NETGEAR (NASDAQ:NTGR) Hits New 1-Year High at $19.06

Shares of NETGEAR, Inc. (NASDAQ:NTGR) reached a new 52-week high on Thursday . The stock traded as high as $19.06 and last traded at $19.06, with a volume of 69658 shares traded. The stock had previously closed at $15.93.

Wall Street Analysts Forecast Growth

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

NETGEAR Trading Up 28.5 %

The stock has a market capitalization of $595.68 million, a P/E ratio of -5.55 and a beta of 0.82. The company has a 50-day moving average price of $15.54 and a two-hundred day moving average price of $14.73.

Institutional Trading of NETGEAR

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in NETGEAR during the 1st quarter worth approximately $30,000. Quest Partners LLC purchased a new position in shares of NETGEAR in the 4th quarter worth approximately $53,000. Allspring Global Investments Holdings LLC boosted its stake in shares of NETGEAR by 229.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,940 shares of the communications equipment provider’s stock worth $157,000 after buying an additional 6,921 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new position in shares of NETGEAR in the 1st quarter worth approximately $176,000. Finally, Aigen Investment Management LP boosted its stake in shares of NETGEAR by 57.9% in the 4th quarter. Aigen Investment Management LP now owns 18,467 shares of the communications equipment provider’s stock worth $269,000 after buying an additional 6,772 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

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.