Hodges Capital Management Inc. Cuts Stock Position in Aviat Networks, Inc. (NASDAQ:AVNW)

Hodges Capital Management Inc. trimmed its position in shares of Aviat Networks, Inc. (NASDAQ:AVNW) by 10.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 202,170 shares of the communications equipment provider’s stock after selling 23,340 shares during the quarter. Hodges Capital Management Inc. owned 1.61% of Aviat Networks worth $7,751,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AVNW. Intrinsic Edge Capital Management LLC increased its position in shares of Aviat Networks by 80.9% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 67,100 shares of the communications equipment provider’s stock worth $2,191,000 after acquiring an additional 30,000 shares during the period. Tower Research Capital LLC TRC increased its holdings in Aviat Networks by 582.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,349 shares of the communications equipment provider’s stock worth $77,000 after purchasing an additional 2,005 shares during the period. Campbell & CO Investment Adviser LLC increased its holdings in Aviat Networks by 39.1% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 23,664 shares of the communications equipment provider’s stock worth $773,000 after purchasing an additional 6,648 shares during the period. Millrace Asset Group Inc. acquired a new stake in Aviat Networks in the 4th quarter valued at about $1,617,000. Finally, Trexquant Investment LP purchased a new position in shares of Aviat Networks in the 4th quarter valued at about $569,000. 78.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AVNW. B. Riley decreased their price target on shares of Aviat Networks from $59.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. StockNews.com upgraded shares of Aviat Networks from a “hold” rating to a “buy” rating in a research note on Friday, June 14th.

Insider Activity at Aviat Networks

In related news, CEO Pete A. Smith purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average cost of $30.70 per share, with a total value of $30,700.00. Following the completion of the acquisition, the chief executive officer now directly owns 242,199 shares in the company, valued at $7,435,509.30. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 5.70% of the stock is currently owned by insiders.

Aviat Networks Stock Up 0.8 %

Shares of NASDAQ AVNW traded up $0.24 during mid-day trading on Friday, reaching $28.69. The company had a trading volume of 239,553 shares, compared to its average volume of 49,769. The firm has a 50 day simple moving average of $30.77 and a two-hundred day simple moving average of $32.62. Aviat Networks, Inc. has a 52-week low of $25.08 and a 52-week high of $38.85. The company has a current ratio of 2.12, a quick ratio of 1.79 and a debt-to-equity ratio of 0.18. The stock has a market cap of $360.35 million, a P/E ratio of 25.39 and a beta of 1.78.

Aviat Networks (NASDAQ:AVNW) last released its quarterly earnings results on Wednesday, May 1st. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Aviat Networks had a return on equity of 14.54% and a net margin of 3.54%. The firm had revenue of $111.61 million for the quarter, compared to analysts’ expectations of $113.56 million. During the same quarter in the prior year, the business earned $0.61 EPS. Sell-side analysts predict that Aviat Networks, Inc. will post 2.84 earnings per share for the current year.

Aviat Networks Company Profile

Aviat Networks, Inc provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific. The company offers outdoor, indoor, and split-mount radios; microwave routers, switches, and trunking; and private LTE, virtual fiber, and element management products; and hosted software products, such as aviat design, frequency assurance software, and health assurance software.