NETGEAR (NASDAQ:NTGR) Sees Large Volume Increase – Here’s Why

Shares of NETGEAR, Inc. (NASDAQ:NTGR) saw an uptick in trading volume on Tuesday . 183,167 shares traded hands during trading, a decline of 19% from the previous session’s volume of 227,502 shares.The stock last traded at $27.31 and had previously closed at $27.17.

Analyst Upgrades and Downgrades

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

NETGEAR Price Performance

The firm has a market cap of $824.26 million, a P/E ratio of 44.08 and a beta of 0.83. The firm’s 50 day moving average is $26.10 and its 200 day moving average is $21.02.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NTGR. Renaissance Technologies LLC increased its holdings in NETGEAR by 10.6% during the second quarter. Renaissance Technologies LLC now owns 263,018 shares of the communications equipment provider’s stock valued at $4,024,000 after buying an additional 25,200 shares during the last quarter. Brandes Investment Partners LP boosted its position in shares of NETGEAR by 6.8% during the second quarter. Brandes Investment Partners LP now owns 3,896,492 shares of the communications equipment provider’s stock worth $59,246,000 after acquiring an additional 247,162 shares during the last quarter. Empowered Funds LLC boosted its position in shares of NETGEAR by 23.2% during the third quarter. Empowered Funds LLC now owns 141,976 shares of the communications equipment provider’s stock worth $2,848,000 after acquiring an additional 26,756 shares during the last quarter. Franklin Resources Inc. raised its stake in 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 purchasing an additional 2,166 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in NETGEAR during the third quarter valued at $1,805,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.