Hodges Capital Management Inc. Reduces Stock Position in Aviat Networks, Inc. $AVNW

Hodges Capital Management Inc. trimmed its holdings in Aviat Networks, Inc. (NASDAQ:AVNW) by 16.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 329,613 shares of the communications equipment provider’s stock after selling 63,170 shares during the period. Hodges Capital Management Inc. owned approximately 2.57% of Aviat Networks worth $7,558,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Raymond James Financial Inc. purchased a new position in shares of Aviat Networks in the second quarter valued at $28,000. Comerica Bank grew its holdings in Aviat Networks by 40.2% during the 1st quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock valued at $52,000 after buying an additional 780 shares in the last quarter. State of Wyoming purchased a new position in Aviat Networks during the 3rd quarter valued at about $63,000. AlphaQuest LLC increased its position in shares of Aviat Networks by 69.2% during the third quarter. AlphaQuest LLC now owns 3,810 shares of the communications equipment provider’s stock valued at $87,000 after buying an additional 1,558 shares during the period. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Aviat Networks in the second quarter worth about $170,000. Institutional investors own 78.62% of the company’s stock.

Insider Activity at Aviat Networks

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

Aviat Networks Trading Down 1.0%

NASDAQ AVNW opened at $24.72 on Wednesday. The company has a quick ratio of 1.56, a current ratio of 1.85 and a debt-to-equity ratio of 0.37. The stock’s 50-day simple moving average is $22.38 and its two-hundred day simple moving average is $22.54. Aviat Networks, Inc. has a twelve month low of $15.80 and a twelve month high of $27.02. The company has a market capitalization of $318.89 million, a price-to-earnings ratio of 22.07 and a beta of 0.96.

Aviat Networks (NASDAQ:AVNW) last announced its quarterly earnings data on Tuesday, February 3rd. The communications equipment provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. The company 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%. Research analysts forecast that Aviat Networks, Inc. will post 0.5 EPS for the current fiscal year.

Analysts Set New Price Targets

AVNW has been the subject of several recent analyst reports. Wall Street Zen cut shares of Aviat Networks from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Citizens Jmp restated a “market outperform” rating and set a $30.00 price target on shares of Aviat Networks in a research report on Wednesday, February 4th. Lake Street Capital reaffirmed a “buy” rating and issued a $34.00 price target on shares of Aviat Networks in a report on Wednesday, November 5th. Zacks Research raised Aviat Networks from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. 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 research report on Wednesday, February 4th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Aviat Networks presently has a consensus rating of “Moderate Buy” and an average target price of $34.50.

Aviat Networks Company 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.