Ceragon Networks Ltd. (NASDAQ:CRNT) Receives $4.00 Consensus PT from Brokerages

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have earned a consensus recommendation of “Hold” from the five analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $4.00.

Several research firms have issued reports on CRNT. Zacks Research downgraded Ceragon Networks from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. Needham & Company LLC reiterated a “buy” rating and set a $3.00 price objective on shares of Ceragon Networks in a research note on Wednesday, November 12th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Ceragon Networks in a research note on Monday, December 29th.

Hedge Funds Weigh In On Ceragon Networks

A number of large investors have recently modified their holdings of CRNT. First Wilshire Securities Management Inc. increased its holdings in Ceragon Networks by 23.6% during the 2nd quarter. First Wilshire Securities Management Inc. now owns 4,058,774 shares of the communications equipment provider’s stock worth $9,985,000 after acquiring an additional 775,782 shares during the period. CSM Advisors LLC bought a new position in shares of Ceragon Networks in the third quarter worth $4,819,000. Essex Investment Management Co. LLC increased its holdings in shares of Ceragon Networks by 36.9% in the third quarter. Essex Investment Management Co. LLC now owns 1,418,197 shares of the communications equipment provider’s stock worth $3,304,000 after purchasing an additional 382,058 shares during the period. Private Advisor Group LLC purchased a new stake in shares of Ceragon Networks in the third quarter worth $2,247,000. Finally, First Eagle Investment Management LLC boosted its stake in Ceragon Networks by 30.9% during the second quarter. First Eagle Investment Management LLC now owns 590,860 shares of the communications equipment provider’s stock valued at $1,454,000 after buying an additional 139,528 shares during the period. 13.31% of the stock is currently owned by institutional investors.

Ceragon Networks Stock Down 1.3%

CRNT opened at $2.36 on Friday. The company has a market capitalization of $209.87 million, a price-to-earnings ratio of 118.06 and a beta of 1.20. The firm has a 50-day moving average price of $2.16 and a 200-day moving average price of $2.20. Ceragon Networks has a twelve month low of $1.82 and a twelve month high of $5.52.

Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings results on Wednesday, November 12th. The communications equipment provider reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Ceragon Networks had a net margin of 0.38% and a return on equity of 6.67%. The business had revenue of $85.48 million for the quarter, compared to analysts’ expectations of $83.48 million. On average, sell-side analysts expect that Ceragon Networks will post 0.26 earnings per share for the current fiscal year.

About Ceragon Networks

Ceragon Networks Ltd. is a global provider of wireless backhaul solutions, specializing in high-capacity, low-latency connectivity for mobile operators and private networks. The company designs and manufactures a portfolio of microwave and millimeter-wave equipment that serves as a fiber alternative for carrying voice, data and video traffic between cell sites and core networks. Ceragon’s solutions are engineered to support the rigorous performance requirements of modern 4G and 5G deployments, with an emphasis on scalability, reliability and efficient spectrum utilization.

The company’s product lineup includes point-to-point and multi-point radio platforms, as well as software-driven network management tools that enable operators to plan, deploy and monitor end-to-end transport networks.