NETGEAR (NASDAQ:NTGR) Receives “Neutral” Rating from BWS Financial

BWS Financial reaffirmed their neutral rating on shares of NETGEAR (NASDAQ:NTGR) in a report issued on Thursday morning, MarketBeat Ratings reports. BWS Financial currently has a $13.00 price objective on the communications equipment provider’s stock.

NETGEAR Price Performance

Shares of NASDAQ:NTGR opened at $11.63 on Thursday. The firm’s 50-day moving average is $14.79 and its two-hundred day moving average is $14.10. NETGEAR has a 1 year low of $10.40 and a 1 year high of $15.93. The firm has a market capitalization of $338.04 million, a PE ratio of -3.02 and a beta of 0.86.

NETGEAR (NASDAQ:NTGR) last released its earnings results on Wednesday, February 7th. The communications equipment provider reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.04. The firm had revenue of $188.67 million during the quarter, compared to analysts’ expectations of $185.14 million. NETGEAR had a negative return on equity of 3.73% and a negative net margin of 15.69%. NETGEAR’s revenue for the quarter was down 24.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.21) EPS. Analysts expect that NETGEAR will post -0.16 EPS for the current fiscal year.

Insider Transactions at NETGEAR

In other NETGEAR news, insider Andrew Wonki Kim sold 5,889 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.50, for a total transaction of $85,390.50. Following the sale, the insider now owns 88,001 shares of the company’s stock, valued at $1,276,014.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in NETGEAR in the 4th quarter valued at about $53,000. Allspring Global Investments Holdings LLC lifted its position in NETGEAR by 52.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,664 shares of the communications equipment provider’s stock valued at $46,000 after purchasing an additional 1,257 shares during the period. Tower Research Capital LLC TRC boosted its holdings in NETGEAR by 527.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,842 shares of the communications equipment provider’s stock valued at $100,000 after purchasing an additional 5,752 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in NETGEAR by 121.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,842 shares of the communications equipment provider’s stock worth $99,000 after purchasing an additional 4,295 shares during the period. Finally, Marquette Asset Management LLC purchased a new position in shares of NETGEAR during the 4th quarter worth approximately $126,000. Institutional investors and hedge funds 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.