NetGear (NASDAQ:NTGR) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Friday, BidAskClub reports.

A number of other analysts also recently weighed in on the stock. Guggenheim reiterated a “hold” rating on shares of Tempur Sealy International in a research report on Wednesday, June 19th. Zacks Investment Research downgraded shares of Great Portland Estates from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. ValuEngine downgraded shares of Welbilt from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Deutsche Bank set a $142.00 price target on shares of MCCORMICK & CO /SH and gave the company a “hold” rating in a research report on Friday, June 28th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. NetGear presently has a consensus rating of “Hold” and a consensus target price of $52.33.

Shares of NASDAQ:NTGR opened at $34.25 on Friday. The firm has a market cap of $1.08 billion, a P/E ratio of 22.10 and a beta of 1.72. The company has a 50 day moving average price of $26.33. The company has a quick ratio of 1.82, a current ratio of 2.45 and a debt-to-equity ratio of 0.05. NetGear has a fifty-two week low of $24.63 and a fifty-two week high of $75.25.

NetGear (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, July 24th. The communications equipment provider reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.14). The firm had revenue of $230.85 million during the quarter, compared to analyst estimates of $224.35 million. NetGear had a net margin of 0.91% and a return on equity of 7.26%. The business’s revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 earnings per share. On average, equities analysts anticipate that NetGear will post 1.9 earnings per share for the current year.

In related news, Chairman Patrick Cs Lo sold 34,764 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $33.04, for a total transaction of $1,148,602.56. Following the completion of the sale, the chairman now directly owns 273,057 shares of the company’s stock, valued at approximately $9,021,803.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Tamesa Rogers sold 3,724 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $31.00, for a total value of $115,444.00. Following the sale, the senior vice president now directly owns 44,865 shares of the company’s stock, valued at $1,390,815. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,325 shares of company stock valued at $1,500,182. 5.10% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Systematic Financial Management LP bought a new position in shares of NetGear during the 2nd quarter worth approximately $5,379,000. KMG Fiduciary Partners LLC bought a new position in shares of NetGear during the 2nd quarter worth approximately $521,000. Virginia Retirement Systems ET AL bought a new position in shares of NetGear during the 2nd quarter worth approximately $577,000. Rothschild & Co. Asset Management US Inc. bought a new position in shares of NetGear during the 2nd quarter worth approximately $19,210,000. Finally, BTIM Corp. bought a new position in shares of NetGear during the 2nd quarter worth approximately $14,569,000. 99.67% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for NetGear (NASDAQ:NTGR)

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