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

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

Analysts Set New Price Targets

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

NETGEAR Stock Performance

The company has a 50-day moving average of $23.48 and a 200-day moving average of $18.83. The stock has a market cap of $832.03 million, a price-to-earnings ratio of 44.49 and a beta of 0.86.

Insider Transactions at NETGEAR

In related 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 value of $60,840.00. Following the sale, the director now owns 61,135 shares in the company, valued at $1,859,726.70. This represents a 3.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 7.00% of the company’s stock.

Institutional Trading of NETGEAR

Several large investors have recently bought and sold shares of NTGR. Brandes Investment Partners LP raised its stake in shares of NETGEAR by 6.8% during the 2nd quarter. Brandes Investment Partners LP now owns 3,896,492 shares of the communications equipment provider’s stock worth $59,246,000 after buying an additional 247,162 shares during the last quarter. American Century Companies Inc. raised its position 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 during the last quarter. Tenzing Global Management LLC purchased a new stake in shares of NETGEAR in the third quarter valued at about $3,510,000. Los Angeles Capital Management LLC acquired a new stake in shares of NETGEAR in the third quarter valued at approximately $1,805,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of NETGEAR by 124.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,413 shares of the communications equipment provider’s stock worth $2,917,000 after purchasing an additional 80,746 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

About NETGEAR

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.