Netgear rockets to 9-month high after raising revenue outlook

NetGear

12/09/2024 15:57

** Netgear  NTGR.O  shares up 33.6%, on track for biggest daily
pct gain on record, to $21.30
    ** Shares of the home networking company had earlier risen
as much as $21.63, its highest level since Dec. 13
    ** NTGR disclosed in an SEC filing late Wed that it had
reached a settlement agreement regarding all pending patent
litigation, and boosted its Q3 revenue guidance from between
$160 mln to $174 mln to between $170 mln to $180 mln 
    ** Also sees Q3 GAAP operating margin between 48%-51% vs
prior guidance of a negative 15.2% to a negative 12.3% 
    ** Raymond James raised its price target on the stock to $22
from $17 on Thursday  
    ** NTGR shares now up 45.5% YTD 







 (Reporting by Chuck Mikolajczak)
 ((charles.mikolajczak@tr.com; @ChuckMik;))