First Wilshire Securities Management Inc. Has $9.99 Million Stake in Ceragon Networks Ltd. $CRNT

First Wilshire Securities Management Inc. lifted its holdings in shares of Ceragon Networks Ltd. (NASDAQ:CRNT) by 23.6% during the second quarter, HoldingsChannel reports. The firm owned 4,058,774 shares of the communications equipment provider’s stock after acquiring an additional 775,782 shares during the quarter. Ceragon Networks comprises 2.7% of First Wilshire Securities Management Inc.’s holdings, making the stock its 12th largest holding. First Wilshire Securities Management Inc.’s holdings in Ceragon Networks were worth $9,985,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Axis Wealth Partners LLC bought a new stake in Ceragon Networks during the 2nd quarter worth approximately $26,000. Bank of Montreal Can acquired a new position in shares of Ceragon Networks in the second quarter valued at approximately $35,000. Worth Venture Partners LLC bought a new stake in shares of Ceragon Networks during the first quarter worth $47,000. State of Wyoming bought a new stake in shares of Ceragon Networks during the first quarter worth $58,000. Finally, Wedbush Securities Inc. raised its holdings in shares of Ceragon Networks by 58.4% during the second quarter. Wedbush Securities Inc. now owns 23,664 shares of the communications equipment provider’s stock worth $58,000 after acquiring an additional 8,727 shares during the period. Institutional investors own 13.31% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Zacks Research raised shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Needham & Company LLC restated a “buy” rating and issued a $3.00 price target on shares of Ceragon Networks in a report on Wednesday, November 12th. Finally, Weiss Ratings upgraded Ceragon Networks from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, December 1st. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Ceragon Networks presently has an average rating of “Moderate Buy” and an average target price of $4.00.

Ceragon Networks Trading Up 0.5%

Shares of CRNT stock opened at $1.99 on Monday. The firm’s fifty day moving average price is $2.28 and its two-hundred day moving average price is $2.26. Ceragon Networks Ltd. has a 1 year low of $1.82 and a 1 year high of $5.73. The firm has a market capitalization of $176.97 million, a P/E ratio of 99.55 and a beta of 1.07.

Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings data on Wednesday, November 12th. The communications equipment provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). The company had revenue of $85.48 million during the quarter, compared to the consensus estimate of $83.48 million. Ceragon Networks had a net margin of 0.38% and a return on equity of 6.67%. As a group, equities research analysts forecast that Ceragon Networks Ltd. will post 0.26 EPS for the current fiscal year.

About Ceragon Networks

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.