NETGEAR (NASDAQ:NTGR – Get Rating) posted its quarterly earnings data on Wednesday. The communications equipment provider reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.05, RTT News reports. NETGEAR had a negative net margin of 6.84% and a negative return on equity of 9.94%. The business had revenue of $249.10 million for the quarter, compared to analyst estimates of $243.52 million. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. NETGEAR's quarterly revenue was down .8% on a year-over-year basis. NETGEAR updated its Q1 2023 guidance to EPS.

NETGEAR Stock Performance

Shares of NTGR traded up $0.58 during mid-day trading on Wednesday, hitting $20.55. 262,249 shares of the company traded hands, compared to its average volume of 126,993. The stock has a 50-day moving average price of $19.50 and a two-hundred day moving average price of $21.00. NETGEAR has a 1 year low of $17.40 and a 1 year high of $29.24. The stock has a market cap of $593.90 million, a price-to-earnings ratio of -9.43 and a beta of 0.93.

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Insider Activity

In other news, insider Martin Westhead sold 2,044 shares of the business's stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $18.14, for a total transaction of $37,078.16. Following the completion of the transaction, the insider now directly owns 42,970 shares of the company's stock, valued at $779,475.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.10% of the stock is owned by corporate insiders.

Institutional Trading of NETGEAR

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC increased its holdings in NETGEAR by 8.7% during the first quarter. Hsbc Holdings PLC now owns 15,333 shares of the communications equipment provider's stock valued at $377,000 after buying an additional 1,221 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of NETGEAR in the third quarter worth $341,000. Bank of Montreal Can increased its stake in shares of NETGEAR by 39.6% in the second quarter. Bank of Montreal Can now owns 16,754 shares of the communications equipment provider's stock worth $331,000 after purchasing an additional 4,750 shares in the last quarter. BNP Paribas Arbitrage SNC increased its stake in shares of NETGEAR by 44.1% in the third quarter. BNP Paribas Arbitrage SNC now owns 16,180 shares of the communications equipment provider's stock worth $324,000 after purchasing an additional 4,955 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of NETGEAR in the third quarter worth $314,000. 85.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Raymond James dropped their price objective on shares of NETGEAR from $25.00 to $23.00 and set an "outperform" rating on the stock in a research note on Thursday, October 27th. StockNews.com began coverage on shares of NETGEAR in a research note on Wednesday, October 12th. They issued a "hold" rating on the stock.

NETGEAR Company Profile

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NETGEAR, Inc engages in the provision of Internet connected products to consumers, businesses, and service providers. It operates through the following segments: Connected Home, and Small & Medium Business. The Connected Home segment focuses on consumers and consists of high-performance, dependable and easy-to-use WiFi Internet networking solutions such as WiFi mesh systems, routers, 4G/5G mobile products, smart devices such as Meural digital canvasses, and services offering consumers a range of parental controls and cyber security for their home networks.

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