Zacks Investment Research cut shares of Ceragon Networks (NASDAQ:CRNT) from a buy rating to a hold rating in a research report released on Monday.

According to Zacks, “Ceragon Networks Ltd. is a leading provider of high-capacity wireless backhaul solutions for cellular and fixed wireless operators, enterprises and government organizations. Ceragon’s modular FibeAir product family is recognized as the gold standard for backhaul transmission and is also one of the top solutions chosen by cellular operators for SONET/SDH rings. A scalable, future-proof solution for wireless transport of broadband services, FibeAir operates across multiple frequencies for IP and SONET/SDH protocols, supporting the emerging needs of next-generation networks that are evolving to all-IP based services, including triple-play. It leads the market in IP backhaul, offering a unique, native IP solution that provides the efficient, robust connectivity required for WiFi, WiMAX and converged networks. “

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Separately, Oppenheimer reiterated a hold rating on shares of Ceragon Networks in a research note on Monday, February 12th.

CRNT stock opened at $2.67 on Monday. The stock has a market capitalization of $209.39, a P/E ratio of 14.83 and a beta of 0.64. Ceragon Networks has a 1-year low of $1.64 and a 1-year high of $3.65.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings data on Monday, February 12th. The communications equipment provider reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $86.70 million during the quarter, compared to the consensus estimate of $75.21 million. Ceragon Networks had a return on equity of 11.57% and a net margin of 4.69%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 earnings per share. research analysts anticipate that Ceragon Networks will post 0.2 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. First Wilshire Securities Management Inc. purchased a new position in Ceragon Networks in the fourth quarter valued at about $1,319,000. Two Sigma Advisers LP grew its stake in Ceragon Networks by 155.3% in the fourth quarter. Two Sigma Advisers LP now owns 86,300 shares of the communications equipment provider’s stock valued at $171,000 after purchasing an additional 52,500 shares during the last quarter. Deutsche Bank AG purchased a new position in Ceragon Networks in the fourth quarter valued at about $275,000. Renaissance Technologies LLC grew its stake in Ceragon Networks by 10.3% in the fourth quarter. Renaissance Technologies LLC now owns 2,758,880 shares of the communications equipment provider’s stock valued at $5,463,000 after purchasing an additional 257,180 shares during the last quarter. Finally, ARK Investment Management LLC purchased a new position in Ceragon Networks in the fourth quarter valued at about $245,000. Institutional investors own 16.90% of the company’s stock.

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About Ceragon Networks

Ceragon Networks Ltd. offers wireless backhaul solutions. The Company’s products include FibeAir IP-20 Platform, FibeAir IP-20 Assured Platform and Network Management. The Company provides its services to wireless service providers, public safety organizations, government agencies and utility companies, among others.

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