NETGEAR, Inc. (NASDAQ:NTGR) Expected to Post FY2023 Earnings of ($0.60) Per Share

NETGEAR, Inc. (NASDAQ:NTGRFree Report) – Stock analysts at Zacks Research lifted their FY2023 earnings per share (EPS) estimates for shares of NETGEAR in a research note issued to investors on Tuesday, February 6th. Zacks Research analyst V. Doshi now anticipates that the communications equipment provider will earn ($0.60) per share for the year, up from their prior estimate of ($0.62). The consensus estimate for NETGEAR’s current full-year earnings is ($0.62) per share. Zacks Research also issued estimates for NETGEAR’s Q4 2023 earnings at ($0.07) EPS, Q1 2024 earnings at ($0.06) EPS, Q2 2024 earnings at ($0.05) EPS, Q2 2025 earnings at $0.01 EPS, Q3 2025 earnings at $0.03 EPS and FY2025 earnings at $0.06 EPS.

NETGEAR (NASDAQ:NTGRGet Free Report) last released its quarterly earnings results on Wednesday, February 7th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. NETGEAR had a negative return on equity of 3.76% and a negative net margin of 13.62%. The firm had revenue of $188.67 million for the quarter, compared to the consensus estimate of $185.14 million. During the same quarter last year, the business posted ($0.21) EPS. The firm’s quarterly revenue was down 24.3% compared to the same quarter last year.

Several other analysts have also recently commented on NTGR. Raymond James reduced their price target on NETGEAR from $22.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, October 26th. StockNews.com raised NETGEAR from a “sell” rating to a “hold” rating in a report on Thursday, October 26th.

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NETGEAR Trading Up 0.1 %

Shares of NTGR stock opened at $14.32 on Thursday. The business’s 50 day moving average is $14.36 and its two-hundred day moving average is $13.20. NETGEAR has a twelve month low of $10.40 and a twelve month high of $19.68. The company has a market capitalization of $424.02 million, a P/E ratio of -3.87 and a beta of 0.81.

Hedge Funds Weigh In On NETGEAR

Institutional investors have recently made changes to their positions in the stock. Quilter Plc bought a new position in NETGEAR in the 1st quarter worth approximately $983,070,000. Quadrant Capital Group LLC lifted its position in NETGEAR by 309.1% in the second quarter. Quadrant Capital Group LLC now owns 1,968 shares of the communications equipment provider’s stock worth $28,000 after purchasing an additional 1,487 shares during the period. Osaic Holdings Inc. lifted its position in NETGEAR by 512.7% in the second quarter. Osaic Holdings Inc. now owns 1,973 shares of the communications equipment provider’s stock worth $28,000 after purchasing an additional 1,651 shares during the period. Headlands Technologies LLC acquired a new stake in NETGEAR in the second quarter worth approximately $31,000. Finally, Tower Research Capital LLC TRC lifted its position in NETGEAR by 54.6% in the third quarter. Tower Research Capital LLC TRC now owns 2,371 shares of the communications equipment provider’s stock worth $48,000 after purchasing an additional 837 shares during the period. 81.36% of the stock is owned by institutional investors.

Insider Buying and Selling

In other NETGEAR news, SVP Vikram Mehta sold 1,844 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $14.48, for a total transaction of $26,701.12. Following the sale, the senior vice president now owns 25,569 shares in the company, valued at $370,239.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Andrew Wonki Kim sold 5,519 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $13.00, for a total transaction of $71,747.00. Following the completion of the transaction, the senior vice president now directly owns 104,933 shares of the company’s stock, valued at $1,364,129. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Vikram Mehta sold 1,844 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $14.48, for a total value of $26,701.12. Following the transaction, the senior vice president now directly owns 25,569 shares of the company’s stock, valued at $370,239.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,450 shares of company stock worth $285,989. 6.00% of the stock is currently owned by corporate insiders.

About NETGEAR

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NETGEAR, Inc engages in the design, development, and marketing of networking and Internet connected products for consumers, businesses, and service providers in the Americas; Europe, the Middle East, Africa; and the Asia Pacific. The company operates in two segments, Connected Home, and Small and Medium Business.

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Earnings History and Estimates for NETGEAR (NASDAQ:NTGR)

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