NETGEAR (NASDAQ:NTGR) Hits New 12-Month High - Still a Buy?

NETGEAR, Inc. (NASDAQ:NTGR - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $31.55 and last traded at $30.00, with a volume of 92396 shares traded. The stock had previously closed at $25.68.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of NETGEAR from a "hold" rating to a "buy" rating in a research report on Friday, November 1st.

NETGEAR Price Performance

The business has a 50 day simple moving average of $23.34 and a 200-day simple moving average of $18.77. The stock has a market capitalization of $774.20 million, a price-to-earnings ratio of 41.40 and a beta of 0.86.

Insider Activity at NETGEAR

In related news, Director Thomas H. Waechter sold 2,000 shares of the business's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $30.42, for a total value of $60,840.00. Following the sale, the director now directly owns 61,135 shares of the company's stock, valued at approximately $1,859,726.70. The trade was a 3.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.00% of the stock is owned by insiders.

Hedge Funds Weigh In On NETGEAR

Large investors have recently added to or reduced their stakes in the company. Quarry LP boosted its position in shares of 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 buying an additional 741 shares during the period. Rhumbline Advisers lifted its stake in NETGEAR by 4.2% in the 2nd quarter. Rhumbline Advisers now owns 47,101 shares of the communications equipment provider's stock valued at $721,000 after acquiring an additional 1,904 shares in the last quarter. Franklin Resources Inc. lifted its stake in NETGEAR by 5.3% in the 3rd quarter. Franklin Resources Inc. now owns 42,673 shares of the communications equipment provider's stock valued at $883,000 after acquiring an additional 2,166 shares in the last quarter. Barclays PLC boosted its position in NETGEAR by 10.5% during the 3rd quarter. Barclays PLC now owns 43,385 shares of the communications equipment provider's stock worth $870,000 after acquiring an additional 4,125 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of NETGEAR during the 3rd quarter worth approximately $91,000. Institutional investors own 82.97% of the company's stock.

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.