Short Interest in NETGEAR, Inc. (NASDAQ:NTGR) Expands By 23.1%

NETGEAR, Inc. (NASDAQ:NTGR) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totalling 975,200 shares, a growth of 23.1% from the August 31st total of 792,300 shares. Based on an average daily volume of 284,000 shares, the days-to-cover ratio is currently 3.4 days. Approximately 3.7% of the company’s stock are short sold.

NETGEAR Price Performance

NASDAQ:NTGR traded up $0.04 during midday trading on Monday, hitting $19.90. The company’s stock had a trading volume of 3,710 shares, compared to its average volume of 255,790. NETGEAR has a fifty-two week low of $10.40 and a fifty-two week high of $22.62. The firm’s 50 day moving average is $16.89 and its 200-day moving average is $15.22. The firm has a market cap of $579.09 million, a P/E ratio of -5.16 and a beta of 0.82.

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other NETGEAR news, Director Thomas H. Waechter sold 2,500 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.00, for a total value of $50,000.00. Following the completion of the transaction, the director now directly owns 65,318 shares in the company, valued at $1,306,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NETGEAR

Several hedge funds have recently bought and sold shares of NTGR. Acadian Asset Management LLC boosted its position in NETGEAR by 72.4% in 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 in the last quarter. Brandes Investment Partners LP boosted its position in NETGEAR by 6.8% in the 2nd quarter. Brandes Investment Partners LP now owns 3,896,492 shares of the communications equipment provider’s stock worth $59,246,000 after purchasing an additional 247,162 shares in the last quarter. American Century Companies Inc. boosted its position in NETGEAR by 137.3% in the 2nd quarter. American Century Companies Inc. now owns 353,893 shares of the communications equipment provider’s stock worth $5,415,000 after purchasing an additional 204,734 shares in the last quarter. Vanguard Group Inc. boosted its position in NETGEAR by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 2,513,785 shares of the communications equipment provider’s stock worth $39,642,000 after purchasing an additional 105,994 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in NETGEAR by 125.0% in the 2nd quarter. Federated Hermes Inc. now owns 127,892 shares of the communications equipment provider’s stock worth $1,957,000 after purchasing an additional 71,054 shares in the last quarter. Hedge funds and other institutional investors 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.