Stock Traders Buy High Volume of Call Options on NETGEAR (NASDAQ:NTGR)

NETGEAR, Inc. (NASDAQ:NTGR) saw some unusual options trading on Wednesday. Investors acquired 2,262 call options on the company. This is an increase of 210% compared to the typical daily volume of 729 call options.

Analyst Ratings Changes

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

Insider Activity at NETGEAR

In other news, Director Thomas H. Waechter sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $30.42, for a total transaction of $60,840.00. Following the transaction, the director now directly owns 61,135 shares of the company’s stock, valued at approximately $1,859,726.70. This trade represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NETGEAR

A number of hedge funds have recently modified their holdings of the company. Quarry LP grew its stake in shares of NETGEAR by 66.5% in the third quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock worth $37,000 after purchasing an additional 741 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of NETGEAR in the 3rd quarter worth approximately $91,000. Values First Advisors Inc. bought a new stake in shares of NETGEAR in the 3rd quarter worth approximately $144,000. Creative Planning purchased a new position in shares of NETGEAR during the third quarter valued at approximately $235,000. Finally, Versor Investments LP bought a new position in shares of NETGEAR during the third quarter valued at approximately $235,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

NETGEAR Stock Up 4.8 %

Shares of NASDAQ NTGR opened at $26.91 on Thursday. The firm’s fifty day moving average is $23.34 and its 200 day moving average is $18.77. NETGEAR has a 52 week low of $10.48 and a 52 week high of $31.55. The company has a market cap of $774.20 million, a price-to-earnings ratio of 41.40 and a beta of 0.86.

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.