NETGEAR Experiences Significant Options Trading Activity (NASDAQ:NTGR)

NETGEAR, Inc. (NASDAQ:NTGR) saw an unusual surge in options trading on Wednesday. Traders purchased 2,262 call options for the company. This marks an impressive increase of about 210% when compared to the typical volume, which averages around 729 call options.

Insights from Institutional Investors

Several institutional investors have made noteworthy adjustments to their NETGEAR holdings recently. Quarry LP raised its position by 66.5% during the third quarter, now holding 1,856 shares valued at approximately $37,000 after acquiring an additional 741 shares. Rhumbline Advisers increased its stake by 4.2% in the second quarter, amassing 47,101 shares worth about $721,000 after adding 1,904 shares. Franklin Resources Inc. also expanded its holdings by 5.3% in the third quarter, owning 42,673 shares valued at approximately $883,000 following a purchase of 2,166 additional shares. Barclays PLC boosted its position by 10.5% during the third quarter, now owning 43,385 shares worth about $870,000 after acquiring 4,125 shares. Finally, Meeder Asset Management Inc. established a new stake in NETGEAR during the third quarter, valued at around $91,000. Currently, 82.97% of NETGEAR's shares are owned by institutional investors and hedge funds.

NETGEAR Stock Activity

On Wednesday, NETGEAR’s stock rose by $4.00 during trading, reaching a value of $29.68. A total of 278,249 shares were traded, surpassing its average trading volume of 269,608 shares. The company has a market capitalization of $853.89 million, a price-to-earnings ratio of 46.11, and a beta of 0.86. Its 50-day moving average stands at $23.22, while the 200-day moving average is $18.72. Over the past year, NETGEAR's stock has fluctuated, reaching a low of $10.48 and a high of $31.55.

Analysts' Growth Projections for NETGEAR

In a recent evaluation, StockNews.com upgraded NETGEAR’s status from a "hold" rating to a "buy" rating as of Friday, November 1st.

About NETGEAR

NETGEAR, Inc. specializes in providing connectivity solutions across various regions including 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 division offers a variety of products such as Wi-Fi routers, home Wi-Fi mesh systems, Wi-Fi hotspots, digital displays, broadband modems, Wi-Fi gateways, range extenders, powerline adapters, and network adapters. They also provide additional services that include security and privacy measures, technical support, and parental controls.

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