The stock of NetGear, Inc. (NASDAQ:NTGR) is a huge mover today! The stock decreased 3.42% or $2.07 during the last trading session, hitting $58.42. About 401,250 shares traded hands or 55.72% up from the average. NetGear, Inc. (NASDAQ:NTGR) has risen 44.50% since March 1, 2016 and is uptrending. It has outperformed by 32.28% the S&P500.
The move comes after 6 months negative chart setup for the $1.94B company. It was reported on Oct, 4 by Barchart.com. We have $53.75 PT which if reached, will make NASDAQ:NTGR worth $155.20M less.
Analysts await NetGear, Inc. (NASDAQ:NTGR) to report earnings on October, 27. They expect $0.63 EPS, up 8.62% or $0.05 from last year’s $0.58 per share. NTGR’s profit will be $20.92 million for 23.18 P/E if the $0.63 EPS becomes a reality. After $0.61 actual EPS reported by NetGear, Inc. for the previous quarter, Wall Street now forecasts 3.28% EPS growth.
NetGear, Inc. (NASDAQ:NTGR) Ratings Coverage
Out of 5 analysts covering Netgear (NASDAQ:NTGR), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. Netgear has been the topic of 7 analyst reports since October 23, 2015 according to StockzIntelligence Inc. Rosenblatt maintained the stock with “Buy” rating in Tuesday, February 9 report. Rosenblatt upgraded the shares of NTGR in a report on Tuesday, October 27 to “Buy” rating. The firm has “Sector Perform” rating by RBC Capital Markets given on Tuesday, November 17. The stock has “Outperform” rating given by Raymond James on Friday, October 23. Wunderlich maintained the stock with “Buy” rating in Thursday, September 8 report. As per Wednesday, June 8, the company rating was initiated by Wunderlich. The stock has “Neutral” rating given by Sterne Agee CRT on Tuesday, April 5.
According to Zacks Investment Research, “Netgear Inc designs technologically advanced, branded networking products that address the specific needs of small business and home users. The company’s suite of products enables users to share Internet access, peripherals, files, digital multimedia content and applications among multiple personal computers and other Internet-enabled devices.”
Insitutional Activity: The institutional sentiment increased to 1.46 in 2016 Q2. Its up 0.06, from 1.4 in 2016Q1. The ratio is positive, as 17 funds sold all NetGear, Inc. shares owned while 54 reduced positions. 28 funds bought stakes while 76 increased positions. They now own 31.39 million shares or 8.10% less from 34.16 million shares in 2016Q1.
Aperio Group Limited Liability Corporation last reported 0% of its portfolio in the stock. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Invest Mgmt Corp, a Alberta – Canada-based fund reported 27,300 shares. Paloma Prtnrs Mngmt Co accumulated 0.01% or 19,803 shares. Royal State Bank Of Canada holds 0% of its portfolio in NetGear, Inc. (NASDAQ:NTGR) for 5,740 shares. The New York-based Cornerstone Cap Mgmt Hldg Ltd Co has invested 0.04% in NetGear, Inc. (NASDAQ:NTGR). Pnc Serv Gp last reported 0% of its portfolio in the stock. Qci Asset Management Ny, a New York-based fund reported 525 shares. Sei Invs Company holds 0.01% or 43,733 shares in its portfolio. D E Shaw accumulated 344,669 shares or 0.03% of the stock. Profund Advsr Lc holds 0.05% or 21,816 shares in its portfolio. Citadel Advsr reported 38,258 shares or 0% of all its holdings. Proshare Limited Liability Company has 0% invested in the company for 4,689 shares. Cap One National Association holds 0.04% or 11,278 shares in its portfolio. The Colorado-based Ghp Advsr has invested 0.22% in NetGear, Inc. (NASDAQ:NTGR). Bogle Investment Management Ltd Partnership De reported 148,184 shares or 0.49% of all its holdings.
Insider Transactions: Since April 12, 2016, the stock had 0 buys, and 48 selling transactions for $12.77 million net activity. On Tuesday, August 2 the insider Collins Patrick J III sold $19,815. Shares for $120,511 were sold by FALCON MICHAEL F. 13,900 NetGear, Inc. (NASDAQ:NTGR) shares with value of $579,684 were sold by LO PATRICK CS. Gorjanc Christine Marie sold 6,365 shares worth $326,143. Rogers Tamesa sold $28,295 worth of NetGear, Inc. (NASDAQ:NTGR) on Friday, April 29. On Friday, July 1 the insider Kim Andrew Wonki sold $51,411. Graham Jef also sold $246,000 worth of NetGear, Inc. (NASDAQ:NTGR) shares.
More notable recent NetGear, Inc. (NASDAQ:NTGR) news were published by: Fool.com which released: “Netgear, Inc. Goes 4 for 4” on April 28, 2016, also Fool.com with their article: “Why Netgear Inc. Stock Skyrocketed Friday” published on October 23, 2015, Fool.com published: “Netgear, Inc. Connects With a Beat Despite Service Provider Weakness” on July 28, 2016. More interesting news about NetGear, Inc. (NASDAQ:NTGR) were released by: Fool.com and their article: “Here’s What Drove Netgear, Inc.’s Latest Stellar Quarter” published on October 24, 2015 as well as Fool.com‘s news article titled: “Why Netgear, Inc. Stock Popped 41.9% in October” with publication date: November 09, 2015.
NTGR Company Profile
NETGEAR, Inc., incorporated on January 8, 1996, is a global networking firm that delivers products to consumers, businesses and service providers. The Company’s product line consists of devices, such as network attached storage, Internet protocol (IP) security cameras, and home automation devices and services. The Company’s divisions include retail, commercial and service provider. The retail business unit consists of home networking, home video security, storage and digital media products. The commercial business unit consists of business networking, storage and security solutions. The service well-known provider business unit consists of whole home networking hardware and software solutions, as well as fourth-generation (4G) long term evolution (LTE) hotspots sold to service providers for sale to their subscribers. The Firm has activities in the Americas, Europe, Middle-East and Africa (EMEA) and Asia Pacific (APAC). The Firm sells its products through multiple sales channels, including traditional retailers, online retailers, wholesale distributors, direct market resellers (DMRs), value-added resellers (VARs) and broadband service providers. The Company’s distribution channel supplies its products to retailers, e-commerce resellers, DMRs, VARs and broadband service providers.
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