Cambium Networks Co. (NASDAQ:CMBM) Given Consensus Rating of “Buy” by Analysts

Cambium Networks Co. (NASDAQ:CMBM) has earned a consensus recommendation of “Buy” from the nine analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $40.75.

CMBM has been the subject of a number of research reports. The Goldman Sachs Group upgraded Cambium Networks from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $18.00 to $56.00 in a report on Friday, February 19th. Raymond James downgraded shares of Cambium Networks from an “outperform” rating to a “market perform” rating in a research note on Monday, February 1st. Zacks Investment Research raised shares of Cambium Networks from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Monday, February 22nd. Jefferies Financial Group boosted their price target on shares of Cambium Networks from $52.00 to $66.00 in a research note on Wednesday. Finally, Northland Securities raised their price objective on Cambium Networks from $31.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, February 19th.

In other Cambium Networks news, CFO Stephen Cumming sold 37,785 shares of the business’s stock in a transaction on Thursday, March 11th. The shares were sold at an average price of $49.27, for a total transaction of $1,861,666.95. Following the transaction, the chief financial officer now directly owns 75,727 shares of the company’s stock, valued at approximately $3,731,069.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Atul Bhatnagar sold 119,812 shares of the company’s stock in a transaction on Thursday, March 11th. The stock was sold at an average price of $48.20, for a total transaction of $5,774,938.40. Following the completion of the transaction, the chief executive officer now owns 772,218 shares of the company’s stock, valued at $37,220,907.60. The disclosure for this sale can be found here. Insiders sold 177,597 shares of company stock worth $8,550,605 over the last three months. 78.70% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Citigroup Inc. lifted its holdings in Cambium Networks by 297.4% in the fourth quarter. Citigroup Inc. now owns 1,069 shares of the company’s stock worth $27,000 after buying an additional 800 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of Cambium Networks by 71.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 1,742 shares of the company’s stock valued at $29,000 after purchasing an additional 727 shares during the period. NEXT Financial Group Inc bought a new stake in shares of Cambium Networks during the fourth quarter valued at approximately $108,000. O Shaughnessy Asset Management LLC bought a new position in Cambium Networks in the third quarter worth $121,000. Finally, California State Teachers Retirement System increased its stake in shares of Cambium Networks by 23.4% in the 3rd quarter. California State Teachers Retirement System now owns 8,436 shares of the company’s stock worth $142,000 after acquiring an additional 1,599 shares in the last quarter. 12.09% of the stock is owned by institutional investors.

NASDAQ CMBM traded up $6.06 during trading on Thursday, reaching $63.74. The company’s stock had a trading volume of 8,604 shares, compared to its average volume of 313,423. The stock has a market capitalization of $1.66 billion, a PE ratio of 225.97, a P/E/G ratio of 1.90 and a beta of 0.61. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.86 and a quick ratio of 1.48. The firm has a fifty day moving average of $45.83 and a 200 day moving average of $30.90. Cambium Networks has a one year low of $3.57 and a one year high of $59.99.

Cambium Networks (NASDAQ:CMBM) last posted its quarterly earnings data on Wednesday, February 17th. The company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.11. Cambium Networks had a net margin of 2.70% and a return on equity of 21.92%. The firm had revenue of $82.81 million for the quarter, compared to analysts’ expectations of $77.11 million. Research analysts expect that Cambium Networks will post 0.53 earnings per share for the current fiscal year.

Cambium Networks Company Profile

Cambium Networks Corporation, through its subsidiaries, provides wireless broadband networking infrastructure products and solutions for network operators. Its wireless fabric includes intelligent radios, smart antennas, radio frequency (RF) algorithms, wireless-aware switches, and network management software.

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Analyst Recommendations for Cambium Networks (NASDAQ:CMBM)

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