Northland Securities Maintains a Buy Rating on Cambium Networks (CMBM)

By Ryan Adsit

In a report released today, Tim Savageaux from Northland Securities maintained a Buy rating on Cambium Networks (CMBMResearch Report), with a price target of $31.00. The company’s shares closed last Wednesday at $25.03.

According to TipRanks.com, Savageaux is a 5-star analyst with an average return of 17.9% and a 63.9% success rate. Savageaux covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Applied Optoelectronics, and Communications Systems.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cambium Networks with a $27.14 average price target.

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Based on Cambium Networks’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $72.97 million and net profit of $5.6 million. In comparison, last year the company earned revenue of $65.7 million and had a net profit of $1.96 million.

Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CMBM in relation to earlier this year.

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Cambium Networks Corp. engages in the wireless broadband networking infrastructure services. It serves medium-sized wireless Internet service providers, enterprises and government agencies. The firm operates secure wireless broadband point-to-point and point-to-multipoint platforms. The company was founded in 2011 and is headquartered in Rolling Meadows, IL.