Aviat Networks, Inc. (NASDAQ:AVNW) Stock Holdings Lessened by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in shares of Aviat Networks, Inc. (NASDAQ:AVNW) by 69.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,969 shares of the communications equipment provider’s stock after selling 47,538 shares during the period. Allspring Global Investments Holdings LLC owned about 0.18% of Aviat Networks worth $685,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AVNW. First Dallas Securities Inc. purchased a new position in shares of Aviat Networks during the 3rd quarter valued at $1,070,000. First Eagle Investment Management LLC grew its stake in Aviat Networks by 9.3% in the third quarter. First Eagle Investment Management LLC now owns 199,160 shares of the communications equipment provider’s stock valued at $6,214,000 after purchasing an additional 16,875 shares in the last quarter. B. Riley Asset Management LLC increased its position in Aviat Networks by 48.9% in the 3rd quarter. B. Riley Asset Management LLC now owns 156,278 shares of the communications equipment provider’s stock worth $4,876,000 after purchasing an additional 51,289 shares during the last quarter. SG Capital Management LLC purchased a new stake in shares of Aviat Networks during the 3rd quarter worth about $2,140,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Aviat Networks by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 267,334 shares of the communications equipment provider’s stock valued at $8,341,000 after buying an additional 2,967 shares during the last quarter. Institutional investors and hedge funds own 78.62% of the company’s stock.

Analyst Ratings Changes

AVNW has been the subject of several recent research reports. StockNews.com raised shares of Aviat Networks from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. B. Riley cut their target price on Aviat Networks from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, February 7th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 price target on shares of Aviat Networks in a research report on Monday, February 5th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.75.

Aviat Networks Price Performance

NASDAQ AVNW opened at $32.78 on Thursday. Aviat Networks, Inc. has a 1 year low of $21.15 and a 1 year high of $38.85. The company has a fifty day simple moving average of $35.27 and a 200 day simple moving average of $32.13. The company has a current ratio of 2.00, a quick ratio of 1.63 and a debt-to-equity ratio of 0.19. The company has a market cap of $411.39 million, a P/E ratio of 25.81 and a beta of 1.73.

Aviat Networks (NASDAQ:AVNW) last released its quarterly earnings results on Tuesday, February 6th. The communications equipment provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. The company had revenue of $95.04 million during the quarter, compared to analysts’ expectations of $91.85 million. Aviat Networks had a net margin of 4.23% and a return on equity of 15.11%. On average, sell-side analysts predict that Aviat Networks, Inc. will post 3.01 EPS for the current year.

Aviat Networks Profile

Aviat Networks, Inc provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific. The company offers outdoor, indoor, and split-mount radios; microwave routers, switches, and trunking; and private LTE, virtual fiber, and element management products; and hosted software products, such as aviat design, frequency assurance software, and health assurance software.