Cambium Networks (NASDAQ:CMBM) Stock Price Up 6.9%

Cambium Networks Co. (NASDAQ:CMBM) rose 6.9% during trading on Wednesday . The stock traded as high as $49.70 and last traded at $49.70. Approximately 8,092 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 324,079 shares. The stock had previously closed at $46.49.

CMBM has been the subject of several research reports. Barrington Research initiated coverage on shares of Cambium Networks in a report on Wednesday. They issued an “outperform” rating and a $75.00 price target for the company. JMP Securities lifted their price target on shares of Cambium Networks from $47.00 to $70.00 and gave the company a “market outperform” rating in a report on Wednesday, April 28th. Jefferies Financial Group lifted their price target on shares of Cambium Networks from $52.00 to $66.00 in a report on Wednesday, April 7th. Finally, The Goldman Sachs Group lifted their price objective on shares of Cambium Networks from $67.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, May 7th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $48.60.

The company has a market cap of $1.33 billion, a P/E ratio of 35.49, a P/E/G ratio of 1.89 and a beta of 0.56. The company has a 50-day moving average price of $52.69. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.73 and a quick ratio of 1.40.

Cambium Networks (NASDAQ:CMBM) last released its quarterly earnings results on Thursday, May 6th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.08. Cambium Networks had a net margin of 12.81% and a return on equity of 64.87%. The company had revenue of $88.52 million for the quarter, compared to the consensus estimate of $83.07 million. During the same period in the previous year, the firm earned $0.05 EPS. Cambium Networks’s revenue was up 46.5% on a year-over-year basis. Equities research analysts expect that Cambium Networks Co. will post 1.27 EPS for the current fiscal year.

In related news, Director Alexander R. Slusky sold 2,000,000 shares of the business’s stock in a transaction that occurred on Monday, June 7th. The shares were sold at an average price of $46.08, for a total value of $92,160,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Graaf Raymond De sold 574 shares of the business’s stock in a transaction that occurred on Wednesday, June 16th. The stock was sold at an average price of $47.62, for a total transaction of $27,333.88. Following the completion of the sale, the vice president now owns 28,215 shares in the company, valued at $1,343,598.30. The disclosure for this sale can be found here. Insiders sold a total of 2,052,012 shares of company stock worth $95,076,501 over the last quarter. Insiders own 66.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Wisconsin Investment Board purchased a new position in shares of Cambium Networks in the fourth quarter worth approximately $314,000. BlackRock Inc. increased its position in shares of Cambium Networks by 47.7% in the fourth quarter. BlackRock Inc. now owns 396,540 shares of the company’s stock worth $9,946,000 after acquiring an additional 128,070 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Cambium Networks in the fourth quarter worth approximately $433,000. New York State Common Retirement Fund increased its position in shares of Cambium Networks by 46.1% in the fourth quarter. New York State Common Retirement Fund now owns 40,900 shares of the company’s stock worth $1,026,000 after acquiring an additional 12,900 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Cambium Networks by 32.8% in the fourth quarter. Bank of New York Mellon Corp now owns 15,747 shares of the company’s stock worth $394,000 after acquiring an additional 3,889 shares in the last quarter. Institutional investors and hedge funds own 87.12% of the company’s stock.

Cambium Networks Company Profile (NASDAQ:CMBM)

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.

Featured Story: Buy-Side Analysts

Receive News & Ratings for Cambium Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cambium Networks and related companies with MarketBeat.com's FREE daily email newsletter.