Legato Capital Management LLC Sells 99,602 Shares of Ceragon Networks Ltd. (NASDAQ:CRNT)

Legato Capital Management LLC trimmed its holdings in shares of Ceragon Networks Ltd. (NASDAQ:CRNT) by 23.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 329,377 shares of the communications equipment provider’s stock after selling 99,602 shares during the period. Legato Capital Management LLC’s holdings in Ceragon Networks were worth $1,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in CRNT. Walleye Capital LLC lifted its position in shares of Ceragon Networks by 95.1% in the 3rd quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock worth $778,000 after purchasing an additional 138,411 shares during the period. Inspire Investing LLC purchased a new position in Ceragon Networks during the fourth quarter valued at approximately $903,000. JPMorgan Chase & Co. bought a new position in Ceragon Networks in the third quarter worth approximately $104,000. Perigon Wealth Management LLC purchased a new stake in Ceragon Networks during the fourth quarter worth $90,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Ceragon Networks during the 2nd quarter valued at $56,000. Hedge funds and other institutional investors own 13.31% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CRNT. Roth Capital raised Ceragon Networks to a “strong-buy” rating in a research report on Monday, October 28th. Litchfield Hills Research started coverage on shares of Ceragon Networks in a research report on Tuesday, December 3rd. They set a “buy” rating and a $10.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Ceragon Networks in a research report on Wednesday. Finally, Roth Mkm started coverage on shares of Ceragon Networks in a research note on Monday, October 28th. They set a “buy” rating and a $4.50 price objective for the company. Three analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $6.83.

Ceragon Networks Price Performance

Shares of CRNT stock opened at $3.52 on Thursday. The stock’s fifty day moving average price is $4.68 and its 200 day moving average price is $3.49. Ceragon Networks Ltd. has a 1-year low of $2.33 and a 1-year high of $5.73. The company has a market cap of $300.68 million, a price-to-earnings ratio of 16.00 and a beta of 1.59.

About Ceragon Networks

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.