Jefferies Group LLC Reaffirms “Hold” Rating for Ceragon Networks Ltd. (CRNT)

Jefferies Group LLC reiterated their hold rating on shares of Ceragon Networks Ltd. (NASDAQ:CRNT) in a report published on Sunday. Jefferies Group LLC currently has a $2.50 price objective on the communications equipment provider’s stock.

Several other equities analysts have also recently issued reports on CRNT. Zacks Investment Research cut shares of Ceragon Networks from a buy rating to a hold rating in a research report on Thursday, August 10th. Oppenheimer Holdings, Inc. restated a hold rating on shares of Ceragon Networks in a report on Tuesday, August 8th. Finally, ValuEngine upgraded shares of Ceragon Networks from a hold rating to a buy rating in a report on Monday, October 2nd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $2.67.

Ceragon Networks (NASDAQ:CRNT) opened at 2.05 on Friday. Ceragon Networks has a 12 month low of $1.88 and a 12 month high of $4.23. The company has a market cap of $159.68 million, a PE ratio of 9.62 and a beta of 1.25. The company has a 50-day moving average of $2.05 and a 200 day moving average of $2.62.

Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings results on Monday, August 7th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. Ceragon Networks had a net margin of 5.00% and a return on equity of 13.52%. The company had revenue of $93.30 million for the quarter, compared to analysts’ expectations of $87.84 million. During the same quarter in the previous year, the company earned $0.02 earnings per share. Ceragon Networks’s quarterly revenue was up 33.3% on a year-over-year basis. On average, equities analysts forecast that Ceragon Networks will post $0.20 earnings per share for the current fiscal year.

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A number of institutional investors and hedge funds have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership grew its holdings in Ceragon Networks by 6.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 406,991 shares of the communications equipment provider’s stock worth $1,038,000 after purchasing an additional 23,616 shares during the period. State Street Corp grew its holdings in Ceragon Networks by 1.6% in the second quarter. State Street Corp now owns 76,592 shares of the communications equipment provider’s stock worth $195,000 after purchasing an additional 1,205 shares during the period. OxFORD Asset Management LLP grew its holdings in Ceragon Networks by 6.8% in the second quarter. OxFORD Asset Management LLP now owns 495,960 shares of the communications equipment provider’s stock worth $1,265,000 after purchasing an additional 31,747 shares during the period. Parametric Portfolio Associates LLC grew its holdings in Ceragon Networks by 23.9% in the second quarter. Parametric Portfolio Associates LLC now owns 59,132 shares of the communications equipment provider’s stock worth $151,000 after purchasing an additional 11,410 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Ceragon Networks by 5.0% in the second quarter. Vanguard Group Inc. now owns 1,177,300 shares of the communications equipment provider’s stock worth $3,002,000 after purchasing an additional 55,702 shares during the period. Institutional investors and hedge funds own 20.64% of the company’s stock.

Ceragon Networks Company Profile

Ceragon Networks Ltd. offers wireless backhaul solutions. The Company’s products include FibeAir IP-20 Platform, FibeAir IP-20 Assured Platform and Network Management. The Company provides its services to wireless service providers, public safety organizations, government agencies and utility companies, among others.

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