StockNews.com Upgrades NETGEAR (NASDAQ:NTGR) to Buy

StockNews.com upgraded shares of NETGEAR (NASDAQ:NTGR) from a hold rating to a buy rating in a report released on Friday morning.

NETGEAR Price Performance

Shares of NTGR opened at $23.17 on Friday. The company’s 50-day moving average is $19.59 and its 200-day moving average is $16.25. The firm has a market capitalization of $664.49 million, a PE ratio of 35.65 and a beta of 0.82. NETGEAR has a fifty-two week low of $10.48 and a fifty-two week high of $23.57.

Insider Activity

In other news, Director Thomas H. Waechter sold 2,500 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.00, for a total value of $50,000.00. Following the completion of the transaction, the director now owns 65,318 shares of the company’s stock, valued at approximately $1,306,360. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.00% of the company’s stock.

Institutional Trading of NETGEAR

Hedge funds and other institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC bought a new stake in NETGEAR during the 1st quarter worth approximately $30,000. Values First Advisors Inc. bought a new position in shares of NETGEAR during the third quarter worth about $144,000. Allspring Global Investments Holdings LLC lifted its stake in shares of NETGEAR by 229.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 9,940 shares of the communications equipment provider’s stock worth $157,000 after acquiring an additional 6,921 shares during the period. State Board of Administration of Florida Retirement System bought a new stake in NETGEAR in the first quarter valued at approximately $176,000. Finally, Creative Planning bought a new stake in NETGEAR in the third quarter valued at approximately $235,000. 82.97% of the stock is currently 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.