Goldman Sachs Group Inc. Has $31,000 Stock Holdings in Ceragon Networks Ltd. $CRNT

Key Points

• Goldman Sachs Group Inc. significantly reduced its holdings in Ceragon Networks Ltd. by 91.7%, now owning only 13,179 shares worth approximately $31,000.
• Other institutional investors have increased their positions in Ceragon Networks, with notable boosts from Two Sigma Advisers LP and Two Sigma Investments LP, reflecting growing interest in the company.
• Analyst ratings for Ceragon Networks indicate a consensus "Buy" rating, with a current average target price of $5.30 despite a recent price target reduction by Roth Capital.

Goldman Sachs Group Inc. lowered its holdings in shares of Ceragon Networks Ltd. (NASDAQ:CRNT - Free Report) by 91.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,179 shares of the communications equipment provider's stock after selling 144,836 shares during the quarter. Goldman Sachs Group Inc.'s holdings in Ceragon Networks were worth $31,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new position in Ceragon Networks during the first quarter worth $983,000. Two Sigma Advisers LP lifted its holdings in Ceragon Networks by 404.9% in the 4th quarter. Two Sigma Advisers LP now owns 71,700 shares of the communications equipment provider's stock worth $335,000 after purchasing an additional 57,500 shares during the last quarter. Two Sigma Investments LP boosted its position in Ceragon Networks by 951.7% during the fourth quarter. Two Sigma Investments LP now owns 296,588 shares of the communications equipment provider's stock worth $1,385,000 after purchasing an additional 268,388 shares during the period. State of Wyoming acquired a new position in Ceragon Networks during the first quarter valued at approximately $58,000. Finally, First Wilshire Securities Management Inc. grew its holdings in Ceragon Networks by 11.4% during the first quarter. First Wilshire Securities Management Inc. now owns 3,282,992 shares of the communications equipment provider's stock valued at $7,715,000 after purchasing an additional 336,646 shares during the last quarter. Institutional investors and hedge funds own 13.31% of the company's stock.

Wall Street Analyst Weigh In

CRNT has been the subject of a number of analyst reports. Roth Capital reduced their price objective on shares of Ceragon Networks from $5.00 to $4.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Needham & Company LLC restated a "buy" rating and set a $3.00 price target on shares of Ceragon Networks in a report on Thursday, September 18th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $5.30.

Ceragon Networks Trading Down 0.4%

NASDAQ CRNT opened at $2.33 on Wednesday. Ceragon Networks Ltd. has a 1-year low of $1.82 and a 1-year high of $5.73. The company has a market capitalization of $207.21 million, a price-to-earnings ratio of 14.56 and a beta of 1.08. The stock's 50 day moving average is $2.13 and its two-hundred day moving average is $2.26.

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.

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