Renaissance Technologies LLC Decreases Stake in Aviat Networks, Inc. (NASDAQ:AVNW)

Renaissance Technologies LLC lessened its stake in shares of Aviat Networks, Inc. (NASDAQ:AVNW) by 9.8% during the 4th quarter, Holdings Channel reports. The firm owned 187,380 shares of the communications equipment provider’s stock after selling 20,294 shares during the quarter. Renaissance Technologies LLC’s holdings in Aviat Networks were worth $3,393,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC purchased a new stake in shares of Aviat Networks during the fourth quarter valued at $34,000. AlphaQuest LLC purchased a new position in Aviat Networks in the 4th quarter worth $133,000. Quantbot Technologies LP purchased a new stake in Aviat Networks during the 4th quarter valued at about $156,000. Truvestments Capital LLC increased its holdings in shares of Aviat Networks by 8.0% in the fourth quarter. Truvestments Capital LLC now owns 10,723 shares of the communications equipment provider’s stock valued at $194,000 after purchasing an additional 794 shares during the period. Finally, WINTON GROUP Ltd purchased a new position in shares of Aviat Networks in the fourth quarter worth about $320,000. Institutional investors and hedge funds own 78.62% of the company’s stock.

Aviat Networks Trading Up 3.9 %

Shares of NASDAQ:AVNW opened at $17.52 on Wednesday. The company has a market capitalization of $222.22 million, a PE ratio of -87.60 and a beta of 1.57. Aviat Networks, Inc. has a 12-month low of $12.96 and a 12-month high of $34.50. The business has a 50 day moving average of $19.28 and a two-hundred day moving average of $18.95. The company has a current ratio of 1.68, a quick ratio of 1.37 and a debt-to-equity ratio of 0.29.

Aviat Networks (NASDAQ:AVNW) last posted its earnings results on Tuesday, February 4th. The communications equipment provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.57. Aviat Networks had a negative net margin of 0.56% and a positive return on equity of 4.33%. As a group, analysts forecast that Aviat Networks, Inc. will post 0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AVNW shares. Northland Securities reiterated an “outperform” rating and issued a $30.00 target price (up previously from $27.00) on shares of Aviat Networks in a research report on Wednesday, February 5th. StockNews.com upgraded shares of Aviat Networks from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.60.

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.