First Eagle Investment Management LLC Sells 69,660 Shares of Aviat Networks, Inc. (NASDAQ:AVNW)

First Eagle Investment Management LLC lowered its position in shares of Aviat Networks, Inc. (NASDAQ:AVNW) by 36.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 123,549 shares of the communications equipment provider’s stock after selling 69,660 shares during the period. First Eagle Investment Management LLC owned about 0.98% of Aviat Networks worth $3,545,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Panagora Asset Management Inc. bought a new position in Aviat Networks during the fourth quarter valued at approximately $590,000. Dynamic Technology Lab Private Ltd purchased a new stake in Aviat Networks during the fourth quarter valued at about $400,000. Trexquant Investment LP bought a new position in shares of Aviat Networks during the fourth quarter valued at about $569,000. Millrace Asset Group Inc. purchased a new position in shares of Aviat Networks in the fourth quarter worth about $1,617,000. Finally, Campbell & CO Investment Adviser LLC lifted its stake in shares of Aviat Networks by 39.1% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 23,664 shares of the communications equipment provider’s stock valued at $773,000 after acquiring an additional 6,648 shares during the last quarter. 78.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AVNW has been the topic of a number of analyst reports. Lake Street Capital reaffirmed a “buy” rating and issued a $51.00 price target on shares of Aviat Networks in a research note on Friday, July 5th. Northland Securities reiterated an “outperform” rating and set a $40.00 price target (down from $50.00) on shares of Aviat Networks in a report on Friday, September 13th. StockNews.com lowered shares of Aviat Networks from a “strong-buy” rating to a “hold” rating in a report on Thursday. Finally, B. Riley lowered their price objective on shares of Aviat Networks from $55.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, September 13th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Aviat Networks presently has a consensus rating of “Moderate Buy” and an average price target of $45.75.

Aviat Networks Stock Down 0.4 %

Shares of Aviat Networks stock opened at $22.58 on Friday. The company has a current ratio of 2.12, a quick ratio of 1.79 and a debt-to-equity ratio of 0.18. Aviat Networks, Inc. has a 12-month low of $18.00 and a 12-month high of $38.85. The company has a market cap of $283.72 million, a P/E ratio of 19.97 and a beta of 1.81. The company’s fifty day simple moving average is $27.14 and its two-hundred day simple moving average is $30.48.

Aviat Networks Company 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.