Lazard Asset Management LLC Purchases 120,106 Shares of Ceragon Networks Ltd. (NASDAQ:CRNT)

Lazard Asset Management LLC grew its holdings in shares of Ceragon Networks Ltd. (NASDAQ:CRNT - Free Report) by 26.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 570,288 shares of the communications equipment provider's stock after acquiring an additional 120,106 shares during the period. Lazard Asset Management LLC owned 0.67% of Ceragon Networks worth $2,663,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Penn Capital Management Company LLC acquired a new stake in Ceragon Networks during the 4th quarter worth about $54,000. Commonwealth Equity Services LLC acquired a new stake in shares of Ceragon Networks in the 4th quarter valued at about $58,000. Bravias Capital Group LLC acquired a new stake in shares of Ceragon Networks in the 4th quarter valued at about $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Ceragon Networks in the 4th quarter valued at about $81,000. Finally, Perigon Wealth Management LLC acquired a new stake in shares of Ceragon Networks in the 4th quarter valued at about $90,000. 13.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CRNT. Needham & Company LLC reduced their target price on Ceragon Networks from $6.00 to $4.50 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Wall Street Zen downgraded Ceragon Networks from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Craig Hallum initiated coverage on Ceragon Networks in a research note on Thursday, March 13th. They issued a "buy" rating and a $5.00 target price for the company. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Ceragon Networks currently has a consensus rating of "Buy" and a consensus target price of $6.00.

Ceragon Networks Stock Up 1.1%

CRNT stock traded up $0.03 during mid-day trading on Thursday, reaching $2.35. 112,728 shares of the company traded hands, compared to its average volume of 1,072,435. The stock has a market cap of $208.63 million, a price-to-earnings ratio of 8.72 and a beta of 1.04. Ceragon Networks Ltd. has a fifty-two week low of $1.95 and a fifty-two week high of $5.73. The firm's 50 day moving average price is $2.28 and its 200 day moving average price is $3.36.

Ceragon Networks (NASDAQ:CRNT - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.02. Ceragon Networks had a return on equity of 21.32% and a net margin of 6.10%. On average, analysts anticipate that Ceragon Networks Ltd. will post 0.26 EPS for the current fiscal year.

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.