Rosenblatt Downgrades NetGear to Neutral

Brokerage firm Rosenblatt Downgrades its rating on NetGear(NASDAQ:NTGR). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Rosenblatt was issued on Jul 12, 2016.

In a different note, Wunderlich said it Initiates Coverage on NetGear, according to a research note issued on Jun 8, 2016. The shares have been rated ‘Buy’ by the firm.

NetGear (NTGR) made into the market gainers list on Fridays trading session with the shares advancing 0.32% or 0.16 points. Due to strong positive momentum, the stock ended at $49.5, which is also near the day’s high of $49.7. The stock began the session at $49.59 and the volume stood at 1,81,020 shares. The 52-week high of the shares is $49.98 and the 52 week low is $28.12. The company has a current market capitalization of $1,612 M and it has 3,25,65,171 shares in outstanding.

NetGear(NTGR) last announced its earnings results on Apr 27, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $310.26M. Analysts had an estimated revenue of $298.59M. Earnings per share were $0.74. Analysts had estimated an EPS of $0.60.

Several Insider Transactions has been reported to the SEC. On Jul 5, 2016, Andrew Wonki Kim (SVP, Legal and Corp. Dev.) sold 1,092 shares at $47.08 per share price.Also, On Jul 5, 2016, Michael F Falcon (SVP, Operations) sold 1,040 shares at $47.70 per share price.On Jul 1, 2016, Patrick Cs Lo (Chairman and CEO) sold 8,300 shares at $47.08 per share price, according to the Form-4 filing with the securities and exchange commission.

NETGEAR Inc. is a global networking company. The Company’s product line consists of devices such as network attached storage Internet protocol security cameras and home automation devices and services. The Company’s 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.

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