Short Interest in NETGEAR, Inc. (NASDAQ:NTGR) Drops By 18.8%

NETGEAR, Inc. (NASDAQ:NTGR) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totalling 811,900 shares, a decline of 18.8% from the May 31st total of 1,000,000 shares. Based on an average trading volume of 245,400 shares, the short-interest ratio is presently 3.3 days. Currently, 3.0% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, BWS Financial reiterated a “neutral” rating and issued a $13.00 price objective on shares of NETGEAR in a report on Thursday, May 2nd.

Insiders Place Their Bets

In related news, Director Sarah Butterfass sold 5,626 shares of NETGEAR stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $13.36, for a total value of $75,163.36. Following the completion of the transaction, the director now directly owns 40,744 shares in the company, valued at $544,339.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Sarah Butterfass sold 5,626 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $13.36, for a total value of $75,163.36. Following the sale, the director now owns 40,744 shares of the company’s stock, valued at $544,339.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrew Wonki Kim sold 5,723 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $14.54, for a total transaction of $83,212.42. Following the transaction, the insider now owns 76,656 shares of the company’s stock, valued at approximately $1,114,578.24. The disclosure for this sale can be found here. Insiders sold a total of 29,967 shares of company stock worth $391,240 over the last 90 days. Corporate insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On NETGEAR

Hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC boosted its stake in NETGEAR by 72.4% during the 1st quarter. Acadian Asset Management LLC now owns 622,936 shares of the communications equipment provider’s stock worth $9,820,000 after purchasing an additional 261,705 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of NETGEAR by 66.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 440,030 shares of the communications equipment provider’s stock worth $5,540,000 after buying an additional 175,288 shares during the period. First Eagle Investment Management LLC acquired a new position in NETGEAR in the 4th quarter valued at about $1,713,000. Kennedy Capital Management LLC purchased a new stake in NETGEAR during the 3rd quarter valued at approximately $1,449,000. Finally, Walleye Capital LLC lifted its position in NETGEAR by 279.2% during the 3rd quarter. Walleye Capital LLC now owns 151,718 shares of the communications equipment provider’s stock worth $1,910,000 after acquiring an additional 111,713 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

NETGEAR Stock Up 3.9 %

NASDAQ NTGR opened at $15.30 on Friday. The firm’s fifty day moving average price is $13.74 and its 200 day moving average price is $14.33. NETGEAR has a 12 month low of $10.40 and a 12 month high of $15.93.

NETGEAR (NASDAQ:NTGR) last posted its earnings results on Wednesday, May 1st. The communications equipment provider reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.04). The firm had revenue of $164.59 million for the quarter, compared to analyst estimates of $163.86 million. NETGEAR had a negative return on equity of 3.73% and a negative net margin of 15.69%. Equities analysts anticipate that NETGEAR will post -2.02 EPS for the current year.

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.