JPMorgan Chase & Co. Purchases 183,452 Shares of Ceragon Networks Ltd. (NASDAQ:CRNT)

JPMorgan Chase & Co. lifted its position in Ceragon Networks Ltd. (NASDAQ:CRNT - Free Report) by 481.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 221,539 shares of the communications equipment provider's stock after purchasing an additional 183,452 shares during the period. JPMorgan Chase & Co. owned about 0.26% of Ceragon Networks worth $1,035,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Inspire Investing LLC bought a new stake in shares of Ceragon Networks in the fourth quarter worth about $903,000. Perigon Wealth Management LLC purchased a new position in shares of Ceragon Networks during the fourth quarter valued at approximately $90,000. Commonwealth Equity Services LLC bought a new position in shares of Ceragon Networks during the fourth quarter valued at approximately $58,000. Navellier & Associates Inc. purchased a new stake in Ceragon Networks in the fourth quarter worth $1,804,000. Finally, Sei Investments Co. boosted its holdings in Ceragon Networks by 21.6% in the fourth quarter. Sei Investments Co. now owns 78,180 shares of the communications equipment provider's stock valued at $365,000 after acquiring an additional 13,909 shares in the last quarter. Hedge funds and other institutional investors own 13.31% of the company's stock.

Ceragon Networks Price Performance

NASDAQ:CRNT traded up $0.09 during mid-day trading on Friday, hitting $2.39. 191,787 shares of the company's stock were exchanged, compared to its average volume of 1,058,835. Ceragon Networks Ltd. has a one year low of $1.95 and a one year high of $5.73. The business has a fifty day moving average price of $2.37 and a 200 day moving average price of $3.38. The company has a market cap of $212.54 million, a PE ratio of 8.83 and a beta of 1.60.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CRNT shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $6.00 target price on shares of Ceragon Networks in a research report on Wednesday, February 12th. Craig Hallum began coverage on Ceragon Networks in a report on Thursday, March 13th. They set a "buy" rating and a $5.00 target price on the stock. Finally, StockNews.com upgraded Ceragon Networks from a "hold" rating to a "buy" rating in a research note on Wednesday, April 9th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Ceragon Networks currently has an average rating of "Buy" and an average target price of $6.38.

Ceragon Networks Company 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.