Short Interest in NETGEAR, Inc. (NASDAQ:NTGR) Decreases By 29.3%

NETGEAR, Inc. (NASDAQ:NTGR - Get Free Report) was the target of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 645,600 shares, a decrease of 29.3% from the March 15th total of 913,100 shares. Currently, 2.4% of the company's stock are sold short. Based on an average daily volume of 221,800 shares, the days-to-cover ratio is presently 2.9 days.

Insider Activity

In other news, insider Andrew Wonki Kim sold 5,457 shares of the company's stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $13.77, for a total value of $75,142.89. Following the completion of the transaction, the insider now directly owns 93,890 shares in the company, valued at $1,292,865.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Vikram Mehta sold 1,844 shares of the company's stock in a transaction on Monday, February 5th. The shares were sold at an average price of $14.48, for a total value of $26,701.12. Following the completion of the transaction, the senior vice president now directly owns 25,569 shares in the company, valued at $370,239.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew Wonki Kim sold 5,457 shares of the company's stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $13.77, for a total transaction of $75,142.89. Following the completion of the sale, the insider now directly owns 93,890 shares in the company, valued at $1,292,865.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,190 shares of company stock worth $187,235. 6.00% of the stock is currently owned by company insiders.

Institutional Trading of NETGEAR

A number of institutional investors and hedge funds have recently modified their holdings of NTGR. Captrust Financial Advisors grew its position in shares of NETGEAR by 20.1% during the first quarter. Captrust Financial Advisors now owns 3,082 shares of the communications equipment provider's stock worth $76,000 after acquiring an additional 515 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of NETGEAR by 54.6% during the third quarter. Tower Research Capital LLC TRC now owns 2,371 shares of the communications equipment provider's stock worth $48,000 after acquiring an additional 837 shares during the last quarter. Quilter Plc bought a new position in shares of NETGEAR during the first quarter worth about $983,070,000. US Bancorp DE grew its position in shares of NETGEAR by 53.8% during the second quarter. US Bancorp DE now owns 2,926 shares of the communications equipment provider's stock worth $41,000 after acquiring an additional 1,024 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of NETGEAR by 1.2% during the fourth quarter. Renaissance Technologies LLC now owns 98,900 shares of the communications equipment provider's stock worth $1,791,000 after acquiring an additional 1,200 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

NETGEAR Price Performance

NTGR traded down $0.23 during trading on Friday, hitting $14.68. The company had a trading volume of 186,629 shares, compared to its average volume of 218,691. The company has a market cap of $435.42 million, a PE ratio of -4.14 and a beta of 0.84. The business has a 50-day moving average of $14.83 and a 200-day moving average of $13.80. NETGEAR has a 1-year low of $10.40 and a 1-year high of $18.68.

NETGEAR (NASDAQ:NTGR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.04. The firm had revenue of $188.67 million for the quarter, compared to analysts' expectations of $185.14 million. NETGEAR had a negative net margin of 14.14% and a negative return on equity of 2.96%. The firm's quarterly revenue was down 24.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.21) earnings per share. Research analysts forecast that NETGEAR will post -0.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reaffirmed a "buy" rating and issued a $30.00 price target on shares of NETGEAR in a report on Wednesday.

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.