NETGEAR (NASDAQ:NTGR) Sets New 1-Year Low – Should You Sell?

by · The Markets Daily

NETGEAR, Inc. (NASDAQ:NTGR – Get Free Report) shares reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $18.89 and last traded at $18.81, with a volume of 436,129 shares. The stock had previously closed at $22.32.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NTGR shares. Stifel Nicolaus decreased their price objective on shares of NETGEAR from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a research note on Monday, September 21st. Finally, Wall Street Zen upgraded NETGEAR from a “sell” rating to a “hold” rating in a report on Sunday, September 6th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $30.00.

Check Out Our Latest Stock Analysis on NETGEAR

NETGEAR Stock Down 0.8%

The firm has a market cap of $513.16 million, a P/E ratio of -15.60 and a beta of 1.22. The business’s 50 day moving average is $22.16 and its two-hundred day moving average is $22.92.

NETGEAR (NASDAQ:NTGR – Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The communications equipment provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.18. NETGEAR had a negative net margin of 3.71% and a negative return on equity of 2.79%. The business had revenue of $167.35 million during the quarter, compared to analysts’ expectations of $170.00 million. During the same period last year, the company posted $0.12 earnings per share. The business’s quarterly revenue was down 9.3% on a year-over-year basis. Equities research analysts anticipate that NETGEAR, Inc. will post -0.57 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of NETGEAR in the second quarter valued at approximately $82,799,000. Renaissance Technologies LLC lifted its holdings in shares of NETGEAR by 77.8% in the 1st quarter. Renaissance Technologies LLC now owns 557,462 shares of the communications equipment provider’s stock worth $12,175,000 after acquiring an additional 243,843 shares during the last quarter. Wellington Management Group LLP boosted its holdings in NETGEAR by 75.0% during the 2nd quarter. Wellington Management Group LLP now owns 428,011 shares of the communications equipment provider’s stock valued at $9,994,000 after acquiring an additional 183,495 shares during the period. Bank of America Corp DE grew its holdings in NETGEAR by 71.5% in the 1st quarter. Bank of America Corp DE now owns 240,730 shares of the communications equipment provider’s stock worth $5,258,000 after acquiring an additional 100,368 shares during the last quarter. Finally, Manatuck Hill Partners LLC bought a new stake in shares of NETGEAR in the second quarter worth about $3,736,000. 82.97% of the stock is owned by institutional investors.

NETGEAR Company Profile

(Get Free Report)

NETGEAR, Inc develops and sells networking products and connected technology for consumers, small and medium-sized businesses, and service providers. Its portfolio includes wireless routers, mesh Wi-Fi systems, cable and 5G modems, Wi-Fi extenders, network switches, wireless access points, and related connectivity products.

The company markets consumer products under brands such as Nighthawk and Orbi, while its business-oriented offerings include managed networking, switching, wireless access points, and cloud-based network management through the NETGEAR Insight platform.

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