NETGEAR (NASDAQ:NTGR) Downgraded to “Hold” at StockNews.com

NETGEAR (NASDAQ:NTGR) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

NETGEAR Price Performance

Shares of NASDAQ NTGR opened at $21.36 on Tuesday. The company has a 50 day simple moving average of $15.94 and a 200 day simple moving average of $14.86. The firm has a market cap of $621.58 million, a PE ratio of -5.55 and a beta of 0.82. NETGEAR has a 1 year low of $10.40 and a 1 year high of $22.62.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings data on Wednesday, July 31st. The communications equipment provider reported ($0.94) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.94). The business had revenue of $143.90 million during the quarter, compared to analyst estimates of $132.69 million. NETGEAR had a negative net margin of 21.62% and a negative return on equity of 7.52%. As a group, research analysts anticipate that NETGEAR will post -2.29 earnings per share for the current fiscal year.

Insider Activity at NETGEAR

In other NETGEAR news, Director Thomas H. Waechter sold 2,500 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $20.00, for a total transaction of $50,000.00. Following the completion of the sale, the director now owns 65,318 shares of the company’s stock, valued at approximately $1,306,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.00% of the stock is owned by company insiders.

Institutional Trading of NETGEAR

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTGR. Acadian Asset Management LLC increased its position in NETGEAR by 72.4% during the 1st quarter. Acadian Asset Management LLC now owns 622,936 shares of the communications equipment provider’s stock valued at $9,820,000 after purchasing an additional 261,705 shares during the period. Brandes Investment Partners LP grew its position in shares of NETGEAR by 6.8% during the 2nd quarter. Brandes Investment Partners LP now owns 3,896,492 shares of the communications equipment provider’s stock worth $59,246,000 after buying an additional 247,162 shares during the period. American Century Companies Inc. grew its position in shares of NETGEAR by 137.3% during the 2nd quarter. American Century Companies Inc. now owns 353,893 shares of the communications equipment provider’s stock worth $5,415,000 after buying an additional 204,734 shares during the period. Vanguard Group Inc. grew its position in shares of NETGEAR by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 2,513,785 shares of the communications equipment provider’s stock worth $39,642,000 after buying an additional 105,994 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of NETGEAR by 125.0% during the 2nd quarter. Federated Hermes Inc. now owns 127,892 shares of the communications equipment provider’s stock worth $1,957,000 after buying an additional 71,054 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

About NETGEAR

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.