The Vanguard Group, Inc. recently announced the acquisition of new stake in NETGEAR Inc. (NASDAQ:NTGR). The institutional investor has increased its shareholding in the Technology company by 4.05% to 3.26 million shares with purchase of 0.13 million shares. This fresh investment now brings its stake to 11.27% valued currently at $59.01 million. In addition, Dimensional Fund Advisors LP raised its holdings by 8187.0 to 1.85 million shares. And Geode Capital Management LLC has lifted its position by 0.30% or 1563.0 shares – to 0.52 million shares.
With over 0.11 million NETGEAR Inc. (NTGR) shares trading Monday and a closing price of $20.33 on the day, the dollar volume was approximately $2.16 million. The shares have shown a positive half year performance of 2.42% and its price on 01/23/23 gained nearly 3.83%. Currently, there are 28.89M common shares owned by the public and among those 28.06M shares have been available to trade.
The analysts have set the share’s price value over the next 12 months at a high of $30.00 and a low of $23.00. The average price target is 18.68% above its recent price level and an upside to the estimated low will see the stock gain 11.61% over that period. But an upside of 32.23% will see the stock hit the forecast high price target while median target price for the stock is $23.00.
Insiders at the company have transacted a total of 65 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 19 of these insider trades were purchases, accounting for 299,281 shares. Insider sales of the common stock occurred on 46 occasions, with total insider shares sold totaling 106,222 shares.
The top 3 mutual fund holders in NETGEAR Inc. are iShares Core S&P Small Cap ETF, Victory Sycamore Small Company Op, and Vanguard Total Stock Market Index. iShares Core S&P Small Cap ETF owns 2.14 million shares of the company’s stock, all valued at over $38.76 million. The company sold 1616.0 shares recently to bring their total holdings to about 7.41% of the shares outstanding. Victory Sycamore Small Company Op sold -0.19 million shares to see its total holdings shrink to 1.93 million shares valued at over $34.89 million and representing 6.67% of the shares outstanding. Vanguard Total Stock Market Index now owns shares totaling to 2.78% of the shares outstanding.
Shares of NETGEAR Inc. (NASDAQ: NTGR) opened at $19.65, up $0.07 from a prior closing price of $19.58. However, the script later moved the day high at 20.50, up 3.83%. The company’s stock has a 5-day price change of -0.64% and -0.59% over the past three months. NTGR shares are trading 12.26% year to date (YTD), with the 12-month market performance down to -25.86% lower. It has a 12-month low price of $17.40 and touched a high of $29.24 over the same period. NTGR has an average intraday trading volume of 141.90K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.22%, 5.10%, and -2.05% respectively.
Institutional ownership of NETGEAR Inc. (NASDAQ: NTGR) shares accounts for 93.10% of the company’s 28.89M shares outstanding. Mutual fund holders own 28.66%, while other institutional holders and individual stakeholders account for 58.91% and 11.72% respectively.
It has a market capitalization of $596.28M and a beta (3y monthly) value of 0.93. The earnings-per-share (ttm) stands at -$2.18. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.21% over the week and 3.00% over the month.
Analysts forecast that NETGEAR Inc. (NTGR) will achieve an EPS of $0.31 for the current quarter, -$0.16 for the next quarter and $0.78 for 2023. The lowest estimate earnings-per-share for the quarter is $0.25 while analysts give the company a high EPS estimate of $0.39. Comparatively, EPS for the current quarter was $0.5 a year ago. Earnings per share for the fiscal year are expected to decrease by -16.30%, and 244.10% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate NETGEAR Inc. (NTGR) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 2 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NTGR, a number of firms have released research notes about the stock. BWS Financial stated their Buy rating for the stock in a research note on July 28, 2022, with the firm’s price target at $30. BWS Financial coverage for the NETGEAR Inc. (NTGR) stock in a research note released on October 28, 2021 offered a Neutral rating with a price target of $30. Deutsche Bank was of a view on May 19, 2020 that the stock is Hold, while BWS Financial gave the stock Buy rating on March 30, 2020, issuing a price target of $33. BWS Financial on their part issued Hold rating on February 07, 2020.