Fintel reports that on December 3, 2024, Litchfield Hills initiated coverage of Ceragon Networks (NasdaqGS:CRNT) with a Buy recommendation.
Analyst Price Forecast Suggests 16.31% Upside
As of December 3, 2024, the average one-year price target for Ceragon Networks is $5.10/share. The forecasts range from a low of $4.54 to a high of $6.30. The average price target represents an increase of 16.31% from its latest reported closing price of $4.38 / share.
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The projected annual revenue for Ceragon Networks is 343MM, a decrease of 9.08%. The projected annual non-GAAP EPS is 0.18.
What is the Fund Sentiment?
There are 100 funds or institutions reporting positions in Ceragon Networks. This is an increase of 8 owner(s) or 8.70% in the last quarter. Average portfolio weight of all funds dedicated to CRNT is 0.07%, an increase of 20.18%. Total shares owned by institutions increased in the last three months by 8.85% to 15,549K shares. 
The put/call ratio of CRNT is 0.04, indicating a bullish outlook.
What are Other Shareholders Doing?
First Wilshire Securities Management holds 2,982K shares representing 3.47% ownership of the company. In its prior filing, the firm reported owning 2,993K shares , representing a decrease of 0.37%. The firm increased its portfolio allocation in CRNT by 0.31% over the last quarter.
Acadian Asset Management holds 2,660K shares representing 3.10% ownership of the company. In its prior filing, the firm reported owning 1,955K shares , representing an increase of 26.51%. The firm increased its portfolio allocation in CRNT by 50.40% over the last quarter.
Essex Investment Management Co holds 1,251K shares representing 1.46% ownership of the company. In its prior filing, the firm reported owning 1,248K shares , representing an increase of 0.27%. The firm increased its portfolio allocation in CRNT by 2.43% over the last quarter.
Renaissance Technologies holds 907K shares representing 1.06% ownership of the company. In its prior filing, the firm reported owning 644K shares , representing an increase of 28.98%. The firm increased its portfolio allocation in CRNT by 36.83% over the last quarter.
Arrowstreet Capital, Limited Partnership holds 696K shares representing 0.81% ownership of the company. In its prior filing, the firm reported owning 844K shares , representing a decrease of 21.27%. The firm decreased its portfolio allocation in CRNT by 12.53% over the last quarter.
Ceragon Networks Background Information
(This description is provided by the company.)
Ceragon Networks Ltd. is the global leader in wireless hauling solutions. The company helps operators and other service providers worldwide increase operational efficiency and enhance end customers' quality of experience with innovative wireless backhaul and fronthaul solutions. Its customers include wireless service providers, public safety organizations, government agencies and utility companies, which use its solutions to deliver 5G & 4G, mission-critical multimedia services and other applications at high reliability and speed. Ceragon's unique multicore technology and disaggregated approach to wireless hauling provides highly reliable, fast to deploy, high-capacity wireless hauling for 5G and 4G networks with minimal use of spectrum, power and other resources. It enables increased productivity, as well as simple and quick network modernization, positioning Ceragon as a leading solutions provider for the 5G era. The Company delivers a range of professional services that ensure efficient network rollout and optimization to achieve the highest value for its customers. Its solutions are deployed by more than 400 service providers, as well as hundreds of private network owners, in more than 150 countries.
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This story originally appeared on Fintel.
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