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Westpac Banking Corp. reduced its position in Ceragon Networks Ltd (NASDAQ: CRNT) by 97.5% in the first quarter, reports Holdings Channel. The company held 8,702 shares of the communications equipment provider after selling 333,453 shares during the period. The holdings of Westpac Banking Corp. in Ceragon Networks were worth $ 787,000 as of the most recent SEC filing date.
Several other institutional investors have recently changed their holdings of CRNT. Acadian Asset Management LLC increased its position in Ceragon Networks shares by 0.5% in the first quarter. Acadian Asset Management LLC now holds 3,130,253 shares in the communications equipment provider worth $ 10,234,000 after purchasing 15,385 additional shares during the period. Renaissance Technologies LLC increased its position in Ceragon Networks shares by 12.3% in the fourth quarter. Renaissance Technologies LLC now holds 2,335,470 shares of the company's communications equipment provider worth $ 6,119,000 after purchasing an additional 254,990 shares during the period. Norges Bank purchased a new position in the shares of Ceragon Networks during the fourth quarter worth $ 1,291,000. Oxford Asset Management increased its position in Ceragon Networks shares by 345.1% in the first quarter. Oxford Asset Management now holds 464,213 communications equipment provider shares worth $ 1,518,000 after purchasing an additional 359,910 shares during the period. Finally, Esbad Investment Management Co. LLC increased its position in Ceragon Networks shares by 32.8% in the first quarter. Esbad Investment Management Co. LLC now holds 386,599 shares of the company's communications equipment worth $ 1,264,000 after purchasing 95,473 additional shares during the period. 16.79% of the shares are currently held by institutional investors.
The shares of Ceragon Networks Ltd (NASDAQ: CRNT) fell 1.03% during the session on Friday, reaching $ 2.89. 169,670 shares of the company were exchanged. Ceragon Networks Ltd has a minimum of $ 1.44 in one year and a high of $ 4.23 in one year. The stock has a market capitalization of $ 224.83 million, a capitalization ratio of 19.14 and a beta of 1.20. The company has a 50-day moving average of $ 3.18 and a 200-day moving average of $ 3.17.
Ceragon Networks (NASDAQ: CRNT) last released its quarterly results on Thursday, May 11th. The communications equipment provider reported a $ 0.01 EPS for the quarter, reaching the consensus estimate of $ 0.01. Ceragon Networks reported a return on equity of 6.93% and a net margin of 3.23%. The company achieved a turnover of $ 76.02 million during the quarter, compared to the consensus estimate of $ 74.09 million. During the same period last year, the company earned $ 0.10 per share. The revenue of Ceragon Networks for the quarter increased 27.1% year on year. On average, badysts expect Ceragon Networks Ltd to report earnings per share of $ 0.21 for the current year.
CRNT has been the subject of a number of reports from research badysts. TheStreet upgraded Ceragon Networks shares from a "c" rating to a "b-" rating in a report on Wednesday, February 15th. Zacks Investment Research downgraded Ceragon Networks shares from a "buy" rating to a "hold" note in a report on Tuesday, April 18. Finally, Oppenheimer Holdings Inc. reissued a hold note on Ceragon Networks shares in a report on Thursday, May 11. Ceragon Networks currently has an average rating of "Hold" and a consensus target price of $ 3.25.
Company Profile Ceragon Networks
Ceragon Networks Ltd. offers wireless link solutions. The company's products include the FibeAir IP-20 platform, the FibeAir IP-20 Assured platform and network management. The Corporation provides services to wireless service providers, public safety organizations, government agencies and utility companies, among others. NewView.Widget ({"height": 400, "width": 625, "symbol": "NASDAQ: CRNT", "Interval": "D", "time zone": "Etc / UTC", "theme": "White", "style": "1", "local": "en", "toolbar_bg": "# f1f3f6", "Enable_publishing": false, "hideideas": true, "referral_id": "2588"}) ;
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