Legato Capital Management LLC Lowers Stake in Ceragon Networks Ltd. (NASDAQ:CRNT)

Legato Capital Management LLC lessened its position in shares of Ceragon Networks Ltd. (NASDAQ:CRNT - Free Report) by 23.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 329,377 shares of the communications equipment provider's stock after selling 99,602 shares during the period. Legato Capital Management LLC owned approximately 0.39% of Ceragon Networks worth $1,538,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Walleye Capital LLC increased its holdings 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 buying an additional 138,411 shares during the last quarter. Inspire Investing LLC purchased a new stake in Ceragon Networks during the 4th quarter valued at $903,000. XTX Topco Ltd purchased a new stake in Ceragon Networks during the 3rd quarter valued at $152,000. JPMorgan Chase & Co. purchased a new stake in Ceragon Networks during the 3rd quarter valued at $104,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Ceragon Networks during the 2nd quarter valued at $56,000. Institutional investors own 13.31% of the company's stock.

Analyst Ratings Changes

CRNT has been the subject of several analyst reports. Roth Capital raised shares of Ceragon Networks to a "strong-buy" rating in a research report on Monday, October 28th. Litchfield Hills Research assumed coverage on shares of Ceragon Networks in a research report on Tuesday, December 3rd. They issued a "buy" rating and a $10.00 target price for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $6.00 target price on shares of Ceragon Networks in a research report on Wednesday. StockNews.com cut shares of Ceragon Networks from a "strong-buy" rating to a "buy" rating in a research report on Thursday. Finally, Roth Mkm began coverage on shares of Ceragon Networks in a research note on Monday, October 28th. They issued a "buy" rating and a $4.50 price target for the company. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Ceragon Networks currently has an average rating of "Buy" and a consensus price target of $6.83.

Ceragon Networks Stock Performance

Shares of Ceragon Networks stock traded down $0.08 during trading on Friday, hitting $3.46. The company's stock had a trading volume of 2,003,814 shares, compared to its average volume of 1,752,991. The company has a market capitalization of $295.55 million, a PE ratio of 15.73 and a beta of 1.59. Ceragon Networks Ltd. has a 52 week low of $2.33 and a 52 week high of $5.73. The company has a fifty day simple moving average of $4.65 and a two-hundred day simple moving average of $3.50.

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.