NETGEAR, Inc. (NASDAQ:NTGR) Short Interest Update

NETGEAR, Inc. (NASDAQ:NTGR) was the recipient of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 697,400 shares, a decrease of 28.5% from the September 15th total of 975,200 shares. Currently, 2.6% of the shares of the stock are short sold. Based on an average trading volume of 297,000 shares, the days-to-cover ratio is presently 2.3 days.

NETGEAR Trading Up 4.9 %

NTGR traded up $0.98 during midday trading on Friday, reaching $20.85. The company’s stock had a trading volume of 225,160 shares, compared to its average volume of 257,736. The stock’s 50-day moving average is $17.62 and its 200-day moving average is $15.52. The firm has a market capitalization of $597.98 million, a price-to-earnings ratio of -4.07 and a beta of 0.83. NETGEAR has a 1 year low of $10.40 and a 1 year high of $22.62.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings results on Wednesday, July 31st. The communications equipment provider reported ($0.94) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.94). NETGEAR had a negative net margin of 21.62% and a negative return on equity of 7.52%. The business had revenue of $143.90 million for the quarter, compared to analyst estimates of $132.69 million. As a group, equities research analysts forecast that NETGEAR will post -2.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Thomas H. Waechter sold 2,500 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $20.00, for a total transaction of $50,000.00. Following the transaction, the director now directly owns 65,318 shares of the company’s stock, valued at approximately $1,306,360. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NETGEAR

Large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of NETGEAR by 3.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 37,779 shares of the communications equipment provider’s stock worth $596,000 after buying an additional 1,247 shares during the last quarter. Rhumbline Advisers lifted its stake in NETGEAR by 4.2% during the second quarter. Rhumbline Advisers now owns 47,101 shares of the communications equipment provider’s stock valued at $721,000 after buying an additional 1,904 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of NETGEAR during the first quarter worth $30,000. Donald Smith & CO. Inc. grew its holdings in NETGEAR by 0.7% during the first quarter. Donald Smith & CO. Inc. now owns 294,200 shares of the communications equipment provider’s stock valued at $4,640,000 after purchasing an additional 2,008 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of NETGEAR by 7.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,180 shares of the communications equipment provider’s stock worth $1,190,000 after acquiring an additional 4,816 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered NETGEAR from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th.

NETGEAR Company Profile

NETGEAR, Inc provides connectivity solutions the Americas; Europe, the Middle East, Africa; and the Asia Pacific. The company operates in two segments, Connected Home, and NETGEAR for Business. The Connected Home segment offers Wi-Fi routers and home Wi-Fi mesh systems, Wi-Fi hotspots, digital displays, broadband modems, Wi-Fi gateways, Wi-Fi range extenders, powerline adapters, and Wi-Fi network adapters; and provides value-added service offerings, including security and privacy, technical support, and parental controls.