NETGEAR (NASDAQ:NTGR) Trading 8.9% Higher – Should You Buy?

NETGEAR, Inc. (NASDAQ:NTGR) traded up 8.9% during trading on Friday . The stock traded as high as $29.14 and last traded at $29.09. 262,760 shares were traded during trading, a decline of 4% from the average session volume of 273,499 shares. The stock had previously closed at $26.71.

Wall Street Analyst Weigh In

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

NETGEAR Stock Up 4.8 %

The firm has a market capitalization of $805.56 million, a P/E ratio of 43.08 and a beta of 0.86. The company’s 50 day moving average is $23.62 and its 200-day moving average is $18.97.

Insider Activity

In other news, Director Thomas H. Waechter sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $30.42, for a total transaction of $60,840.00. Following the transaction, the director now directly owns 61,135 shares of the company’s stock, valued at $1,859,726.70. This represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.00% of the stock is currently owned by company insiders.

Institutional Trading of NETGEAR

Hedge funds and other institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. grew its holdings in shares of NETGEAR by 5.3% during the third quarter. Franklin Resources Inc. now owns 42,673 shares of the communications equipment provider’s stock valued at $883,000 after buying an additional 2,166 shares during the last quarter. Barclays PLC lifted its position in NETGEAR by 10.5% in the 3rd quarter. Barclays PLC now owns 43,385 shares of the communications equipment provider’s stock valued at $870,000 after acquiring an additional 4,125 shares in the last quarter. XTX Topco Ltd acquired a new position in NETGEAR during the 3rd quarter valued at about $540,000. Tenzing Global Management LLC bought a new stake in NETGEAR during the 3rd quarter worth approximately $3,510,000. Finally, Quarry LP increased its holdings in NETGEAR by 66.5% during the 3rd quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock worth $37,000 after purchasing an additional 741 shares in the last quarter. 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.