Aviat Networks, Inc. $AVNW Shares Acquired by Pacific Ridge Capital Partners LLC

Pacific Ridge Capital Partners LLC lifted its position in shares of Aviat Networks, Inc. (NASDAQ:AVNW) by 34.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 311,254 shares of the communications equipment provider’s stock after purchasing an additional 79,774 shares during the period. Aviat Networks comprises approximately 1.6% of Pacific Ridge Capital Partners LLC’s portfolio, making the stock its 22nd largest position. Pacific Ridge Capital Partners LLC owned approximately 2.42% of Aviat Networks worth $7,137,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. White Pine Capital LLC raised its stake in Aviat Networks by 95.4% in the third quarter. White Pine Capital LLC now owns 54,926 shares of the communications equipment provider’s stock valued at $1,259,000 after buying an additional 26,813 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Aviat Networks by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 700,233 shares of the communications equipment provider’s stock valued at $16,056,000 after acquiring an additional 8,179 shares during the last quarter. State of Wyoming acquired a new stake in shares of Aviat Networks during the 3rd quarter worth about $63,000. AlphaQuest LLC raised its position in shares of Aviat Networks by 69.2% during the 3rd quarter. AlphaQuest LLC now owns 3,810 shares of the communications equipment provider’s stock worth $87,000 after acquiring an additional 1,558 shares in the last quarter. Finally, Acuitas Investments LLC lifted its stake in Aviat Networks by 100.1% during the third quarter. Acuitas Investments LLC now owns 63,377 shares of the communications equipment provider’s stock worth $1,453,000 after purchasing an additional 31,700 shares during the last quarter. Hedge funds and other institutional investors own 78.62% of the company’s stock.

Aviat Networks Price Performance

Shares of NASDAQ:AVNW opened at $24.73 on Thursday. Aviat Networks, Inc. has a one year low of $15.80 and a one year high of $27.02. The stock has a market capitalization of $319.02 million, a price-to-earnings ratio of 22.08 and a beta of 0.96. The company has a 50-day simple moving average of $22.76 and a 200-day simple moving average of $22.66. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.56 and a current ratio of 1.85.

Aviat Networks (NASDAQ:AVNW) last issued its quarterly earnings results on Tuesday, February 3rd. The communications equipment provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. The firm had revenue of $111.47 million for the quarter, compared to analysts’ expectations of $109.67 million. Aviat Networks had a return on equity of 10.71% and a net margin of 3.27%. On average, analysts predict that Aviat Networks, Inc. will post 0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AVNW. Weiss Ratings reiterated a “hold (c-)” rating on shares of Aviat Networks in a research note on Monday, December 29th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $30.00 target price on shares of Aviat Networks in a research report on Wednesday, February 4th. Zacks Research raised shares of Aviat Networks from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. Wall Street Zen lowered Aviat Networks from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Roth Mkm reduced their target price on Aviat Networks from $41.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.

Insider Buying and Selling

In other news, SVP Gary Croke sold 6,914 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $26.20, for a total transaction of $181,146.80. Following the completion of the sale, the senior vice president owned 43,868 shares in the company, valued at $1,149,341.60. This represents a 13.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Pete A. Smith sold 17,086 shares of Aviat Networks stock in a transaction on Monday, February 9th. The shares were sold at an average price of $26.33, for a total transaction of $449,874.38. Following the completion of the transaction, the chief executive officer owned 358,747 shares in the company, valued at approximately $9,445,808.51. This trade represents a 4.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 5.30% of the company’s stock.

Aviat Networks Profile

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.