Renaissance Technologies LLC Trims Holdings in Aviat Networks, Inc. (NASDAQ:AVNW)

Renaissance Technologies LLC cut its holdings in shares of Aviat Networks, Inc. (NASDAQ:AVNW - Free Report) by 9.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 187,380 shares of the communications equipment provider's stock after selling 20,294 shares during the period. Renaissance Technologies LLC owned about 1.48% of Aviat Networks worth $3,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AVNW. Tieton Capital Management LLC lifted its position in Aviat Networks by 998.2% during the fourth quarter. Tieton Capital Management LLC now owns 650,270 shares of the communications equipment provider's stock valued at $11,776,000 after purchasing an additional 591,055 shares during the period. First Wilshire Securities Management Inc. acquired a new position in Aviat Networks during the fourth quarter valued at $7,483,000. First Eagle Investment Management LLC acquired a new position in Aviat Networks during the fourth quarter valued at $3,669,000. Hodges Capital Management Inc. lifted its position in Aviat Networks by 20.9% during the fourth quarter. Hodges Capital Management Inc. now owns 562,710 shares of the communications equipment provider's stock valued at $10,190,000 after purchasing an additional 97,227 shares during the period. Finally, Landscape Capital Management L.L.C. acquired a new position in Aviat Networks during the fourth quarter valued at $1,088,000. 78.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Northland Securities restated an "outperform" rating and set a $30.00 target price (up from $27.00) on shares of Aviat Networks in a research report on Wednesday, February 5th. StockNews.com raised shares of Aviat Networks from a "sell" rating to a "hold" rating in a report on Wednesday, February 5th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Aviat Networks presently has a consensus rating of "Moderate Buy" and an average price target of $37.60.

Aviat Networks Price Performance

Shares of NASDAQ AVNW traded up $0.03 during midday trading on Monday, hitting $17.67. The stock had a trading volume of 34,005 shares, compared to its average volume of 151,241. The company has a market capitalization of $224.13 million, a PE ratio of -88.35 and a beta of 1.57. The stock has a 50 day simple moving average of $18.91 and a 200-day simple moving average of $18.78. Aviat Networks, Inc. has a 1 year low of $12.96 and a 1 year high of $34.50. The company has a quick ratio of 1.37, a current ratio of 1.68 and a debt-to-equity ratio of 0.29.

Aviat Networks (NASDAQ:AVNW - Get Free Report) last released its earnings results on Tuesday, February 4th. The communications equipment provider reported $0.66 earnings per share for the quarter, beating 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%. On average, sell-side analysts expect that Aviat Networks, Inc. will post 0.5 EPS for the current fiscal year.

About Aviat Networks

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.