Welcome to our dedicated page for NETGEAR news (Ticker: NTGR), a resource for investors and traders seeking the latest updates and insights on NETGEAR stock.
NETGEAR, Inc. (NASDAQ: NTGR) is a leading global provider of innovative networking products that empower homes and businesses. Headquartered in San Jose, California, NETGEAR focuses on delivering superior performance, easy-to-use, and smart networking solutions. The company's core segments include Connected Home and Small and Medium Businesses (SMB).
For the Connected Home, NETGEAR offers advanced wireless internet connectivity, superior streaming, remote home video monitoring, and storage solutions. Products like the Orbi Voice smart speakers and Meural digital canvas are designed to enhance the digital lifestyle, providing high-performance, reliable, and user-friendly network solutions.
In the SMB segment, NETGEAR specializes in networking solutions tailored for small to mid-sized businesses. Their offerings include wireless LAN, Pro AV applications for audio and video over Ethernet, security solutions, and remote management tools. These solutions ensure businesses can share access and ideas safely, connect remote locations securely, and grow with confidence.
Recent achievements highlight NETGEAR's commitment to innovation, including the launch of new Wi-Fi 6 routers and 5G mobile hotspots, expanding the capabilities of their networking technology. Partnerships with leading tech companies further enhance their product offerings and market reach.
Financially, NETGEAR continues to perform well, with a strong presence in the networking market and a commitment to advancing technology. The company's focus on research and development ensures they stay ahead in a rapidly evolving industry.
NETGEAR’s mission is to make your online experience seamless, whether at home or in a business setting. With a dedication to quality and customer satisfaction, NETGEAR remains a significant player in the networking solutions market, poised for continued growth and innovation.
Mynd Immersive and the CTA Foundation have launched the Great American Elderverse™ program, supported by major tech companies and the Steven & Alexandra Cohen Foundation. This initiative aims to provide immersive content and technology to underserved seniors across the United States, enhancing their quality of life through virtual experiences and therapeutics.
The program will initially cover 60 communities in the tri-state area, with plans to expand nationwide throughout 2024 and 2025. Key partners include AT&T (5G service), HTC VIVE (immersive glasses), NETGEAR (WiFi hotspots), and Select Rehabilitation (clinical leadership). The initiative is based on research showing significant benefits of Immersive Therapeutics (ITx) for seniors, including decreased isolation, improved mood, and better relationships with caregivers.
NETGEAR (NASDAQ: NTGR) has announced several new additions to its leadership team, following the appointment of CJ Prober as CEO earlier this year. The new appointments include:
- Laura Orvidas joining the Board of Directors
- Pramod Badjate as President and GM of NETGEAR for Business
- Kirsten Daru as General Counsel and Chief Privacy Officer
- Fiona Spratt as Senior Vice President of People
- Antonio López Reus as Vice President of Strategy and Strategic Partnerships
These new leaders bring extensive experience from companies like Amazon, Cisco, and Electronic Arts. CEO CJ Prober stated that these executives will be instrumental in supporting the transformation of NETGEAR's businesses and driving long-term value creation for shareholders.
NETGEAR (NASDAQ: NTGR), a leading provider of innovative and secure digital connectivity solutions, has announced its upcoming second quarter 2024 results conference call. The call is scheduled for Wednesday, July 31 at 5:00 p.m. ET (2:00 p.m. PT). Investors and analysts can participate in the live audio call using the toll-free number (888) 660-6392 for domestic callers or (929) 203-0899 for international callers, with the conference ID 1030183.
The company will release its Q2 2024 results after market close on July 31, 2024. During the call, NETGEAR will discuss these results and provide an outlook for the third quarter of 2024. A live webcast and replay of the conference call will be available on NETGEAR's Investor Relations website at https://investor.netgear.com.
NETGEAR (NASDAQ: NTGR) has expanded its WiFi 7 product lineup by introducing the Orbi 770 Tri-band Mesh System and Nighthawk RS300 Router. These new devices offer higher speed, lower latency, and better handling of WiFi interference. The Orbi 770 covers up to 8,000 sq. ft. with speeds up to 11Gbps, while the Nighthawk RS300 covers 2,500 sq. ft. with speeds up to 9.3Gbps. Both products feature advanced security measures, including NETGEAR Armor and Smart Parental Controls. The Orbi 770 series is available for pre-order with packages starting at $699.99, and the Nighthawk RS300 is available at $329.99.
NETGEAR announced inducement equity awards on May 30, 2024, for newly-hired General Counsel and Chief Privacy Officer, Kirsten Daru, and VP of Strategy & Partnership, Antonio Lopez Reus.
The awards were granted under Nasdaq Listing Rule 5635(c)(4) and include time-based restricted stock units (RSUs) and performance-based RSUs.
Kirsten Daru received 101,250 time-based RSUs and 33,750 performance-based RSUs, while Antonio Lopez Reus received 58,479 time-based RSUs.
Vesting schedules involve annual and quarterly installments, contingent upon continued service, with performance metrics tied to NETGEAR’s total shareholder return compared to the Nasdaq Telecommunications Index.
On May 30, 2024, Administrative Law Judge Doris Johnson Hines of the U.S. International Trade Commission (ITC) ruled that TP-Link violated U.S. trade laws by importing and selling Wi-Fi devices that infringe on NETGEAR's patents. This ruling stems from a complaint filed by NETGEAR in April 2023. The ITC investigation, assigned on May 8, 2023, concluded that TP-Link's products infringe NETGEAR's U.S. Patent Nos. 7,936,714 and 10,681,698.
The ALJ recommended issuing a Exclusion Order to U.S. Customs and Border Protection and a Cease and Desist Order against TP-Link. The full Commission is scheduled to review and issue its Final Determination by October 3, 2024. NETGEAR's Chief Legal Officer, Andrew Kim, expressed satisfaction with the Initial Determination and reaffirmed the company's commitment to protecting its intellectual property.
Windward Management has issued a letter to NETGEAR's board, recommending a share repurchase of at least 25%, equating to around $100 million, and the formation of a strategic review committee to consider splitting or selling the NFB segment. Windward highlights NETGEAR's robust cash position, with $289 million in cash and short-term investments against a market capitalization of $370 million. Despite a challenging environment, Windward believes NETGEAR's upcoming WiFi 7 upgrade cycle, normalized inventory levels, and strong market leadership in consumer WiFi (35% share) could significantly enhance shareholder value. They predict a 150% upside for shares over the next 12-18 months.
NETGEAR, Inc. reported Q1 2024 results with net revenue of $164.6 million, above guidance midpoint, but a decrease of 9.0% from the prior year. The company faced challenges due to high inflation and low channel inventories, resulting in an operating loss. Despite the short-term impact on profitability, NETGEAR plans to expedite destocking in Q2 and align revenue with sell-through to ensure long-term growth and profitability. The company aims to emerge stronger in the second half of 2024 by focusing on strategic adjustments and improving channel efficiency.
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