NETGEAR (NASDAQ:NTGR) Shares Gap Up to $20.84

NETGEAR, Inc. (NASDAQ:NTGR) shares gapped up before the market opened on Friday . The stock had previously closed at $20.84, but opened at $21.55. NETGEAR shares last traded at $21.82, with a volume of 77,295 shares.

Analyst Ratings Changes

Separately, StockNews.com raised NETGEAR from a “hold” rating to a “buy” rating in a research report on Monday, September 9th.

NETGEAR Stock Performance

The company’s 50-day simple moving average is $15.81 and its 200 day simple moving average is $14.82. The company has a market cap of $638.45 million, a PE ratio of -5.70 and a beta of 0.82.

NETGEAR (NASDAQ:NTGR) last released its earnings results on Wednesday, July 31st. The communications equipment provider reported ($0.94) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.94). NETGEAR had a negative return on equity of 7.52% and a negative net margin of 21.62%. The firm had revenue of $143.90 million during the quarter, compared to analyst estimates of $132.69 million. Analysts forecast that NETGEAR, Inc. will post -2.29 EPS for the current year.

Insider Buying and Selling

In other NETGEAR news, Director Thomas H. Waechter sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $20.00, for a total transaction of $50,000.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On NETGEAR

Several institutional investors have recently modified their holdings of the company. Brandes Investment Partners LP raised its stake in 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 buying an additional 247,162 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of NETGEAR by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 2,513,785 shares of the communications equipment provider’s stock valued at $39,642,000 after acquiring an additional 105,994 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of NETGEAR by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,342,061 shares of the communications equipment provider’s stock worth $19,568,000 after acquiring an additional 26,519 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in NETGEAR by 9.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 723,246 shares of the communications equipment provider’s stock worth $10,545,000 after purchasing an additional 63,786 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in 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 purchasing an additional 261,705 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.