NETGEAR (NASDAQ:NTGR) Reaches New 52-Week High – Here’s Why

NETGEAR, Inc. (NASDAQ:NTGR) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $26.50 and last traded at $26.50, with a volume of 3008 shares changing hands. The stock had previously closed at $25.23.

Analyst Upgrades and Downgrades

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

NETGEAR Stock Up 0.1 %

The firm has a market capitalization of $731.05 million, a PE ratio of 39.09 and a beta of 0.86. The company’s 50-day simple moving average is $22.86 and its 200 day simple moving average is $18.40.

Institutional Investors Weigh In On NETGEAR

A number of hedge funds and other institutional investors have recently bought and sold shares of NTGR. Bank of New York Mellon Corp grew its holdings in NETGEAR by 7.0% in the second quarter. Bank of New York Mellon Corp now owns 123,410 shares of the communications equipment provider’s stock worth $1,888,000 after purchasing an additional 8,050 shares during the last quarter. Mizuho Markets Americas LLC increased its position in NETGEAR by 43.4% during the 2nd quarter. Mizuho Markets Americas LLC now owns 95,884 shares of the communications equipment provider’s stock valued at $1,467,000 after buying an additional 29,000 shares in the last quarter. Rhumbline Advisers raised its stake in NETGEAR by 4.2% in the second quarter. Rhumbline Advisers now owns 47,101 shares of the communications equipment provider’s stock valued at $721,000 after buying an additional 1,904 shares during the last quarter. American Century Companies Inc. raised its stake in NETGEAR by 137.3% in 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, Federated Hermes Inc. boosted its holdings in NETGEAR by 125.0% in the second quarter. Federated Hermes Inc. now owns 127,892 shares of the communications equipment provider’s stock worth $1,957,000 after acquiring an additional 71,054 shares in the last quarter. Hedge funds and other 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.