NETGEAR (NASDAQ:NTGR) Reaches New 1-Year High – Should You Buy?

Shares of NETGEAR, Inc. (NASDAQ:NTGR) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $25.06 and last traded at $25.06, with a volume of 193803 shares. The stock had previously closed at $24.31.

Analyst Upgrades and Downgrades

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

NETGEAR Price Performance

The firm has a 50 day moving average of $21.80 and a 200-day moving average of $17.50. The stock has a market capitalization of $691.63 million, a P/E ratio of 36.98 and a beta of 0.83.

Insider Activity

In other news, Director Thomas H. Waechter sold 2,500 shares of NETGEAR 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 sale, the director now directly owns 65,318 shares in the company, valued at approximately $1,306,360. The trade was a 3.69 % 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 currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NTGR. Brandes Investment Partners LP grew its stake in shares of NETGEAR by 6.8% in the 2nd quarter. Brandes Investment Partners LP now owns 3,896,492 shares of the communications equipment provider’s stock valued at $59,246,000 after purchasing an additional 247,162 shares during the period. Vanguard Group Inc. grew its position in NETGEAR by 4.4% in the first quarter. Vanguard Group Inc. now owns 2,513,785 shares of the communications equipment provider’s stock valued at $39,642,000 after acquiring an additional 105,994 shares during the period. American Century Companies Inc. raised its stake in NETGEAR by 137.3% during the second quarter. American Century Companies Inc. now owns 353,893 shares of the communications equipment provider’s stock worth $5,415,000 after acquiring an additional 204,734 shares in the last quarter. Donald Smith & CO. Inc. lifted its holdings in shares of NETGEAR by 11.9% during the second quarter. Donald Smith & CO. Inc. now owns 329,300 shares of the communications equipment provider’s stock valued at $5,038,000 after acquiring an additional 35,100 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of NETGEAR by 10.6% in the 2nd quarter. Renaissance Technologies LLC now owns 263,018 shares of the communications equipment provider’s stock valued at $4,024,000 after purchasing an additional 25,200 shares in the last quarter. Institutional investors and hedge funds 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.