NetGear (NTGR) was Reiterated by BWS Financial to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 64 from a previous price target of $50 . BWS Financial advised their investors in a research report released on Jul 28, 2016.
Many Wall Street Analysts have commented on NetGear. Rosenblatt Downgraded NetGear on Jul 12, 2016 to ” Neutral”, Price Target of the shares are set at $47.50.Wunderlich Initiated NetGear on Jun 8, 2016 to “Buy”, Price Target of the shares are set at $55.
On the company’s financial health, NetGear reported $0.72 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.60. The company had revenue of $311.66 million for the quarter, compared to analysts expectations of $298.80 million. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS.
NetGear opened for trading at $52 and hit $52.53 on the upside on Thursday, eventually ending the session at $52.35, with a gain of 7.06% or 3.45 points. The heightened volatility saw the trading volume jump to 8,70,043 shares. Company has a market cap of $1,705 M.
In a different news, on Jul 27, 2016, Patrick J Iii Collins (SVP, Arlo Smart Home Devices) sold 11,061 shares at $48.91 per share price. According to the SEC, on Jul 19, 2016, Christine Marie Gorjanc (Chief Financial Officer) sold 7,329 shares at $50.05 per share price. On Jul 19, 2016, Michael F Falcon (SVP, Operations) sold 521 shares at $49.75 per share price, according to the Form-4 filing with the securities and exchange commission.
NETGEAR Inc. is a global networking company. The Companys product line consists of devices such as network attached storage Internet protocol security cameras and home automation devices and services. The Companys business is managed in three business segments: 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 provider business unit consists of home networking hardware and software solutions as well as fourth-generation long term evolution hotspots sold to service providers. The Company has operations in Americas Europe Middle-East and Africa and Asia Pacific. It sells products through multiple sales channels including traditional retailers online retailers wholesale distributors direct market resellers value-added resellers and broadband service providers.