 1.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 3.10% of the stock is currently owned by corporate insiders.

Institutional Trading of NETGEAR

Hedge funds have recently made changes to their positions in the company. Continuum Advisory LLC acquired a new position in shares of NETGEAR during the second quarter worth about $25,000. Integrated Wealth Concepts LLC acquired a new stake in NETGEAR in the second quarter valued at about $31,000. Persistent Asset Partners Ltd acquired a new stake in NETGEAR in the second quarter valued at about $58,000. Fifth Third Bancorp boosted its holdings in NETGEAR by 6,085.7% in the 1st quarter. Fifth Third Bancorp now owns 3,031 shares of the communications equipment provider's stock valued at $66,000 after purchasing an additional 2,982 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in NETGEAR during the 2nd quarter worth approximately $180,000. Institutional investors and hedge funds own 82.97% of the company's stock.

NETGEAR Company Profile

NETGEAR, Inc NASDAQ: NTGR develops and markets networking products and related services for consumers, businesses and service providers. Its portfolio is designed to provide wired and wireless connectivity, internet access, network management and security for homes, offices and other environments.

The company's products include Wi-Fi routers and mesh systems, cable modems, wireless access points, range extenders, switches and other networking hardware. NETGEAR also offers business-oriented networking solutions, including managed and unmanaged switches, wireless systems and storage products, as well as subscription-based services such as network security and monitoring for compatible devices.

Founded in 1996 and headquartered in San Jose, California, NETGEAR sells its products through retailers, e-commerce channels, value-added resellers, distributors and internet service providers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.