NETGEAR Target of Unusually Large Options Trading (NASDAQ:NTGR)

NETGEAR, Inc. (NASDAQ:NTGR) was the target of some unusual options trading activity on Wednesday. Stock traders bought 2,262 call options on the company. This represents an increase of approximately 210% compared to the typical volume of 729 call options.

Institutional Investors Weigh In On NETGEAR

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP increased its holdings 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 purchasing an additional 741 shares in the last quarter. Rhumbline Advisers boosted its position in shares of NETGEAR by 4.2% during the second quarter. Rhumbline Advisers now owns 47,101 shares of the communications equipment provider’s stock worth $721,000 after buying an additional 1,904 shares during the period. Franklin Resources Inc. grew its holdings in shares of NETGEAR by 5.3% during the third quarter. Franklin Resources Inc. now owns 42,673 shares of the communications equipment provider’s stock worth $883,000 after buying an additional 2,166 shares in the last quarter. Barclays PLC raised its position in NETGEAR by 10.5% in the 3rd quarter. Barclays PLC now owns 43,385 shares of the communications equipment provider’s stock valued at $870,000 after buying an additional 4,125 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in NETGEAR in the 3rd quarter valued at approximately $91,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

NETGEAR Stock Performance

NASDAQ NTGR traded up $4.00 during trading hours on Wednesday, reaching $29.68. 278,249 shares of the company’s stock were exchanged, compared to its average volume of 269,608. The company has a market capitalization of $853.89 million, a price-to-earnings ratio of 46.11 and a beta of 0.86. The company’s 50-day moving average is $23.22 and its two-hundred day moving average is $18.72. NETGEAR has a one year low of $10.48 and a one year high of $31.55.

Wall Street Analysts Forecast Growth

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

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.