First Wilshire Securities Management Inc. Boosts Stake in Ceragon Networks Ltd. $CRNT

Key Points

• First Wilshire Securities Management increased its Ceragon Networks stake by 18% in the first quarter, buying 740,358 additional shares and bringing its total holding to 4.85 million shares, or about 5.34% of the company.
• Several other hedge funds also adjusted positions in Ceragon, while institutional investors overall own 13.31% of the stock. Analyst sentiment is mixed but leans cautious, with a consensus rating of Hold and an average price target of $3.75.
• Ceragon Networks shares were trading at $2.28, below both the 50-day and 200-day moving averages, after the company reported first-quarter EPS of $0.01 on $85 million in revenue. Analysts expect the company to earn $0.12 per share for the current fiscal year.

First Wilshire Securities Management Inc. raised its holdings in shares of Ceragon Networks Ltd. (NASDAQ:CRNT - Free Report) by 18.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,854,150 shares of the communications equipment provider's stock after buying an additional 740,358 shares during the period. Ceragon Networks comprises approximately 2.4% of First Wilshire Securities Management Inc.'s investment portfolio, making the stock its 14th biggest position. First Wilshire Securities Management Inc. owned 5.34% of Ceragon Networks worth $10,485,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. BNP Paribas Financial Markets purchased a new stake in shares of Ceragon Networks in the second quarter worth approximately $26,000. Walleye Capital LLC purchased a new stake in Ceragon Networks in the fourth quarter worth $27,000. Tamar Securities LLC lifted its position in shares of Ceragon Networks by 67.3% during the fourth quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider's stock worth $36,000 after purchasing an additional 6,848 shares during the last quarter. HRT Financial LP lifted its position in shares of Ceragon Networks by 44.3% during the fourth quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider's stock worth $41,000 after purchasing an additional 6,039 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Ceragon Networks during the fourth quarter valued at $64,000. Institutional investors own 13.31% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CRNT. Needham & Company LLC reaffirmed a "buy" rating and issued a $3.00 price target on shares of Ceragon Networks in a research note on Wednesday, May 20th. Roth Capital reaffirmed a "buy" rating and set a $4.50 target price on shares of Ceragon Networks in a research report on Tuesday, May 19th. Wall Street Zen raised shares of Ceragon Networks from a "hold" rating to a "strong-buy" rating in a research note on Saturday, May 23rd. Weiss Ratings raised Ceragon Networks from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday, May 26th. Finally, Lake Street Capital started coverage on Ceragon Networks in a report on Tuesday, March 31st. They set a "buy" rating and a $3.50 price objective on the stock. Four investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $3.75.

Ceragon Networks Price Performance

Ceragon Networks stock opened at $2.28 on Wednesday. The business has a fifty day moving average price of $2.61 and a 200-day moving average price of $2.43. Ceragon Networks Ltd. has a 1-year low of $1.82 and a 1-year high of $3.29. The stock has a market capitalization of $207.24 million, a price-to-earnings ratio of -114.00 and a beta of 1.36.

Ceragon Networks (NASDAQ:CRNT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 15th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter. Ceragon Networks had a negative net margin of 0.73% and a positive return on equity of 2.27%. The business had revenue of $85.00 million during the quarter. On average, equities research analysts anticipate that Ceragon Networks Ltd. will post 0.12 earnings per share for the current fiscal year.

Ceragon Networks Company Profile

Ceragon Networks Ltd. is a global provider of wireless backhaul solutions, specializing in high-capacity, low-latency connectivity for mobile operators and private networks. The company designs and manufactures a portfolio of microwave and millimeter-wave equipment that serves as a fiber alternative for carrying voice, data and video traffic between cell sites and core networks. Ceragon's solutions are engineered to support the rigorous performance requirements of modern 4G and 5G deployments, with an emphasis on scalability, reliability and efficient spectrum utilization.

The company's product lineup includes point-to-point and multi-point radio platforms, as well as software-driven network management tools that enable operators to plan, deploy and monitor end-to-end transport networks.

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