First Eagle Investment Management LLC Trims Position in Ceragon Networks Ltd. (NASDAQ:CRNT)

First Eagle Investment Management LLC trimmed its holdings in shares of Ceragon Networks Ltd. (NASDAQ:CRNT) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 472,433 shares of the communications equipment provider’s stock after selling 10,000 shares during the period. First Eagle Investment Management LLC owned approximately 0.55% of Ceragon Networks worth $2,206,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Commonwealth Equity Services LLC acquired a new position in Ceragon Networks during the fourth quarter valued at $58,000. Bravias Capital Group LLC purchased a new stake in shares of Ceragon Networks in the fourth quarter worth about $71,000. Perigon Wealth Management LLC purchased a new stake in shares of Ceragon Networks in the fourth quarter worth about $90,000. JPMorgan Chase & Co. acquired a new stake in Ceragon Networks during the third quarter worth about $104,000. Finally, XTX Topco Ltd purchased a new position in Ceragon Networks during the third quarter valued at approximately $152,000. 13.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CRNT has been the topic of several recent research reports. Litchfield Hills Research initiated coverage on Ceragon Networks in a research report on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 price objective on the stock. StockNews.com downgraded shares of Ceragon Networks from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Needham & Company LLC restated a “buy” rating and set a $6.00 target price on shares of Ceragon Networks in a research report on Wednesday, February 12th. Finally, Craig Hallum assumed coverage on Ceragon Networks in a report on Thursday. They issued a “buy” rating and a $5.00 price target for the company. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $6.38.

Ceragon Networks Stock Up 5.4 %

CRNT stock opened at $2.73 on Monday. Ceragon Networks Ltd. has a 52 week low of $2.33 and a 52 week high of $5.73. The firm has a 50-day simple moving average of $3.92 and a 200-day simple moving average of $3.51. The stock has a market capitalization of $233.19 million, a P/E ratio of 10.11 and a beta of 1.62.

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.