NETGEAR (NASDAQ:NTGR) Stock Price Up 3.6% – Should You Buy?

NETGEAR, Inc. (NASDAQ:NTGR) traded up 3.6% on Tuesday . The company traded as high as $19.97 and last traded at $19.97. 27,295 shares changed hands during mid-day 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 note on Tuesday, September 17th.

NETGEAR Price Performance

The stock has a fifty day simple moving average of $17.46 and a 200-day simple moving average of $15.45. The company has a market capitalization of $600.92 million, a P/E ratio of -5.36 and a beta of 0.83.

NETGEAR (NASDAQ:NTGR) last announced its earnings results on Wednesday, July 31st. The communications equipment provider reported ($0.94) EPS for the quarter, hitting the consensus estimate of ($0.94). NETGEAR had a negative return on equity of 7.52% and a negative net margin of 21.62%. The business had revenue of $143.90 million for the quarter, compared to the consensus estimate of $132.69 million. Analysts predict that NETGEAR, Inc. will post -2.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related 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 value of $50,000.00. Following the completion of the transaction, the director now owns 65,318 shares in the company, valued at $1,306,360. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 7.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Mizuho Markets Americas LLC acquired a new position in NETGEAR in the first quarter valued at approximately $1,055,000. Renaissance Technologies LLC raised its position in shares of NETGEAR by 10.6% during the 2nd quarter. Renaissance Technologies LLC now owns 263,018 shares of the communications equipment provider’s stock valued at $4,024,000 after acquiring an additional 25,200 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in shares of NETGEAR by 39.1% in the 1st quarter. First Eagle Investment Management LLC now owns 163,412 shares of the communications equipment provider’s stock valued at $2,577,000 after purchasing an additional 45,900 shares during the period. Federated Hermes Inc. boosted its position in shares of NETGEAR by 125.0% in the 2nd quarter. Federated Hermes Inc. now owns 127,892 shares of the communications equipment provider’s stock worth $1,957,000 after purchasing an additional 71,054 shares during the last quarter. Finally, Brandes Investment Partners LP increased its holdings 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 purchasing an additional 247,162 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

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.