Fintel reports that on August 2, 2023, JP Morgan downgraded their outlook for Cambium Networks (NASDAQ:CMBM) from Neutral to Underweight.

Analyst Price Forecast Suggests 131.32% Upside

As of August 2, 2023, the average one-year price target for Cambium Networks is 26.30. The forecasts range from a low of 15.15 to a high of $47.25. The average price target represents an increase of 131.32% from its latest reported closing price of 11.37.

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The projected annual revenue for Cambium Networks is 354MM, an increase of 17.03%. The projected annual non-GAAP EPS is 1.24.

What is the Fund Sentiment?

There are 291 funds or institutions reporting positions in Cambium Networks. This is an increase of 9 owner(s) or 3.19% in the last quarter. Average portfolio weight of all funds dedicated to CMBM is 0.37%, a decrease of 8.67%. Total shares owned by institutions decreased in the last three months by 1.47% to 26,798K shares. The put/call ratio of CMBM is 0.75, indicating a bullish outlook.

What are Other Shareholders Doing?

Vector Capital Management holds 14,326K shares representing 52.27% ownership of the company. No change in the last quarter.

Rice Hall James & Associates holds 914K shares representing 3.34% ownership of the company. In it’s prior filing, the firm reported owning 878K shares, representing an increase of 3.93%. The firm decreased its portfolio allocation in CMBM by 10.68% over the last quarter.

Tributary Capital Management holds 670K shares representing 2.45% ownership of the company. In it’s prior filing, the firm reported owning 681K shares, representing a decrease of 1.57%. The firm decreased its portfolio allocation in CMBM by 18.23% over the last quarter.

Needham Investment Management holds 581K shares representing 2.12% ownership of the company. In it’s prior filing, the firm reported owning 555K shares, representing an increase of 4.57%. The firm decreased its portfolio allocation in CMBM by 18.33% over the last quarter.

AIGH Capital Management holds 531K shares representing 1.94% ownership of the company. In it’s prior filing, the firm reported owning 584K shares, representing a decrease of 9.98%. The firm decreased its portfolio allocation in CMBM by 33.85% over the last quarter.

Cambium Networks Background Information
(This description is provided by the company.)

Cambium Networks delivers wireless communications that work for businesses, communities and cities worldwide. Millions of its radios are deployed to connect people, places and things with a unified wireless fabric that spans multiple standards and frequencies of fixed wireless and Wi-Fi, all managed centrally via the cloud. The Companiy’s multi-gigabit wireless fabric offers a compelling value proposition over traditional fiber and alternative wireless solutions. Cambium Networks works with its Cambium certified ConnectedPartners to deliver purpose-built networks for service provider, enterprise, industrial, and government connectivity solutions in urban, suburban, and rural environments, with wireless that just works.

This article originally appeared on Fintel

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