First Trust Advisors LP Sells 3,665 Shares of Aviat Networks, Inc. (NASDAQ:AVNW)

First Trust Advisors LP cut its holdings in Aviat Networks, Inc. (NASDAQ:AVNW) by 9.2% during the 4th quarter, Holdings Channel reports. The fund owned 36,045 shares of the communications equipment provider’s stock after selling 3,665 shares during the period. First Trust Advisors LP’s holdings in Aviat Networks were worth $653,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the business. Barclays PLC lifted its position in Aviat Networks by 298.0% during the third quarter. Barclays PLC now owns 15,928 shares of the communications equipment provider’s stock valued at $344,000 after purchasing an additional 11,926 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Aviat Networks by 15.3% during the 3rd quarter. Franklin Resources Inc. now owns 170,652 shares of the communications equipment provider’s stock valued at $3,853,000 after buying an additional 22,665 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Aviat Networks by 3.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 364,100 shares of the communications equipment provider’s stock valued at $7,875,000 after acquiring an additional 11,094 shares during the period. GAMMA Investing LLC purchased a new stake in Aviat Networks in the 4th quarter worth approximately $34,000. Finally, Hodges Capital Management Inc. raised its stake in Aviat Networks by 20.9% during the 4th quarter. Hodges Capital Management Inc. now owns 562,710 shares of the communications equipment provider’s stock worth $10,190,000 after acquiring an additional 97,227 shares during the period. Institutional investors own 78.62% of the company’s stock.

Aviat Networks Stock Performance

Shares of NASDAQ AVNW opened at $20.90 on Friday. The company has a market cap of $265.10 million, a P/E ratio of -104.49 and a beta of 1.67. Aviat Networks, Inc. has a 52-week low of $12.96 and a 52-week high of $31.98. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.37 and a current ratio of 1.68. The firm’s fifty day moving average is $18.52 and its two-hundred day moving average is $18.63.

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

Wall Street Analysts Forecast Growth

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