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

NETGEAR, Inc. (NASDAQ:NTGR) saw a large 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. Approximately 3.7% of the company’s stock are short sold. Based on an average daily volume of 284,000 shares, the days-to-cover ratio is currently 3.4 days.

NETGEAR Price Performance

NASDAQ:NTGR traded up $0.20 during trading hours on Monday, hitting $20.06. The stock had a trading volume of 301,137 shares, compared to its average volume of 257,372. The company has a 50 day simple moving average of $16.89 and a two-hundred day simple moving average of $15.22. NETGEAR has a one year low of $10.40 and a one year high of $22.62. The firm has a market capitalization of $583.75 million, a price-to-earnings ratio of -5.21 and a beta of 0.82.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings data 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 company had revenue of $143.90 million during 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%. Equities research analysts anticipate that NETGEAR will post -2.11 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Transactions at NETGEAR

In related news, Director Thomas H. Waechter sold 2,500 shares of the firm’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 transaction, the director now owns 65,318 shares of the company’s stock, valued at approximately $1,306,360. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On NETGEAR

Hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC increased its position in shares of NETGEAR by 72.4% during 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 period. Brandes Investment Partners LP grew its holdings in shares of NETGEAR by 6.8% during 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 buying an additional 247,162 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of NETGEAR by 137.3% during the second quarter. American Century Companies Inc. now owns 353,893 shares of the communications equipment provider’s stock valued at $5,415,000 after buying an additional 204,734 shares during the last quarter. Vanguard Group Inc. boosted its holdings in NETGEAR by 4.4% in the first 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 during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in NETGEAR by 125.0% in the second 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 during the last quarter. 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.