Fintel reports that on October 10, 2023, JP Morgan maintained coverage of Cambium Networks (NASDAQ:CMBM) with a Underweight recommendation.
Analyst Price Forecast Suggests 185.91% Upside
As of October 4, 2023, the average one-year price target for Cambium Networks is 16.61. The forecasts range from a low of 12.12 to a high of $26.25. The average price target represents an increase of 185.91% from its latest reported closing price of 5.81.
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The projected annual revenue for Cambium Networks is 354MM, an increase of 17.03%. The projected annual non-GAAP EPS is 1.24.
What is the Fund Sentiment?
There are 286 funds or institutions reporting positions in Cambium Networks. This is a decrease of 1 owner(s) or 0.35% in the last quarter. Average portfolio weight of all funds dedicated to CMBM is 0.33%, a decrease of 10.75%. Total shares owned by institutions increased in the last three months by 1.32% to 27,103K shares. 
The put/call ratio of CMBM is 0.12, indicating a bullish outlook.
What are Other Shareholders Doing?
Vector Capital Management holds 14,326K shares representing 51.89% ownership of the company. No change in the last quarter.
Rice Hall James & Associates holds 914K shares representing 3.31% ownership of the company. In it's prior filing, the firm reported owning 878K shares, representing an increase of 3.93%. The firm decreased its portfolio allocation in CMBM by 10.68% over the last quarter.
Tributary Capital Management holds 670K shares representing 2.43% ownership of the company. In it's prior filing, the firm reported owning 681K shares, representing a decrease of 1.57%. The firm decreased its portfolio allocation in CMBM by 18.23% over the last quarter.
Needham Investment Management holds 646K shares representing 2.34% ownership of the company. In it's prior filing, the firm reported owning 581K shares, representing an increase of 10.06%. The firm increased its portfolio allocation in CMBM by 104.84% over the last quarter.
NESGX - Needham Small Cap Growth Fund Retail Class holds 450K shares representing 1.63% ownership of the company. In it's prior filing, the firm reported owning 385K shares, representing an increase of 14.44%. The firm increased its portfolio allocation in CMBM by 13.34% over the last quarter.
Cambium Networks Background Information
(This description is provided by the company.)
Cambium Networks delivers wireless communications that work for businesses, communities and cities worldwide. Millions of its radios are deployed to connect people, places and things with a unified wireless fabric that spans multiple standards and frequencies of fixed wireless and Wi-Fi, all managed centrally via the cloud. The Companiy's multi-gigabit wireless fabric offers a compelling value proposition over traditional fiber and alternative wireless solutions. Cambium Networks works with its Cambium certified ConnectedPartners to deliver purpose-built networks for service provider, enterprise, industrial, and government connectivity solutions in urban, suburban, and rural environments, with wireless that just works.
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This story originally appeared on Fintel.
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