Inspire Investing LLC bought a new position in Aviat Networks, Inc. (NASDAQ:AVNW – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 64,776 shares of the communications equipment provider’s stock, valued at approximately $1,465,000. Inspire Investing LLC owned approximately 0.50% of Aviat Networks at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of AVNW. Raymond James Financial Inc. bought a new stake in Aviat Networks in the second quarter valued at $28,000. Quarry LP bought a new position in shares of Aviat Networks during the third quarter valued at $27,000. Potomac Capital Management Inc. acquired a new stake in shares of Aviat Networks in the 4th quarter valued at $43,000. BNP Paribas Financial Markets grew its holdings in shares of Aviat Networks by 96.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,281 shares of the communications equipment provider’s stock worth $52,000 after purchasing an additional 1,120 shares during the last quarter. Finally, Comerica Bank grew its holdings in shares of Aviat Networks by 40.2% in the 1st quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock worth $52,000 after purchasing an additional 780 shares during the last quarter. Institutional investors own 78.62% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on AVNW shares. Zacks Research downgraded shares of Aviat Networks from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Northland Securities raised shares of Aviat Networks from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $20.00 to $25.00 in a report on Monday, June 15th. Lake Street Capital set a $31.00 target price on shares of Aviat Networks and gave the company a “buy” rating in a research note on Tuesday, May 5th. Citigroup raised Aviat Networks to an “outperform” rating in a report on Monday, June 15th. Finally, Craig Hallum started coverage on Aviat Networks in a report on Tuesday. They set a “buy” rating and a $36.00 price target for the company. Eight research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Aviat Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.43.
Aviat Networks Trading Up 1.2%
Shares of NASDAQ AVNW opened at $22.46 on Thursday. Aviat Networks, Inc. has a 1-year low of $13.92 and a 1-year high of $27.02. The company has a market cap of $290.63 million, a PE ratio of 32.55 and a beta of 0.70. The company has a current ratio of 1.99, a quick ratio of 1.67 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average of $18.96 and a two-hundred day moving average of $21.63.
Aviat Networks (NASDAQ:AVNW – Get Free Report) last released its quarterly earnings results on Monday, May 4th. The communications equipment provider reported $0.06 EPS for the quarter, missing the consensus estimate 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 net margin of 2.08% and a return on equity of 6.89%. As a group, equities analysts expect that Aviat Networks, Inc. will post 1.14 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.
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