Aviat Networks, Inc. (NASDAQ:AVNW) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its holdings in shares of Aviat Networks, Inc. (NASDAQ:AVNW) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 265,434 shares of the communications equipment provider’s stock after selling 1,900 shares during the quarter. Wellington Management Group LLP owned 2.12% of Aviat Networks worth $8,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in AVNW. Tower Research Capital LLC TRC increased its holdings in shares of Aviat Networks by 582.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,349 shares of the communications equipment provider’s stock valued at $77,000 after acquiring an additional 2,005 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Aviat Networks by 30.4% in the fourth quarter. SG Americas Securities LLC now owns 6,218 shares of the communications equipment provider’s stock worth $203,000 after buying an additional 1,450 shares during the last quarter. Bailard Inc. purchased a new stake in shares of Aviat Networks during the fourth quarter valued at $255,000. AlphaQ Advisors LLC acquired a new position in shares of Aviat Networks in the 4th quarter valued at $265,000. Finally, LVZ Inc. raised its stake in Aviat Networks by 11.2% in the 4th quarter. LVZ Inc. now owns 8,268 shares of the communications equipment provider’s stock worth $270,000 after acquiring an additional 834 shares during the last quarter. 78.62% of the stock is owned by institutional investors and hedge funds.

Aviat Networks Stock Performance

AVNW opened at $28.45 on Friday. The firm has a fifty day moving average price of $30.85 and a 200 day moving average price of $32.65. Aviat Networks, Inc. has a 1 year low of $25.08 and a 1 year high of $38.85. The stock has a market cap of $357.47 million, a P/E ratio of 25.18 and a beta of 1.78. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.12 and a quick ratio of 1.79.

Aviat Networks (NASDAQ:AVNW) last issued its quarterly earnings data on Wednesday, May 1st. The communications equipment provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Aviat Networks had a return on equity of 14.54% and a net margin of 3.54%. The firm had revenue of $111.61 million during the quarter, compared to analyst estimates of $113.56 million. During the same quarter last year, the company posted $0.61 EPS. Equities research analysts anticipate that Aviat Networks, Inc. will post 2.84 earnings per share for the current year.

Analyst Ratings Changes

AVNW has been the topic of a number of research reports. StockNews.com raised Aviat Networks from a “hold” rating to a “buy” rating in a report on Friday, June 14th. B. Riley cut their price target on shares of Aviat Networks from $59.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd.

Insiders Place Their Bets

In related news, CEO Pete A. Smith bought 1,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were acquired at an average price of $30.70 per share, for a total transaction of $30,700.00. Following the completion of the transaction, the chief executive officer now directly owns 242,199 shares in the company, valued at $7,435,509.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.70% of the stock is currently owned by company insiders.

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.