Equities Analysts Offer Predictions for NETGEAR, Inc.’s Q3 2024 Earnings (NASDAQ:NTGR)

NETGEAR, Inc. (NASDAQ:NTGRFree Report) – Research analysts at Zacks Research upped their Q3 2024 EPS estimates for NETGEAR in a research report issued on Tuesday, February 6th. Zacks Research analyst V. Doshi now forecasts that the communications equipment provider will post earnings per share of $0.12 for the quarter, up from their prior forecast of $0.08. The consensus estimate for NETGEAR’s current full-year earnings is ($0.62) per share.

NETGEAR (NASDAQ:NTGRGet Free Report) last posted its earnings results on Wednesday, February 7th. The communications equipment provider reported $0.09 EPS for the quarter, beating the consensus estimate 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 company had revenue of $188.67 million for the quarter, compared to the consensus estimate of $185.14 million. During the same quarter in the prior year, the business earned ($0.21) earnings per share. The firm’s revenue for the quarter was down 24.3% on a year-over-year basis.

NTGR has been the topic of a number of other research reports. Raymond James reduced their target price on NETGEAR from $22.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, October 26th. StockNews.com raised NETGEAR from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th.

Read Our Latest Research Report on NETGEAR

NETGEAR Price Performance

NETGEAR stock opened at $13.20 on Wednesday. The stock’s fifty day moving average price is $14.38 and its two-hundred day moving average price is $13.21. NETGEAR has a one year low of $10.40 and a one year high of $19.57. The firm has a market cap of $390.85 million, a PE ratio of -3.57 and a beta of 0.81.

Insider Activity at NETGEAR

In other news, SVP Andrew Wonki Kim sold 5,519 shares of the business’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 value of $71,747.00. Following the transaction, the senior vice president now owns 104,933 shares in the company, valued at approximately $1,364,129. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related 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 value of $71,747.00. Following the transaction, the senior vice president now owns 104,933 shares in the company, valued at $1,364,129. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Vikram Mehta sold 1,844 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $14.48, for a total transaction of $26,701.12. Following the sale, the senior vice president now directly owns 25,569 shares in the company, valued at approximately $370,239.12. The disclosure for this sale can be found here. Insiders sold 20,450 shares of company stock valued at $285,989 in the last three months. Corporate insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC increased its stake in shares of NETGEAR by 309.1% during the second quarter. Quadrant Capital Group LLC now owns 1,968 shares of the communications equipment provider’s stock valued at $28,000 after purchasing an additional 1,487 shares in the last quarter. Osaic Holdings Inc. increased its stake in NETGEAR by 512.7% during the 2nd quarter. Osaic Holdings Inc. now owns 1,973 shares of the communications equipment provider’s stock valued at $28,000 after purchasing an additional 1,651 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of NETGEAR in the second quarter worth $31,000. Allspring Global Investments Holdings LLC increased its stake in shares of NETGEAR by 627.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,407 shares of the communications equipment provider’s stock worth $34,000 after acquiring an additional 2,076 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of NETGEAR by 138.3% in the second quarter. PNC Financial Services Group Inc. now owns 2,388 shares of the communications equipment provider’s stock worth $34,000 after acquiring an additional 1,386 shares during the period. 81.36% of the stock is currently owned by hedge funds and other institutional investors.

NETGEAR Company Profile

(Get Free Report)

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.

Further Reading

Earnings History and Estimates for NETGEAR (NASDAQ:NTGR)

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