NetGear, Inc. (NASDAQ:NTGR) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 3,080,000 shares, an increase of 10.8% from the August 15th total of 2,780,000 shares. Approximately 10.3% of the shares of the company are short sold. Based on an average daily trading volume, of 374,000 shares, the short-interest ratio is presently 8.2 days.
Shares of NTGR traded up $0.70 during mid-day trading on Friday, hitting $31.43. 206,882 shares of the company’s stock were exchanged, compared to its average volume of 659,694. The firm has a fifty day moving average of $33.03 and a two-hundred day moving average of $30.49. NetGear has a twelve month low of $24.63 and a twelve month high of $57.65. The stock has a market cap of $972.92 million, a price-to-earnings ratio of 18.06 and a beta of 1.68. The company has a quick ratio of 1.57, a current ratio of 2.45 and a debt-to-equity ratio of 0.05.
NetGear (NASDAQ:NTGR) last posted its earnings results on Wednesday, July 24th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.14). NetGear had a net margin of 0.91% and a return on equity of 7.26%. The firm had revenue of $230.85 million during the quarter, compared to analyst estimates of $224.35 million. During the same quarter in the previous year, the business posted $0.29 earnings per share. The business’s quarterly revenue was down 9.6% compared to the same quarter last year. On average, equities analysts predict that NetGear will post 1.35 earnings per share for the current year.
NTGR has been the subject of several research analyst reports. Deutsche Bank initiated coverage on shares of NetGear in a research report on Friday, June 28th. They issued a “hold” rating and a $28.00 price target for the company. BidaskClub downgraded shares of NetGear from a “hold” rating to a “sell” rating in a research report on Friday, September 20th. ValuEngine upgraded shares of NetGear from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Guggenheim set a $44.00 target price on shares of NetGear and gave the stock a “buy” rating in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. NetGear currently has an average rating of “Hold” and an average price target of $36.67.
In other NetGear news, SVP Michael A. Werdann sold 1,489 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $34.90, for a total value of $51,966.10. Following the completion of the transaction, the senior vice president now owns 31,292 shares in the company, valued at approximately $1,092,090.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Patrick Cs Lo sold 34,764 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $33.04, for a total transaction of $1,148,602.56. Following the completion of the transaction, the chairman now owns 273,057 shares of the company’s stock, valued at $9,021,803.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,303 shares of company stock valued at $2,959,801. Insiders own 5.10% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue grew its stake in NetGear by 122.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 23,904 shares of the communications equipment provider’s stock valued at $770,000 after buying an additional 13,181 shares during the last quarter. Macquarie Group Ltd. bought a new stake in NetGear in the 2nd quarter valued at $26,269,000. Hancock Whitney Corp bought a new stake in NetGear in the 2nd quarter valued at $435,000. Maverick Capital Ltd. bought a new stake in NetGear in the 2nd quarter valued at $433,000. Finally, Platinum Investment Management Ltd. bought a new stake in NetGear in the 2nd quarter valued at $180,000. Institutional investors and hedge funds own 99.84% of the company’s stock.
NETGEAR, Inc designs, develops, and markets networking and Internet connected products for consumers, businesses, and service providers. It operates in two segments, Connected Home, and Small and Medium Business. The company offers smart home/connected home/broadband access products, such as broadband modems, WiFi gateways, WiFi hotspots, WiFi routers and home WiFi systems, WiFi range extenders, Powerline adapters and bridges, WiFi network adapters, and digital canvasses; and value added service offerings, including technical support, parental controls, and cybersecurity protection.
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