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

NETGEAR, Inc. (NASDAQ:NTGR)’s stock price hit a new 52-week high on Friday . The company traded as high as $22.79 and last traded at $22.78, with a volume of 57889 shares traded. The stock had previously closed at $21.92.

Analyst Ratings Changes

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

NETGEAR Stock Up 3.9 %

The stock has a market capitalization of $653.31 million, a P/E ratio of 35.05 and a beta of 0.82. The company has a fifty day moving average price of $19.46 and a 200-day moving average price of $16.18.

NETGEAR (NASDAQ:NTGR) last released its quarterly earnings data on Wednesday, July 31st. The communications equipment provider reported ($0.94) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.94). The business had revenue of $143.90 million for the quarter, compared to the consensus estimate of $132.69 million. NETGEAR had a negative return on equity of 8.06% and a net margin of 2.88%. As a group, research analysts expect that NETGEAR, Inc. will post -1.97 earnings per share for the current fiscal year.

Insider Activity at NETGEAR

In related news, Director Thomas H. Waechter sold 2,500 shares of the company’s stock in a transaction on 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 owns 65,318 shares of the company’s stock, valued at $1,306,360. This represents a 0.00 % decrease in their ownership of the stock. The transaction 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 insiders.

Institutional Investors Weigh In On NETGEAR

Several institutional investors have recently modified their holdings of NTGR. Brandes Investment Partners LP raised its stake in shares of NETGEAR by 6.8% in the second quarter. Brandes Investment Partners LP now owns 3,896,492 shares of the communications equipment provider’s stock valued at $59,246,000 after acquiring an additional 247,162 shares during the period. Vanguard Group Inc. lifted its stake 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 worth $39,642,000 after purchasing an additional 105,994 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of NETGEAR by 72.4% during the first quarter. Acadian Asset Management LLC now owns 622,936 shares of the communications equipment provider’s stock valued at $9,820,000 after buying an additional 261,705 shares during the period. American Century Companies Inc. grew its stake in shares of NETGEAR by 137.3% during the second quarter. American Century Companies Inc. now owns 353,893 shares of the communications equipment provider’s stock valued at $5,415,000 after buying an additional 204,734 shares during the last quarter. Finally, Donald Smith & CO. Inc. raised its holdings in shares of NETGEAR by 11.9% in the second quarter. Donald Smith & CO. Inc. now owns 329,300 shares of the communications equipment provider’s stock worth $5,038,000 after buying an additional 35,100 shares during the period. 82.97% of the stock is owned by 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.