NetGear (NTGR) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $0.72 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.12. Analysts had a consensus of $0.60. The company posted revenue of $311.66 million in the period, 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.
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.
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 19, 2016, Michael F Falcon (SVP, Operations) sold 521 shares at $49.75 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 12, 2016, Michael A Werdann (SVP of Worldwide Sales) sold 1,348 shares at $49.54 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.