Wed, Apr. 27, 5:36 PM
Oct. 23, 2015, 12:46 PM
Oct. 22, 2015, 5:37 PM
Jul. 24, 2015, 12:45 PM
Jul. 24, 2015, 12:42 PM
- In addition to beating Q2 revenue estimates (while slightly missing on EPS), Netgear (NASDAQ:NTGR) has guided for Q3 revenue of $315M-$330M, above a $302.1M consensus. Op. margin is expected to rise to 8.5%-9.5% from Q2's 7.1%.
- Also: Netgear's board has authorized a 3M-share buyback program, good for repurchasing 9.3% of shares outstanding at the end of Q2. $76.2M was spent to buy back 2.5M shares in Q2.
- Arlo home security camera and Nighthawk router/gateway sales continued providing a lift to Netgear's consumer/retail ops in Q2. EMEA business sales (hurt by a strong dollar) were weak, and the restructuring of Netgear's service provider ops neared completion.
- Key numbers: Pressuring EPS: Gross margin (non-GAAP) fell 180 bps Q/Q and Y/Y to 27.9%. GAAP operating expenses fell 8% Y/Y to $66.5M. Netgear ended Q2 with $6.21/share in cash/short-term investments. Retail/consumer sales were 45% of revenue, commercial 22%, and service provider 33%.
- Q2 results, PR
Apr. 24, 2015, 10:50 AM
- Though Netgear (NASDAQ:NTGR) beat Q1 revenue estimates (while missing on EPS), it's guiding for Q2 revenue of $270M-$285M, below a $300.4M consensus. Op. margin (non-GAAP) is expected to be in a range of 6%-7%, down from Q1's 9.2.
- The networking hardware vendor notes a strong dollar is expected to hurt Q2 sales, and that its service provider product unit (SPBU) is expected to "continue to align with our restructuring plan." It expects a 2H15 demand pickup thanks to seasonality, the end of the SPBU restructuring, and global distribution of Netgear's Arlo home security cameras (they compete against Dropcam and others).
- Q1 results, PR
Mar. 12, 2015, 9:54 AM
- Raymond James has downgraded Garmin (GRMN -2.2%) and Netgear (NTGR -0.9%) to Underperform.
- Regarding Garmin, RJ is worried about a strong dollar, high valuation, and possible estimate cuts. The navigation hardware vendor sold off hard in February due to the soft 2015 guidance provided with mixed Q4 results, and hasn't yet recovered.
- Netgear also sold off last month due to its guidance. Goldman upgraded 3 days ago.
Mar. 9, 2015, 10:51 AM
- Arguing the company's valuation is now more reasonable, Goldman has upgraded Netgear (NASDAQ:NTGR) to Neutral. The firm's target is at $32.
- The Wi-Fi/Ethernet hardware vendor's shares dove last month due to the soft Q1 guidance (blamed on weak service provider demand) accompanying its Q4 beat. They've largely traded in the $30s for the last 3 years.
Feb. 5, 2015, 5:35 PM
Jul. 24, 2014, 5:45 PM
Feb. 6, 2014, 4:20 PM
- NETGEAR, Inc. (NTGR): Q4 EPS of $0.59 beats by $0.04.
- Revenue of $356.6M (+14.9% Y/Y) beats by $8.7M.
- Shares +2.5%.
Nov. 11, 2013, 8:41 AM
- Twitter (TWTR) has been started at Neutral by Sterne Agee. Shares -1.4% premarket after dropping 7% on Friday in the wake of neutral/bearish coverage launches. Shares still +58% from their $26 IPO price.
- Veeva Systems (VEEV) has received four bullish ratings and two neutral ones on underwriter coverage day. Shares +0.6%.
- American Tower (AMT) has been upgraded to Buy by Citi.
- Youku (YOKU) has been upgraded to Buy by Brean ahead of Thursday's Q3 report. Shares +3.1%.
- BT has been upgraded to Overweight by JPMorgan after outbidding Sky for the U.K. TV rights to Champions League games.
- Netgear (NTGR) has been upgraded to Sector Perform by RBC.
- Deutsche Telekom (DTEGY, DTEGF) has been cut to Sell by Goldman after striking a $729M deal to buy wireline carrier GTS Central Europe.
- Lam Research (LRCX) has been cut to Neutral by Susquehanna.
- Diodes (DIOD) has been cut to Outperform from Strong Buy by Raymond James ahead of tomorrow's Q3 report.
Oct. 24, 2013, 5:05 PM
- Netgear (NTGR) shares tumble 7.6% AH after the company beat estimates in Q3 but issued light Q4 guidance.
- Gross margin continued falling to 28.9% from 29.8% in Q2 and 31.6% in Q3 2012.
- Management guides for revenue of $340M-$355M in Q4, well below consensus expectations of $368.7M. Operating margin is seen at 9.5%-10.5%.
- PR, Conference call at 5pm ET
Jul. 26, 2013, 11:14 AM
Netgear's (NTGR -9.6%) Q2 results were "solid," RBC Capital says, but downside Q3 revenue guidance prompts the firm to downgrade shares to Underperform with a $27 price target. "The core business is deteriorating and its recently acquired assets are not yet providing the synergistic wins on the carrier side," RBC says, and guidance implies further weakness; Europe, -8% Y/Y, also is weighing.| Jul. 26, 2013, 11:14 AM
Jun. 26, 2013, 9:41 AMTech ratings change roundup: 1) Mellanox (MLNX +2.7%) has been upgraded to Buy by Stifel. 2) NetGear (NTGR -4.6%) has been downgraded to Sell by Goldman. 3) ARM (ARMH +1.1%) has been upgraded to Buy by Benchmark, and to Overweight by Piper. 4) Rackspace (RAX +5%) has been upgraded to Outperform by Wells Fargo. 5) Splunk (SPLK +1.9%) has been started at Outperform by Wedbush. 6) Allot (ALLT +3.7%) has been upgraded to Outperform by Wedbush, and to Buy by Wunderlich. 7) Rubicon (RBCN -3.3%) has been downgraded to Neutral by JPMorgan. 8) Orbitz (OWW +4.1%) has been started at Buy by Ascendiant Capital. 9) Lam Research (LRCX -1.4%) has been upgraded to Buy by BofA/Merrill. 10) Adobe (ADBE +2.4%) has been upgraded to Buy by Jefferies. | Jun. 26, 2013, 9:41 AM
Jun. 21, 2013, 10:01 AM
NetGear's (NTGR +2.7%) bad news is priced in and its hardware sales will benefit from the adoption of the new 802.11ac Wi-Fi standard, argues Wedbush's Rohit Chopra, who's upgrading shares to Outperform. Chopra also sees the expected launch of 802.11ac-capable iPhones and iPads giving NetGear a boost. Shares still -17% YTD.| Jun. 21, 2013, 10:01 AM