NETGEAR, Inc. (NASDAQ:NTGR) Sees Significant Increase in Short Interest

NETGEAR, Inc. (NASDAQ:NTGR) saw a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 940,400 shares, a growth of 18.1% from the January 15th total of 796,300 shares. Approximately 3.6% of the company’s stock are short sold. Based on an average daily volume of 384,100 shares, the short-interest ratio is currently 2.4 days.

NETGEAR Price Performance

Shares of NASDAQ NTGR traded down $0.96 during trading hours on Monday, hitting $28.46. 319,499 shares of the stock were exchanged, compared to its average volume of 352,504. The company’s 50 day moving average is $27.39 and its 200 day moving average is $22.61. The firm has a market capitalization of $818.79 million, a P/E ratio of 71.15 and a beta of 0.83. NETGEAR has a one year low of $10.48 and a one year high of $31.55.

NETGEAR (NASDAQ:NTGR) last issued its quarterly earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.24). NETGEAR had a net margin of 1.83% and a negative return on equity of 9.24%. Research analysts anticipate that NETGEAR will post -1.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on NTGR. StockNews.com raised shares of NETGEAR from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Raymond James upped their price target on shares of NETGEAR from $22.00 to $29.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th.

Insider Transactions at NETGEAR

In other NETGEAR news, Director Thomas H. Waechter sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $30.42, for a total value of $60,840.00. Following the completion of the transaction, the director now owns 61,135 shares in the company, valued at approximately $1,859,726.70. This represents a 3.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On NETGEAR

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership boosted its stake in NETGEAR by 126.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 675,209 shares of the communications equipment provider’s stock worth $18,818,000 after acquiring an additional 376,974 shares during the last quarter. Portolan Capital Management LLC bought a new position in NETGEAR in the fourth quarter valued at approximately $5,357,000. American Century Companies Inc. lifted its stake in NETGEAR by 31.6% in the fourth quarter. American Century Companies Inc. now owns 770,464 shares of the communications equipment provider’s stock valued at $21,473,000 after buying an additional 184,863 shares in the last quarter. Tenzing Global Management LLC acquired a new stake in shares of NETGEAR in the third quarter valued at approximately $3,510,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of NETGEAR in the fourth quarter valued at approximately $4,449,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

About NETGEAR

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.