First Eagle Investment Management LLC Boosts Holdings in Ceragon Networks Ltd. $CRNT

First Eagle Investment Management LLC increased its position in shares of Ceragon Networks Ltd. (NASDAQ:CRNT) by 30.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 590,860 shares of the communications equipment provider’s stock after buying an additional 139,528 shares during the quarter. First Eagle Investment Management LLC’s holdings in Ceragon Networks were worth $1,454,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Axis Wealth Partners LLC acquired a new stake in Ceragon Networks during the second quarter worth $26,000. Bank of Montreal Can acquired a new position in shares of Ceragon Networks in the 2nd quarter valued at $35,000. Worth Venture Partners LLC purchased a new position in shares of Ceragon Networks during the 1st quarter worth $47,000. State of Wyoming acquired a new stake in shares of Ceragon Networks during the 1st quarter worth about $58,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Ceragon Networks during the 1st quarter worth about $90,000. 13.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on CRNT. Needham & Company LLC reaffirmed a “buy” rating and issued a $3.00 target price on shares of Ceragon Networks in a research report on Thursday, September 18th. Weiss Ratings reissued a “sell (d)” rating on shares of Ceragon Networks in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Finally, Roth Capital decreased their price target on Ceragon Networks from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $5.50.

Ceragon Networks Stock Performance

Shares of CRNT stock opened at $2.33 on Monday. Ceragon Networks Ltd. has a fifty-two week low of $1.82 and a fifty-two week high of $5.73. The company has a 50 day moving average price of $2.34 and a 200 day moving average price of $2.30. The stock has a market capitalization of $207.21 million, a P/E ratio of 14.56 and a beta of 1.13.

Ceragon Networks Profile

Ceragon Networks Ltd., together with its subsidiaries, provides wireless transport solutions for cellular operators and other wireless service providers in North America, Europe, Africa, the Asia Pacific, the Middle East, India, and Latin America. The company's solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and the service provider's network.