Royce & Associates LP Buys 51,000 Shares of Aviat Networks, Inc. $AVNW

Royce & Associates LP grew its stake in shares of Aviat Networks, Inc. (NASDAQ:AVNW) by 8.5% in the fourth quarter, Holdings Channel reports. The fund owned 648,235 shares of the communications equipment provider’s stock after acquiring an additional 51,000 shares during the quarter. Royce & Associates LP owned 0.05% of Aviat Networks worth $13,859,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Fisher Asset Management LLC purchased a new stake in shares of Aviat Networks during the 4th quarter valued at approximately $678,000. Covestor Ltd purchased a new stake in shares of Aviat Networks during the 4th quarter valued at approximately $304,000. Pacific Ridge Capital Partners LLC lifted its stake in shares of Aviat Networks by 19.3% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 371,258 shares of the communications equipment provider’s stock valued at $7,937,000 after buying an additional 60,004 shares in the last quarter. Western Standard LLC lifted its stake in shares of Aviat Networks by 84.5% during the 4th quarter. Western Standard LLC now owns 494,238 shares of the communications equipment provider’s stock valued at $10,567,000 after buying an additional 226,332 shares in the last quarter. Finally, Weber Capital Management LLC ADV purchased a new stake in shares of Aviat Networks during the 4th quarter valued at approximately $3,099,000. 78.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on AVNW shares. Wall Street Zen cut shares of Aviat Networks from a “buy” rating to a “hold” rating in a research note on Sunday, April 26th. Citizens Jmp lowered their target price on shares of Aviat Networks from $30.00 to $25.00 and set a “market outperform” rating on the stock in a research note on Wednesday, May 6th. B. Riley Financial reiterated a “buy” rating and issued a $36.00 target price (up from $35.00) on shares of Aviat Networks in a research note on Wednesday, February 4th. Zacks Research cut shares of Aviat Networks from a “hold” rating to a “strong sell” rating in a research note on Friday, May 8th. Finally, Northland Securities reiterated a “market perform” rating and issued a $20.00 target price on shares of Aviat Networks in a research note on Tuesday, May 5th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Aviat Networks has an average rating of “Hold” and a consensus price target of $30.00.

Aviat Networks Price Performance

Shares of NASDAQ:AVNW opened at $17.98 on Thursday. The company’s fifty day moving average price is $20.55 and its 200-day moving average price is $21.99. The firm has a market capitalization of $232.66 million, a price-to-earnings ratio of 26.06 and a beta of 0.82. Aviat Networks, Inc. has a one year low of $13.92 and a one year high of $27.02. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.99 and a quick ratio of 1.67.

Aviat Networks (NASDAQ:AVNW) last issued its quarterly earnings results on Monday, May 4th. The communications equipment provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.36). The company had revenue of $100.00 million during the quarter, compared to the consensus estimate of $106.39 million. Aviat Networks had a return on equity of 6.89% and a net margin of 2.08%. On average, equities research analysts anticipate that Aviat Networks, Inc. will post 1.19 earnings per share for the current fiscal year.

About Aviat Networks

Aviat Networks, Inc is a specialist in wireless transport solutions, designing, manufacturing and selling microwave networking products that enable the secure and reliable transmission of data, voice and video. The company’s offerings address mission-critical communications needs for a broad range of end markets, including telecommunications service providers, utilities, government agencies and enterprises. Its product portfolio spans high-capacity packet microwave radios, IP transport systems and network management software.

Aviat’s core product lines include the WTM series of packet microwave platforms, which deliver scalable throughput and advanced resilience features, and the Eclipse packet microwave systems, which combine broadband capacity with synchronization, security and quality-of-service capabilities.