Cambium Networks Co. (NASDAQ:CMBM) Receives Average Recommendation of “Buy” from Analysts

Shares of Cambium Networks Co. (NASDAQ:CMBM) have been given an average recommendation of “Buy” by the eleven research firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $60.38.

A number of research firms have recently weighed in on CMBM. Zacks Investment Research lowered shares of Cambium Networks from a “strong-buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research report on Wednesday, July 7th. TheStreet lowered shares of Cambium Networks from a “b-” rating to a “c+” rating in a research report on Thursday, August 19th. Barrington Research reissued a “buy” rating and issued a C$76.00 price objective on shares of Cambium Networks in a research report on Monday, August 23rd. Roth Capital boosted their price objective on shares of Cambium Networks from $64.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, August 10th. Finally, Vertical Research lowered shares of Cambium Networks from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 10th.

In related news, VP Scott Imhoff sold 5,000 shares of the stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $35.69, for a total value of $178,450.00. Following the sale, the vice president now owns 10,037 shares of the company’s stock, valued at approximately $358,220.53. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Sally Rau sold 21,250 shares of the stock in a transaction dated Tuesday, September 7th. The stock was sold at an average price of $36.56, for a total transaction of $776,900.00. Following the completion of the sale, the general counsel now directly owns 11,250 shares in the company, valued at approximately $411,300. The disclosure for this sale can be found here. 66.80% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in CMBM. Balyasny Asset Management LLC acquired a new stake in shares of Cambium Networks in the 2nd quarter worth about $11,255,000. Federated Hermes Inc. increased its stake in Cambium Networks by 158,565.2% during the 1st quarter. Federated Hermes Inc. now owns 182,465 shares of the company’s stock valued at $8,525,000 after buying an additional 182,350 shares during the period. Morgan Stanley increased its stake in Cambium Networks by 428.8% during the 2nd quarter. Morgan Stanley now owns 221,925 shares of the company’s stock valued at $10,730,000 after buying an additional 179,954 shares during the period. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income acquired a new position in Cambium Networks during the 2nd quarter valued at about $6,660,000. Finally, Penserra Capital Management LLC acquired a new position in Cambium Networks during the 2nd quarter valued at about $6,367,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ CMBM traded down $0.70 on Thursday, hitting $34.61. The company’s stock had a trading volume of 1,235 shares, compared to its average volume of 284,169. Cambium Networks has a 12-month low of $15.10 and a 12-month high of $66.40. The company has a market capitalization of $917.48 million, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 1.39 and a beta of 0.49. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.98 and a quick ratio of 1.65. The stock has a 50 day moving average of $38.62 and a 200-day moving average of $46.92.

Cambium Networks (NASDAQ:CMBM) last announced its quarterly earnings results on Sunday, August 8th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.12. Cambium Networks had a net margin of 14.09% and a return on equity of 63.79%. The company had revenue of $92.71 million for the quarter, compared to the consensus estimate of $88.17 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. The company’s revenue for the quarter was up 48.9% compared to the same quarter last year. Sell-side analysts expect that Cambium Networks will post 1.31 EPS for the current fiscal year.

Cambium Networks Company Profile

Cambium Networks Corp. engages in the provision of wireless broadband networking infrastructure solutions for network operators. Its products include point-to-point, enterprise Wi-Fi and switching, CCTV,software, and point-to multipoint. The company was founded in 2011 and is headquartered in Rolling Meadows, IL.

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Analyst Recommendations for Cambium Networks (NASDAQ:CMBM)

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