NETGEAR (NASDAQ:NTGR) Sets New 12-Month High – Here’s What Happened

NETGEAR, Inc. (NASDAQ:NTGR) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $25.06 and last traded at $25.06, with a volume of 193803 shares traded. The stock had previously closed at $24.31.

Wall Street Analysts Forecast Growth

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

NETGEAR Trading Down 4.1 %

The business’s fifty day simple moving average is $21.80 and its 200 day simple moving average is $17.50. The stock has a market cap of $691.63 million, a price-to-earnings ratio of 36.98 and a beta of 0.83.

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 transaction of $50,000.00. Following the completion of the transaction, the director now owns 65,318 shares in the company, valued at approximately $1,306,360. The trade was a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.00% of the stock is owned by insiders.

Hedge Funds Weigh In On NETGEAR

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP raised its stake in 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 buying an additional 741 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of NETGEAR in the third quarter worth about $91,000. Values First Advisors Inc. acquired a new stake in shares of NETGEAR during the third quarter worth about $144,000. State Board of Administration of Florida Retirement System bought a new position in shares of NETGEAR during the 1st quarter valued at about $176,000. Finally, Creative Planning bought a new position in shares of NETGEAR during the 3rd quarter valued at about $235,000. 82.97% of the stock is owned by institutional investors.

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.