Equities analysts expect NETGEAR, Inc. (NASDAQ:NTGR) to post sales of $315.41 million for the current quarter, according to Zacks. Three analysts have issued estimates for NETGEAR's earnings, with the lowest sales estimate coming in at $314.06 million and the highest estimate coming in at $317.87 million. NETGEAR reported sales of $280.05 million during the same quarter last year, which indicates a positive year-over-year growth rate of 12.6%. The company is expected to issue its next quarterly earnings results on Wednesday, July 28th.
According to Zacks, analysts expect that NETGEAR will report full-year sales of $1.35 billion for the current year, with estimates ranging from $1.33 billion to $1.35 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.37 billion, with estimates ranging from $1.35 billion to $1.40 billion. Zacks' sales calculations are an average based on a survey of research firms that cover NETGEAR.
NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings results on Tuesday, April 20th. The communications equipment provider reported $0.99 EPS for the quarter, beating the Zacks' consensus estimate of $0.66 by $0.33. The business had revenue of $317.90 million for the quarter, compared to analysts' expectations of $310.21 million. NETGEAR had a return on equity of 12.82% and a net margin of 6.36%. The business's quarterly revenue was up 38.2% on a year-over-year basis. During the same period last year, the firm earned $0.21 earnings per share.
A number of research firms have commented on NTGR. Raymond James decreased their price target on NETGEAR from $50.00 to $48.00 and set an "outperform" rating on the stock in a report on Thursday, April 22nd. Zacks Investment Research cut NETGEAR from a "buy" rating to a "hold" rating and set a $45.00 target price on the stock. in a report on Tuesday, April 6th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. NETGEAR presently has an average rating of "Hold" and an average price target of $47.60.
In other NETGEAR news, CEO Patrick Cs Lo sold 26,076 shares of the business's stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $41.36, for a total transaction of $1,078,503.36. Following the sale, the chief executive officer now directly owns 106,147 shares of the company's stock, valued at $4,390,239.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrew Wonki Kim sold 781 shares of the business's stock in a transaction that occurred on Wednesday, May 19th. The stock was sold at an average price of $36.62, for a total value of $28,600.22. Following the sale, the senior vice president now directly owns 64,970 shares in the company, valued at $2,379,201.40. The disclosure for this sale can be found here. Insiders have sold 78,367 shares of company stock worth $3,088,384 over the last three months. 4.70% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Mutual of America Capital Management LLC increased its stake in NETGEAR by 7.5% during the first quarter. Mutual of America Capital Management LLC now owns 4,087 shares of the communications equipment provider's stock worth $168,000 after acquiring an additional 284 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of NETGEAR by 0.9% during the first quarter. UBS Asset Management Americas Inc. now owns 32,995 shares of the communications equipment provider's stock valued at $1,356,000 after buying an additional 284 shares during the period. Diversified Trust Co boosted its position in shares of NETGEAR by 3.7% during the first quarter. Diversified Trust Co now owns 10,185 shares of the communications equipment provider's stock valued at $419,000 after buying an additional 364 shares during the period. Paloma Partners Management Co boosted its position in shares of NETGEAR by 7.5% during the first quarter. Paloma Partners Management Co now owns 6,350 shares of the communications equipment provider's stock valued at $261,000 after buying an additional 445 shares during the period. Finally, Verdence Capital Advisors LLC boosted its position in shares of NETGEAR by 5.1% during the first quarter. Verdence Capital Advisors LLC now owns 9,288 shares of the communications equipment provider's stock valued at $382,000 after buying an additional 450 shares during the period. 99.60% of the stock is currently owned by institutional investors.
NASDAQ:NTGR opened at $39.93 on Friday. The firm's 50-day simple moving average is $38.66. The company has a market capitalization of $1.22 billion, a PE ratio of 14.57 and a beta of 0.80. NETGEAR has a 52 week low of $23.20 and a 52 week high of $46.38.
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.
Further Reading: Real Estate Investment Trust (REIT) ETF
Get a free copy of the Zacks research report on NETGEAR (NTGR)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: What Is An Exchange-Traded Fund (ETF)?7 Tech Stocks That Will Avoid Government Regulation
As if investing in the tech sector did not carry enough risk, there’s a new threat to the tech part of your portfolio. There is a growing sense that the United States Congress will seek to regulate some of the largest tech companies.
At this point, it looks like several of the FAANG stocks (Facebook, Amazon, Apple, Netflix, and Alphabet/Google) may be the initial targets. Some regulation, particularly regarding data security and privacy – not to mention censorship - would be welcome. But we all know it’s not likely to stop there.
What will more extreme regulation look like? If the most vocal members of Congress hold sway, some of these companies may get broken up or face utility-like regulation. From an investment standpoint, it just adds uncertainty.
The good news is that the tech sector encompasses many companies that are likely to avoid government regulation. With areas like cybersecurity, support for remote work, and mobile gaming to continue to pick up steam, there are other areas that can help boost your portfolio.
And in this special presentation, we’ll give you seven of our picks for tech stocks that will avoid government regulation.
View the "7 Tech Stocks That Will Avoid Government Regulation"