Aviat Networks, Inc. (NASDAQ:AVNW) Position Reduced by Royce & Associates LP

Royce & Associates LP reduced its position in shares of Aviat Networks, Inc. (NASDAQ:AVNW) by 7.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 644,879 shares of the communications equipment provider’s stock after selling 51,515 shares during the quarter. Royce & Associates LP owned about 5.09% of Aviat Networks worth $11,679,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Hodges Capital Management Inc. grew its holdings in Aviat Networks by 20.9% during the fourth quarter. Hodges Capital Management Inc. now owns 562,710 shares of the communications equipment provider’s stock worth $10,190,000 after acquiring an additional 97,227 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Aviat Networks by 3.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 364,100 shares of the communications equipment provider’s stock worth $7,875,000 after purchasing an additional 11,094 shares during the last quarter. State Street Corp raised its holdings in shares of Aviat Networks by 1.6% in the 3rd quarter. State Street Corp now owns 237,689 shares of the communications equipment provider’s stock worth $5,141,000 after purchasing an additional 3,855 shares in the last quarter. First Eagle Investment Management LLC acquired a new stake in Aviat Networks during the fourth quarter valued at approximately $3,669,000. Finally, Franklin Resources Inc. boosted its holdings in Aviat Networks by 15.3% during the third quarter. Franklin Resources Inc. now owns 170,652 shares of the communications equipment provider’s stock worth $3,853,000 after buying an additional 22,665 shares in the last quarter. 78.62% of the stock is currently owned by institutional investors and hedge funds.

Aviat Networks Price Performance

AVNW opened at $19.06 on Tuesday. The firm has a market capitalization of $241.76 million, a P/E ratio of -95.30 and a beta of 1.67. The stock has a fifty day moving average of $20.42 and a 200-day moving average of $19.86. The company has a quick ratio of 1.37, a current ratio of 1.68 and a debt-to-equity ratio of 0.29. Aviat Networks, Inc. has a 12-month low of $12.96 and a 12-month high of $38.85.

Aviat Networks (NASDAQ:AVNW) last announced its quarterly earnings data on Tuesday, February 4th. The communications equipment provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.57. Aviat Networks had a positive return on equity of 4.33% and a negative net margin of 0.56%. Equities analysts forecast that Aviat Networks, Inc. will post 0.5 EPS for the current fiscal year.

Analysts Set New Price Targets

AVNW has been the subject of a number of recent research reports. StockNews.com upgraded Aviat Networks from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Northland Securities reaffirmed an “outperform” rating and set a $30.00 target price (up from $27.00) on shares of Aviat Networks in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.60.

Aviat Networks 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.