Raymond James Issues Positive Forecast for NETGEAR (NASDAQ:NTGR) Stock Price

NETGEAR (NASDAQ:NTGR) had its target price increased by equities research analysts at Raymond James from $22.00 to $29.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the communications equipment provider’s stock. Raymond James’ target price suggests a potential downside of 1.33% from the company’s previous close.

Separately, StockNews.com raised shares of NETGEAR from a “hold” rating to a “buy” rating in a research report on Friday, November 1st.

NETGEAR Stock Up 3.0 %

Shares of NTGR opened at $29.39 on Thursday. NETGEAR has a 52-week low of $10.48 and a 52-week high of $31.55. The stock has a fifty day simple moving average of $26.83 and a two-hundred day simple moving average of $21.93. The company has a market capitalization of $845.55 million, a PE ratio of 45.22 and a beta of 0.83.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.24). NETGEAR had a net margin of 2.88% and a negative return on equity of 8.06%. As a group, equities analysts anticipate that NETGEAR will post -1.66 earnings per share for the current fiscal year.

Insider Activity at NETGEAR

In other NETGEAR news, Director Thomas H. Waechter sold 2,000 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $30.42, for a total transaction of $60,840.00. Following the completion of the transaction, the director now owns 61,135 shares of the company’s stock, valued at $1,859,726.70. This trade represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.00% of the stock is owned by insiders.

Hedge Funds Weigh In On NETGEAR

Hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC lifted its stake in NETGEAR by 23.2% during the third quarter. Empowered Funds LLC now owns 141,976 shares of the communications equipment provider’s stock worth $2,848,000 after purchasing an additional 26,756 shares in the last quarter. Inspire Investing LLC purchased a new stake in shares of NETGEAR in the 4th quarter valued at $852,000. Robeco Institutional Asset Management B.V. lifted its stake in NETGEAR by 285.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 79,693 shares of the communications equipment provider’s stock worth $2,221,000 after acquiring an additional 59,005 shares in the last quarter. Franklin Resources Inc. boosted its holdings in NETGEAR by 5.3% during the 3rd quarter. Franklin Resources Inc. now owns 42,673 shares of the communications equipment provider’s stock valued at $883,000 after acquiring an additional 2,166 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in NETGEAR in the 3rd quarter valued at about $1,805,000. Hedge funds and other 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.