NETGEAR, Inc. (NASDAQ:NTGR) Short Interest Up 23.1% in September

NETGEAR, Inc. (NASDAQ:NTGR) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 975,200 shares, an increase 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 presently 3.4 days. Approximately 3.7% of the company’s stock are sold short.

NETGEAR Trading Up 1.0 %

Shares of NTGR stock traded up $0.20 during trading hours on Monday, hitting $20.06. The company’s stock had a trading volume of 301,137 shares, compared to its average volume of 257,372. The company has a 50 day moving average of $16.89 and a 200 day moving average of $15.22. NETGEAR has a 12-month low of $10.40 and a 12-month high of $22.62. The stock has a market cap of $583.75 million, a PE ratio of -5.21 and a beta of 0.82.

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

Analyst Ratings Changes

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

Insider Activity

In other 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 sale, the director now owns 65,318 shares in the company, valued at approximately $1,306,360. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On NETGEAR

Large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC raised its position in shares of NETGEAR by 72.4% in the first quarter. Acadian Asset Management LLC now owns 622,936 shares of the communications equipment provider’s stock valued at $9,820,000 after buying an additional 261,705 shares during the last quarter. Brandes Investment Partners LP grew its holdings in shares of NETGEAR by 6.8% in the second quarter. Brandes Investment Partners LP now owns 3,896,492 shares of the communications equipment provider’s stock valued at $59,246,000 after purchasing an additional 247,162 shares during the period. American Century Companies Inc. boosted its stake in NETGEAR by 137.3% during the second quarter. American Century Companies Inc. now owns 353,893 shares of the communications equipment provider’s stock worth $5,415,000 after buying an additional 204,734 shares during the period. Vanguard Group Inc. boosted its stake in NETGEAR by 4.4% during the first quarter. Vanguard Group Inc. now owns 2,513,785 shares of the communications equipment provider’s stock worth $39,642,000 after buying an additional 105,994 shares during the period. Finally, Federated Hermes Inc. boosted its stake in NETGEAR by 125.0% during the second quarter. Federated Hermes Inc. now owns 127,892 shares of the communications equipment provider’s stock worth $1,957,000 after buying an additional 71,054 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.