NETGEAR (NASDAQ:NTGR) Stock Price Expected to Rise, Raymond James Analyst Says

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

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

NETGEAR Stock Performance

Shares of NASDAQ NTGR opened at $29.39 on Thursday. The company has a market capitalization of $845.55 million, a PE ratio of 45.22 and a beta of 0.83. The company’s fifty day moving average price is $26.83 and its 200 day moving average price is $21.93. NETGEAR has a 1 year low of $10.48 and a 1 year high of $31.55.

NETGEAR (NASDAQ:NTGR) last posted its earnings results 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%. On average, equities analysts expect that NETGEAR will post -1.66 EPS for the current year.

Insider Transactions at NETGEAR

In related news, Director Thomas H. Waechter sold 2,000 shares of NETGEAR stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $30.42, for a total value of $60,840.00. Following the sale, the director now directly owns 61,135 shares in the company, valued at approximately $1,859,726.70. The trade was a 3.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On NETGEAR

Several hedge funds and other institutional investors have recently made changes to their positions in NTGR. Tenzing Global Management LLC purchased a new stake in shares of NETGEAR during the third quarter worth approximately $3,510,000. Empowered Funds LLC boosted its stake in NETGEAR by 5.1% during the 4th quarter. Empowered Funds LLC now owns 149,219 shares of the communications equipment provider’s stock worth $4,159,000 after purchasing an additional 7,243 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of NETGEAR by 124.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,413 shares of the communications equipment provider’s stock worth $2,917,000 after buying an additional 80,746 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of NETGEAR in the third quarter valued at about $1,805,000. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of NETGEAR by 285.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 79,693 shares of the communications equipment provider’s stock worth $2,221,000 after buying an additional 59,005 shares in the last quarter. Hedge funds and other institutional investors 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.