Ceragon Networks Ltd. (CRNT) Holdings Raised by Vanguard Group Inc.
Vanguard Group Inc. boosted its position in shares of Ceragon Networks Ltd. (NASDAQ:CRNT) by 5.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,177,300 shares of the communications equipment provider’s stock after acquiring an additional 55,702 shares during the period. Vanguard Group Inc. owned 1.51% of Ceragon Networks worth $3,002,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC grew its holdings in Ceragon Networks by 51.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 47,722 shares of the communications equipment provider’s stock valued at $156,000 after buying an additional 16,294 shares in the last quarter. Spark Investment Management LLC purchased a new stake in Ceragon Networks during the 2nd quarter valued at approximately $305,000. State of New Jersey Common Pension Fund D grew its holdings in Ceragon Networks by 64.6% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 60,871 shares of the communications equipment provider’s stock valued at $155,000 after buying an additional 23,880 shares in the last quarter. Algert Global LLC grew its holdings in Ceragon Networks by 101.1% during the 2nd quarter. Algert Global LLC now owns 516,319 shares of the communications equipment provider’s stock valued at $1,317,000 after buying an additional 259,530 shares in the last quarter. Finally, Zweig DiMenna Associates LLC grew its holdings in Ceragon Networks by 46.6% during the 2nd quarter. Zweig DiMenna Associates LLC now owns 534,965 shares of the communications equipment provider’s stock valued at $1,364,000 after buying an additional 169,965 shares in the last quarter. Institutional investors own 16.11% of the company’s stock.
Shares of Ceragon Networks Ltd. (NASDAQ CRNT) opened at $2.24 on Wednesday. Ceragon Networks Ltd. has a fifty-two week low of $1.64 and a fifty-two week high of $4.23. The stock has a market cap of $174.58, a P/E ratio of 9.45 and a beta of 1.07.
Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings data on Monday, November 6th. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.05. Ceragon Networks had a net margin of 5.06% and a return on equity of 12.60%. The business had revenue of $75.99 million during the quarter, compared to analyst estimates of $78.22 million. During the same period last year, the firm posted $0.06 EPS. The company’s revenue was down 4.0% on a year-over-year basis. analysts predict that Ceragon Networks Ltd. will post 0.18 EPS for the current year.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Ceragon Networks from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. ValuEngine raised shares of Ceragon Networks from a “hold” rating to a “buy” rating in a report on Tuesday. Oppenheimer reaffirmed a “hold” rating on shares of Ceragon Networks in a report on Tuesday, August 8th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $2.50 price objective on shares of Ceragon Networks in a report on Sunday, October 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $2.50.
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Ceragon Networks 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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