Cambium Networks (NASDAQ:CMBM) Given New $70.00 Price Target at JMP Securities

Cambium Networks (NASDAQ:CMBM) had its price objective lifted by stock analysts at JMP Securities from $47.00 to $70.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price objective points to a potential upside of 22.19% from the company’s previous close.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group upgraded shares of Cambium Networks from a “neutral” rating to a “buy” rating and lifted their target price for the company from $18.00 to $56.00 in a report on Friday, February 19th. Raymond James cut Cambium Networks from an “outperform” rating to a “market perform” rating in a research report on Monday, February 1st. Jefferies Financial Group lifted their price objective on Cambium Networks from $52.00 to $66.00 in a report on Wednesday, April 7th. Northland Securities increased their price objective on shares of Cambium Networks from $31.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, February 19th. Finally, Zacks Investment Research raised Cambium Networks from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Monday, February 22nd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $43.67.

Shares of CMBM opened at $57.29 on Tuesday. The stock has a market capitalization of $1.51 billion, a P/E ratio of 212.19, a PEG ratio of 1.90 and a beta of 0.61. The firm has a fifty day simple moving average of $54.52 and a two-hundred day simple moving average of $36.50. The company has a quick ratio of 1.48, a current ratio of 1.86 and a debt-to-equity ratio of 0.93. Cambium Networks has a twelve month low of $3.57 and a twelve month high of $66.40.

Cambium Networks (NASDAQ:CMBM) last released its quarterly earnings results on Wednesday, February 17th. The company reported $0.38 earnings per share for the quarter, beating the 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 business had revenue of $82.81 million for the quarter, compared to analysts’ expectations of $77.11 million. Sell-side analysts expect that Cambium Networks will post 0.53 EPS for the current fiscal year.

In other Cambium Networks news, VP Vibhu Vivek sold 20,000 shares of the stock in a transaction dated Wednesday, March 10th. The shares were sold at an average price of $45.70, for a total transaction of $914,000.00. Following the completion of the sale, the vice president now directly owns 111,083 shares of the company’s stock, valued at $5,076,493.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Atul Bhatnagar sold 119,812 shares of the stock in a transaction dated Thursday, March 11th. The shares were sold at an average price of $48.20, for a total transaction of $5,774,938.40. Following the sale, the chief executive officer now directly owns 772,218 shares of the company’s stock, valued at $37,220,907.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 177,597 shares of company stock worth $8,550,605. Company insiders own 78.70% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CMBM. Strs Ohio lifted its position in shares of Cambium Networks by 1,509.1% during the fourth quarter. Strs Ohio now owns 17,700 shares of the company’s stock valued at $443,000 after buying an additional 16,600 shares during the last quarter. Kornitzer Capital Management Inc. KS purchased a new position in shares of Cambium Networks in the 4th quarter valued at approximately $11,467,000. Victory Capital Management Inc. purchased a new position in shares of Cambium Networks in the 4th quarter valued at approximately $1,353,000. Campbell Newman Asset Management Inc. purchased a new position in shares of Cambium Networks in the 4th quarter valued at approximately $980,000. Finally, AE Wealth Management LLC purchased a new position in shares of Cambium Networks in the 4th quarter valued at approximately $533,000. 12.09% of the stock is owned by institutional investors and hedge funds.

About Cambium Networks

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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