NETGEAR, Inc. (NASDAQ:NTGR - Get Free Report)'s share price rose 9.3% during mid-day trading on Friday . The stock traded as high as $24.21 and last traded at $24.53. Approximately 78,916 shares traded hands during trading, a decline of 76% from the average daily volume of 329,435 shares. The stock had previously closed at $22.43.
Wall Street Analyst Weigh In
NTGR has been the topic of a number of research reports. StockNews.com lowered NETGEAR from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Raymond James lifted their price target on shares of NETGEAR from $22.00 to $29.00 and gave the company an "outperform" rating in a report on Thursday, February 6th.
Check Out Our Latest Stock Analysis on NTGR
NETGEAR Trading Up 2.0 %
The stock has a market cap of $704.30 million, a P/E ratio of 61.18 and a beta of 1.03. The company's 50-day simple moving average is $23.58 and its 200 day simple moving average is $24.87.
NETGEAR (NASDAQ:NTGR - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The communications equipment provider reported ($0.24) EPS for the quarter, meeting the consensus estimate of ($0.24). NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. Research analysts anticipate that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.
Insider Activity
In related news, CFO Murray Bryan sold 3,848 shares of NETGEAR stock in a transaction on Friday, March 14th. The stock was sold at an average price of $23.92, for a total value of $92,044.16. Following the completion of the sale, the chief financial officer now owns 193,032 shares of the company's stock, valued at $4,617,325.44. The trade was a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Charles J. Prober sold 10,929 shares of NETGEAR stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $26.64, for a total value of $291,148.56. Following the transaction, the chief executive officer now directly owns 507,763 shares in the company, valued at approximately $13,526,806.32. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.00% of the company's stock.
Hedge Funds Weigh In On NETGEAR
Several institutional investors have recently added to or reduced their stakes in NTGR. Dimensional Fund Advisors LP boosted its holdings in NETGEAR by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,332,316 shares of the communications equipment provider's stock valued at $37,132,000 after acquiring an additional 44,752 shares during the period. American Century Companies Inc. grew its stake in NETGEAR by 31.6% during the 4th quarter. American Century Companies Inc. now owns 770,464 shares of the communications equipment provider's stock valued at $21,473,000 after purchasing an additional 184,863 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in NETGEAR by 126.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 675,209 shares of the communications equipment provider's stock valued at $18,818,000 after purchasing an additional 376,974 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of NETGEAR by 22.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 506,756 shares of the communications equipment provider's stock valued at $14,123,000 after purchasing an additional 93,737 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in shares of NETGEAR by 47.7% in the 4th quarter. Bridgeway Capital Management LLC now owns 406,119 shares of the communications equipment provider's stock valued at $11,319,000 after purchasing an additional 131,243 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.
NETGEAR Company Profile
(
Get Free Report)
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.
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