White Pine Capital LLC Increases Stock Holdings in Aviat Networks, Inc. $AVNW

White Pine Capital LLC raised its position in Aviat Networks, Inc. (NASDAQ:AVNW) by 95.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,926 shares of the communications equipment provider’s stock after acquiring an additional 26,813 shares during the quarter. White Pine Capital LLC owned approximately 0.43% of Aviat Networks worth $1,259,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Aviat Networks by 1.2% in the third quarter. Vanguard Group Inc. now owns 700,233 shares of the communications equipment provider’s stock valued at $16,056,000 after purchasing an additional 8,179 shares in the last quarter. State of Wyoming purchased a new position in Aviat Networks in the 3rd quarter valued at approximately $63,000. AlphaQuest LLC grew its stake in shares of Aviat Networks by 69.2% in the third quarter. AlphaQuest LLC now owns 3,810 shares of the communications equipment provider’s stock worth $87,000 after acquiring an additional 1,558 shares in the last quarter. Acuitas Investments LLC increased its position in shares of Aviat Networks by 100.1% during the third quarter. Acuitas Investments LLC now owns 63,377 shares of the communications equipment provider’s stock worth $1,453,000 after acquiring an additional 31,700 shares during the period. Finally, Boothbay Fund Management LLC increased its position in shares of Aviat Networks by 29.4% during the second quarter. Boothbay Fund Management LLC now owns 52,341 shares of the communications equipment provider’s stock worth $1,259,000 after acquiring an additional 11,880 shares during the period. Institutional investors and hedge funds own 78.62% of the company’s stock.

Wall Street Analysts Forecast Growth

AVNW has been the subject of several analyst reports. Citizens Jmp reissued a “market outperform” rating and set a $30.00 target price on shares of Aviat Networks in a research note on Wednesday, February 4th. Roth Mkm lowered their price objective 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. Weiss Ratings restated a “hold (c-)” rating on shares of Aviat Networks in a research note on Monday, December 29th. Lake Street Capital reiterated a “buy” rating and issued a $34.00 price target on shares of Aviat Networks in a research note on Wednesday, November 5th. Finally, Zacks Research raised shares of Aviat Networks from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.50.

Insider Buying and Selling

In related news, SVP Gary Croke sold 6,914 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $26.20, for a total value of $181,146.80. Following the completion of the transaction, the senior vice president directly owned 43,868 shares of the company’s stock, valued at $1,149,341.60. This trade represents a 13.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Pete A. Smith sold 17,086 shares of Aviat Networks stock in a transaction on Monday, February 9th. The stock was sold at an average price of $26.33, for a total value of $449,874.38. Following the transaction, the chief executive officer directly owned 358,747 shares of the company’s stock, valued at approximately $9,445,808.51. This represents a 4.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 5.30% of the company’s stock.

Aviat Networks Stock Up 1.3%

Shares of NASDAQ AVNW opened at $24.70 on Friday. The stock has a market capitalization of $318.63 million, a price-to-earnings ratio of 22.05 and a beta of 0.96. Aviat Networks, Inc. has a 52 week low of $15.80 and a 52 week high of $27.02. The firm has a 50-day moving average price of $22.55 and a 200 day moving average price of $22.59. The company has a quick ratio of 1.56, a current ratio of 1.85 and a debt-to-equity ratio of 0.37.

Aviat Networks (NASDAQ:AVNW) last issued its earnings results on Tuesday, February 3rd. The communications equipment provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. Aviat Networks had a net margin of 3.27% and a return on equity of 10.71%. The company had revenue of $111.47 million for the quarter, compared to analyst estimates of $109.67 million. Equities research analysts anticipate that Aviat Networks, Inc. will post 0.5 EPS for the current fiscal year.

About Aviat Networks

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.