NETGEAR (NASDAQ:NTGR) Shares Up 3.6% – Here’s Why

NETGEAR, Inc. (NASDAQ:NTGR)’s share price shot up 3.6% during mid-day trading on Tuesday . The company traded as high as $19.97 and last traded at $19.97. 27,295 shares traded hands during trading, a decline of 89% from the average session volume of 255,051 shares. The stock had previously closed at $19.27.

Wall Street Analysts Forecast Growth

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

NETGEAR Trading Up 6.3 %

The firm has a 50-day moving average of $17.37 and a two-hundred day moving average of $15.42. The firm has a market capitalization of $595.97 million, a P/E ratio of -5.01 and a beta of 0.83.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings results on Wednesday, July 31st. The communications equipment provider reported ($0.94) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.94). The company had revenue of $143.90 million for 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%. On average, sell-side analysts anticipate that NETGEAR, Inc. will post -2.11 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Thomas H. Waechter sold 2,500 shares of NETGEAR stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $20.00, for a total transaction of $50,000.00. Following the sale, the director now directly owns 65,318 shares of the company’s stock, valued at approximately $1,306,360. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NETGEAR

A number of institutional investors have recently made changes to their positions in NTGR. Headlands Technologies LLC bought a new stake in NETGEAR during the first quarter valued at $30,000. Allspring Global Investments Holdings LLC boosted its holdings in NETGEAR by 229.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 9,940 shares of the communications equipment provider’s stock worth $157,000 after acquiring an additional 6,921 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in NETGEAR during the 1st quarter valued at $176,000. Quadrature Capital Ltd lifted its position in NETGEAR by 53.1% in the 4th quarter. Quadrature Capital Ltd now owns 27,482 shares of the communications equipment provider’s stock valued at $401,000 after acquiring an additional 9,527 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of NETGEAR during the second quarter valued at approximately $446,000. Institutional investors own 82.97% of the company’s stock.

About NETGEAR

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.