NETGEAR (NASDAQ:NTGR) Hits New 52-Week High - Time to Buy?

NETGEAR, Inc. (NASDAQ:NTGR - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $22.79 and last traded at $22.78, with a volume of 57889 shares. The stock had previously closed at $21.92.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of NETGEAR from a "buy" rating to a "hold" rating in a research report on Tuesday, September 17th.

NETGEAR Stock Performance

The firm has a market cap of $653.33 million, a P/E ratio of 34.80 and a beta of 0.83. The business has a 50-day simple moving average of $19.32 and a 200 day simple moving average of $16.10.

NETGEAR (NASDAQ:NTGR - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The communications equipment provider reported ($0.94) earnings per share for the quarter, meeting the consensus estimate of ($0.94). NETGEAR had a net margin of 2.88% and a negative return on equity of 8.26%. The business had revenue of $143.90 million for the quarter, compared to analysts' expectations of $132.69 million. On average, research analysts expect that NETGEAR, Inc. will post -1.97 EPS for the current year.

Insider Activity

In other news, Director Thomas H. Waechter sold 2,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 65,318 shares of the company's stock, valued at approximately $1,306,360. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.00% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NTGR. Brandes Investment Partners LP boosted its holdings in NETGEAR by 6.8% in the second quarter. Brandes Investment Partners LP now owns 3,896,492 shares of the communications equipment provider's stock worth $59,246,000 after acquiring an additional 247,162 shares in the last quarter. Vanguard Group Inc. grew its position in NETGEAR by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 2,513,785 shares of the communications equipment provider's stock valued at $39,642,000 after purchasing an additional 105,994 shares during the last quarter. Acadian Asset Management LLC increased its stake in NETGEAR by 72.4% during the 1st quarter. Acadian Asset Management LLC now owns 622,936 shares of the communications equipment provider's stock valued at $9,820,000 after purchasing an additional 261,705 shares in the last quarter. American Century Companies Inc. raised its holdings in NETGEAR by 137.3% in the second quarter. American Century Companies Inc. now owns 353,893 shares of the communications equipment provider's stock worth $5,415,000 after buying an additional 204,734 shares during the last quarter. Finally, Donald Smith & CO. Inc. raised its holdings in NETGEAR by 11.9% in the second quarter. Donald Smith & CO. Inc. now owns 329,300 shares of the communications equipment provider's stock worth $5,038,000 after buying an additional 35,100 shares during the last quarter. 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.