Pacific Ridge Capital Partners LLC Buys 60,004 Shares of Aviat Networks, Inc. $AVNW

Pacific Ridge Capital Partners LLC boosted its position in shares of Aviat Networks, Inc. (NASDAQ:AVNW) by 19.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 371,258 shares of the communications equipment provider’s stock after acquiring an additional 60,004 shares during the quarter. Aviat Networks accounts for approximately 1.7% of Pacific Ridge Capital Partners LLC’s investment portfolio, making the stock its 15th biggest holding. Pacific Ridge Capital Partners LLC’s holdings in Aviat Networks were worth $7,937,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AVNW. Western Standard LLC increased its holdings in shares of Aviat Networks by 84.5% in the fourth quarter. Western Standard LLC now owns 494,238 shares of the communications equipment provider’s stock valued at $10,567,000 after purchasing an additional 226,332 shares during the last quarter. Weber Capital Management LLC ADV acquired a new stake in shares of Aviat Networks in the fourth quarter valued at approximately $3,099,000. Tectonic Advisors LLC grew its stake in Aviat Networks by 3.9% during the fourth quarter. Tectonic Advisors LLC now owns 48,071 shares of the communications equipment provider’s stock worth $1,028,000 after buying an additional 1,813 shares in the last quarter. Crown Advisors Management Inc. raised its position in shares of Aviat Networks by 11.1% in the 3rd quarter. Crown Advisors Management Inc. now owns 100,000 shares of the communications equipment provider’s stock valued at $2,293,000 after buying an additional 10,000 shares in the last quarter. Finally, Acuitas Investments LLC boosted its holdings in shares of Aviat Networks by 100.1% in the 3rd quarter. Acuitas Investments LLC now owns 63,377 shares of the communications equipment provider’s stock valued at $1,453,000 after purchasing an additional 31,700 shares in the last quarter. 78.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on AVNW. Weiss Ratings downgraded shares of Aviat Networks from a “hold (c)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Lake Street Capital set a $31.00 target price on shares of Aviat Networks and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Northland Securities reaffirmed a “market perform” rating and set a $20.00 price target on shares of Aviat Networks in a research report on Tuesday, May 5th. Wall Street Zen downgraded shares of Aviat Networks from a “buy” rating to a “hold” rating in a report on Sunday, April 26th. Finally, Citizens Jmp dropped their price objective on 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. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Aviat Networks currently has a consensus rating of “Hold” and an average target price of $30.00.

Aviat Networks Stock Performance

Aviat Networks stock opened at $15.86 on Tuesday. The firm’s 50 day simple moving average is $22.71 and its 200 day simple moving average is $22.66. The firm has a market capitalization of $205.23 million, a PE ratio of 22.99 and a beta of 0.82. The company has a current ratio of 1.99, a quick ratio of 1.67 and a debt-to-equity ratio of 0.36. Aviat Networks, Inc. has a 1-year low of $13.92 and a 1-year high of $27.02.

Aviat Networks (NASDAQ:AVNW) last posted its quarterly earnings data on Monday, May 4th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.36). The company had revenue of $100.00 million for 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%. As a group, analysts expect that Aviat Networks, Inc. will post 1.19 earnings per share for the current fiscal year.

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.