NETGEAR (NASDAQ:NTGR) Reaches New 1-Year High - Here's Why

NETGEAR, Inc. (NASDAQ:NTGR - Get Free Report)'s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $24.50 and last traded at $24.26, with a volume of 238395 shares changing hands. The stock had previously closed at $23.43.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded NETGEAR from a "hold" rating to a "buy" rating in a research note on Friday, November 1st.

NETGEAR Stock Performance

The stock has a market cap of $699.69 million, a PE ratio of 37.12 and a beta of 0.83. The company has a 50 day moving average of $20.02 and a two-hundred day moving average of $16.42.

Insider Activity at NETGEAR

In related news, Director Thomas H. Waechter sold 2,500 shares of the company's stock in a transaction dated 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 sale, 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. 7.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in NETGEAR by 3.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 37,779 shares of the communications equipment provider's stock valued at $596,000 after purchasing an additional 1,247 shares during the period. Rhumbline Advisers lifted its position in shares of NETGEAR by 4.2% during the 2nd quarter. Rhumbline Advisers now owns 47,101 shares of the communications equipment provider's stock worth $721,000 after purchasing an additional 1,904 shares during the last quarter. Headlands Technologies LLC acquired a new stake in NETGEAR in the first quarter valued at $30,000. Donald Smith & CO. Inc. boosted its position in shares of NETGEAR by 0.7% during the 1st quarter. Donald Smith & CO. Inc. now owns 294,200 shares of the communications equipment provider's stock worth $4,640,000 after acquiring an additional 2,008 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in NETGEAR during the third quarter worth approximately $91,000. 82.97% of the stock is currently 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.

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