Short Interest in NETGEAR, Inc. (NASDAQ:NTGR) Expands By 42.5%

NETGEAR, Inc. (NASDAQ:NTGR) was the target of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 2,014,977 shares, an increase of 42.5% from the January 15th total of 1,413,956 shares. Approximately 7.3% of the shares of the stock are sold short. Based on an average trading volume of 504,162 shares, the short-interest ratio is presently 4.0 days. Based on an average trading volume of 504,162 shares, the short-interest ratio is presently 4.0 days. Approximately 7.3% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

NTGR has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a report on Monday, December 29th. Stifel Nicolaus set a $36.00 target price on NETGEAR in a research note on Thursday, February 5th. Zacks Research lowered NETGEAR from a “hold” rating to a “strong sell” rating in a research note on Monday, February 9th. Raymond James Financial upped their price objective on shares of NETGEAR from $29.00 to $37.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, Wall Street Zen lowered shares of NETGEAR from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Two research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, NETGEAR currently has a consensus rating of “Hold” and a consensus price target of $36.00.

NETGEAR Price Performance

NASDAQ NTGR opened at $21.94 on Tuesday. NETGEAR has a 1-year low of $18.75 and a 1-year high of $36.86. The firm has a market capitalization of $623.10 million, a P/E ratio of -35.39 and a beta of 1.15. The business’s 50-day simple moving average is $22.88 and its 200-day simple moving average is $26.63.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings results on Wednesday, February 4th. The communications equipment provider reported $0.26 EPS for the quarter, beating the consensus estimate of $0.05 by $0.21. The firm had revenue of $182.47 million for the quarter, compared to analyst estimates of $177.26 million. NETGEAR had a negative net margin of 2.56% and a negative return on equity of 2.40%. NETGEAR’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.06) earnings per share. On average, equities research analysts expect that NETGEAR will post -1.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other NETGEAR news, insider Pramod Badjate sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $24.60, for a total transaction of $98,400.00. Following the sale, the insider directly owned 155,361 shares of the company’s stock, valued at $3,821,880.60. This trade represents a 2.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.30% of the company’s stock.

Institutional Trading of NETGEAR

Large investors have recently added to or reduced their stakes in the stock. Comerica Bank lifted its stake in shares of NETGEAR by 64.8% during the third quarter. Comerica Bank now owns 1,091 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 429 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in NETGEAR by 44.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,323 shares of the communications equipment provider’s stock worth $75,000 after acquiring an additional 718 shares during the period. Bailard Inc. boosted its holdings in NETGEAR by 9.9% in the 2nd quarter. Bailard Inc. now owns 10,000 shares of the communications equipment provider’s stock worth $291,000 after acquiring an additional 900 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of NETGEAR by 35.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,475 shares of the communications equipment provider’s stock valued at $101,000 after purchasing an additional 904 shares during the period. Finally, FNY Investment Advisers LLC raised its stake in shares of NETGEAR by 50.0% during the third quarter. FNY Investment Advisers LLC now owns 3,000 shares of the communications equipment provider’s stock valued at $97,000 after purchasing an additional 1,000 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

NETGEAR Company Profile

NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.