Investors Buy High Volume of NETGEAR Call Options (NASDAQ:NTGR)

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

NETGEAR Price Performance

Shares of NASDAQ NTGR opened at $26.91 on Thursday. NETGEAR has a 1 year low of $10.48 and a 1 year high of $31.55. The firm has a 50-day moving average of $23.34 and a 200 day moving average of $18.77. The stock has a market cap of $774.20 million, a P/E ratio of 41.40 and a beta of 0.86.

Insider Activity

In other news, Director Thomas H. Waechter sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $30.42, for a total value of $60,840.00. Following the completion of the transaction, the director now owns 61,135 shares of the company’s stock, valued at approximately $1,859,726.70. This represents a 3.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On NETGEAR

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. grew its stake in shares of NETGEAR by 5.3% in the 3rd quarter. Franklin Resources Inc. now owns 42,673 shares of the communications equipment provider’s stock worth $883,000 after buying an additional 2,166 shares during the last quarter. Barclays PLC boosted its holdings in NETGEAR by 10.5% in the third quarter. Barclays PLC now owns 43,385 shares of the communications equipment provider’s stock worth $870,000 after acquiring an additional 4,125 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of NETGEAR in the third quarter worth $540,000. Tenzing Global Management LLC bought a new position in shares of NETGEAR during the third quarter valued at $3,510,000. Finally, Quarry LP increased its holdings in shares of NETGEAR by 66.5% during the third quarter. Quarry LP now owns 1,856 shares of the communications equipment provider’s stock valued at $37,000 after acquiring an additional 741 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

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

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.