NETGEAR (NASDAQ:NTGR) Shares Gap Up to $20.84

NETGEAR, Inc. (NASDAQ:NTGR) shares gapped up prior to trading on Friday . The stock had previously closed at $20.84, but opened at $21.55. NETGEAR shares last traded at $21.82, with a volume of 77,295 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of NETGEAR from a “hold” rating to a “buy” rating in a research note on Monday, September 9th.

NETGEAR Price Performance

The company has a market cap of $638.45 million, a PE ratio of -5.70 and a beta of 0.82. The stock has a 50 day simple moving average of $15.81 and a two-hundred day simple moving average of $14.82.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings results on Wednesday, July 31st. The communications equipment provider reported ($0.94) EPS for the quarter, meeting 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 firm had revenue of $143.90 million during the quarter, compared to the consensus estimate of $132.69 million. As a group, equities analysts anticipate that NETGEAR, Inc. will post -2.29 EPS for the current fiscal year.

Insider Buying and Selling

In other NETGEAR news, Director Thomas H. Waechter sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $20.00, for a total transaction of $50,000.00. Following the completion of the sale, the director now directly owns 65,318 shares of the company’s stock, valued at approximately $1,306,360. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On NETGEAR

A number of large investors have recently bought and sold shares of NTGR. Price T Rowe Associates Inc. MD boosted its holdings in shares of NETGEAR by 3.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 37,779 shares of the communications equipment provider’s stock valued at $596,000 after acquiring an additional 1,247 shares in the last quarter. Rhumbline Advisers boosted its holdings in NETGEAR by 4.2% in the 2nd quarter. Rhumbline Advisers now owns 47,101 shares of the communications equipment provider’s stock valued at $721,000 after purchasing an additional 1,904 shares in the last quarter. Headlands Technologies LLC acquired a new position in NETGEAR during the 1st quarter worth approximately $30,000. Donald Smith & CO. Inc. raised its stake in shares of NETGEAR by 0.7% during the 1st quarter. Donald Smith & CO. Inc. now owns 294,200 shares of the communications equipment provider’s stock worth $4,640,000 after buying an additional 2,008 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of NETGEAR in the 4th quarter valued at approximately $53,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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.