NETGEAR (NASDAQ:NTGR) Sets New 52-Week High – Here’s What Happened

NETGEAR, Inc. (NASDAQ:NTGR)’s stock price reached a new 52-week high 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.

Analysts Set New Price Targets

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

NETGEAR Stock Up 2.8 %

The firm has a 50 day moving average of $21.64 and a 200-day moving average of $17.37. The company has a market cap of $718.96 million, a P/E ratio of 37.40 and a beta of 0.83.

Insider Transactions at NETGEAR

In other news, Director Thomas H. Waechter sold 2,500 shares of NETGEAR stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $20.00, for a total value of $50,000.00. Following the transaction, the director now directly owns 65,318 shares in the company, valued at approximately $1,306,360. This trade represents a 3.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On NETGEAR

Several hedge funds and other institutional investors have recently modified their holdings of NTGR. Quarry LP increased its stake in NETGEAR by 66.5% during the third quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock worth $37,000 after acquiring an additional 741 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in NETGEAR in the 3rd quarter valued at about $91,000. Values First Advisors Inc. acquired a new position in NETGEAR in the third quarter valued at about $144,000. State Board of Administration of Florida Retirement System purchased a new position in NETGEAR during the first quarter worth about $176,000. Finally, Creative Planning acquired a new stake in shares of NETGEAR during the third quarter valued at about $235,000. 82.97% of the stock is owned by hedge funds and other 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.