Pacific Ridge Capital Partners LLC Increases Stock Position in Aviat Networks, Inc. $AVNW

Pacific Ridge Capital Partners LLC lifted its holdings in shares of Aviat Networks, Inc. (NASDAQ:AVNW) by 34.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 311,254 shares of the communications equipment provider’s stock after buying an additional 79,774 shares during the period. Aviat Networks comprises 1.6% of Pacific Ridge Capital Partners LLC’s investment portfolio, making the stock its 22nd biggest holding. Pacific Ridge Capital Partners LLC’s holdings in Aviat Networks were worth $7,137,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Raymond James Financial Inc. acquired a new position in Aviat Networks during the second quarter worth $28,000. Comerica Bank lifted its holdings in Aviat Networks by 40.2% in the first quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock valued at $52,000 after acquiring an additional 780 shares during the period. State of Wyoming purchased a new stake in shares of Aviat Networks during the 3rd quarter worth $63,000. AlphaQuest LLC grew its stake 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 purchasing an additional 1,558 shares during the period. Finally, PDT Partners LLC purchased a new position in shares of Aviat Networks in the 2nd quarter valued at about $233,000. 78.62% of the stock is owned by institutional investors and hedge funds.

Aviat Networks Trading Up 1.7%

Shares of AVNW opened at $24.73 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.85 and a quick ratio of 1.56. Aviat Networks, Inc. has a 1-year low of $15.80 and a 1-year high of $27.02. The stock has a market cap of $319.02 million, a price-to-earnings ratio of 22.08 and a beta of 0.96. The firm has a 50 day simple moving average of $22.76 and a 200-day simple moving average of $22.66.

Aviat Networks (NASDAQ:AVNW) last announced its earnings results on Tuesday, February 3rd. The communications equipment provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates 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%. Equities analysts forecast that Aviat Networks, Inc. will post 0.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AVNW shares. B. Riley Financial reissued a “buy” rating and set a $36.00 price objective (up from $35.00) on shares of Aviat Networks in a report on Wednesday, February 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of Aviat Networks in a research note on Monday, December 29th. Citizens Jmp restated a “market outperform” rating and issued a $30.00 price target on shares of Aviat Networks in a report on Wednesday, February 4th. Roth Mkm reduced their price objective on Aviat Networks from $41.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. Finally, Zacks Research upgraded Aviat Networks from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Aviat Networks presently has an average rating of “Moderate Buy” and an average target price of $34.50.

Insider Transactions at Aviat Networks

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