NETGEAR (NASDAQ:NTGR) Shares Gap Down – What’s Next?

Shares of NETGEAR, Inc. (NASDAQ:NTGR) gapped down prior to trading on Thursday . The stock had previously closed at $28.15, but opened at $26.00. NETGEAR shares last traded at $26.26, with a volume of 63,637 shares.

Analysts Set New Price Targets

Separately, StockNews.com upgraded NETGEAR from a “hold” rating to a “buy” rating in a research note on Friday, November 1st.

NETGEAR Stock Down 4.4 %

The stock has a fifty day simple moving average of $26.66 and a 200 day simple moving average of $21.84. The firm has a market capitalization of $773.91 million, a P/E ratio of 41.42 and a beta of 0.83.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings results on Wednesday, February 5th. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.24). NETGEAR had a net margin of 2.88% and a negative return on equity of 8.06%. Research analysts anticipate that NETGEAR, Inc. will post -1.66 earnings per share for the current fiscal year.

Insider Buying and Selling at NETGEAR

In other NETGEAR news, Director Thomas H. Waechter sold 2,000 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $30.42, for a total value of $60,840.00. Following the sale, the director now owns 61,135 shares in the company, valued at $1,859,726.70. This trade represents a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On NETGEAR

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP lifted its stake in shares of NETGEAR by 66.5% during the 3rd quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock worth $37,000 after purchasing an additional 741 shares during the last quarter. R Squared Ltd purchased a new position in shares of NETGEAR in the 4th quarter worth approximately $72,000. New York State Teachers Retirement System bought a new position in shares of NETGEAR during the 4th quarter worth approximately $72,000. Meeder Asset Management Inc. purchased a new stake in NETGEAR during the third quarter valued at approximately $91,000. Finally, Values First Advisors Inc. acquired a new stake in NETGEAR in the third quarter valued at approximately $144,000. 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.