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

NETGEAR (NASDAQ:NTGR) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

NETGEAR Stock Performance

NTGR stock opened at $21.36 on Tuesday. The company’s 50-day simple moving average is $15.94 and its 200 day simple moving average is $14.86. NETGEAR has a 52 week low of $10.40 and a 52 week high of $22.62. The company has a market capitalization of $621.58 million, a PE ratio of -5.55 and a beta of 0.82.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings data on Wednesday, July 31st. The communications equipment provider reported ($0.94) earnings per share for the quarter, hitting the consensus estimate of ($0.94). NETGEAR had a negative net margin of 21.62% and a negative return on equity of 7.52%. The business had revenue of $143.90 million during the quarter, compared to analysts’ expectations of $132.69 million. On average, analysts forecast that NETGEAR will post -2.29 EPS for the current year.

Insider Buying and Selling

In related news, Director Thomas H. Waechter sold 2,500 shares of the company’s stock in a transaction dated 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 $1,306,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NETGEAR

Several institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in NETGEAR by 3.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 37,779 shares of the communications equipment provider’s stock worth $596,000 after purchasing an additional 1,247 shares during the period. Rhumbline Advisers lifted its holdings in shares of NETGEAR by 4.2% in the second quarter. Rhumbline Advisers now owns 47,101 shares of the communications equipment provider’s stock worth $721,000 after acquiring an additional 1,904 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of NETGEAR in the first quarter worth about $30,000. Donald Smith & CO. Inc. lifted its holdings in shares of NETGEAR by 0.7% in the first quarter. Donald Smith & CO. Inc. now owns 294,200 shares of the communications equipment provider’s stock worth $4,640,000 after acquiring an additional 2,008 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of NETGEAR in the fourth quarter worth about $53,000. Institutional investors own 82.97% of the company’s stock.

NETGEAR Company Profile

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.