Ceragon Networks (CRNT) Upgraded at Zacks Investment Research
According to Zacks, “Ceragon Networks Ltd. is a leading provider of high-capacity wireless backhaul solutions for cellular and fixed wireless operators, enterprises and government organizations. Ceragon’s modular FibeAir product family is recognized as the gold standard for backhaul transmission and is also one of the top solutions chosen by cellular operators for SONET/SDH rings. A scalable, future-proof solution for wireless transport of broadband services, FibeAir operates across multiple frequencies for IP and SONET/SDH protocols, supporting the emerging needs of next-generation networks that are evolving to all-IP based services, including triple-play. It leads the market in IP backhaul, offering a unique, native IP solution that provides the efficient, robust connectivity required for WiFi, WiMAX and converged networks. “
Other equities research analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Ceragon Networks from a “hold” rating to a “buy” rating in a research report on Tuesday, February 5th. ValuEngine upgraded shares of Ceragon Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Finally, TheStreet cut shares of Ceragon Networks from a “b” rating to a “c+” rating in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $4.66.
Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings results on Monday, May 6th. The communications equipment provider reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. Ceragon Networks had a net margin of 6.61% and a return on equity of 9.63%. The company had revenue of $69.16 million for the quarter, compared to analysts’ expectations of $73.74 million. On average, sell-side analysts expect that Ceragon Networks will post 0.19 EPS for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Seelaus Asset Management LLC bought a new stake in Ceragon Networks in the first quarter worth $36,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Ceragon Networks during the first quarter worth $54,000. Penserra Capital Management LLC purchased a new position in Ceragon Networks during the first quarter worth $61,000. State of Tennessee Treasury Department boosted its stake in Ceragon Networks by 163.2% during the first quarter. State of Tennessee Treasury Department now owns 42,554 shares of the communications equipment provider’s stock worth $153,000 after buying an additional 26,388 shares during the period. Finally, Delek Group Ltd. purchased a new position in Ceragon Networks during the first quarter worth $186,000. Institutional investors own 20.83% of the company’s stock.
Ceragon Networks Company Profile
Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services worldwide. Its wireless backhaul solutions use microwave and millimeter wave technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider's network.
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