Aviat Networks, Inc. (NASDAQ:AVNW) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in shares of Aviat Networks, Inc. (NASDAQ:AVNW) by 5.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,535 shares of the communications equipment provider’s stock after selling 2,278 shares during the period. Bank of New York Mellon Corp owned 0.29% of Aviat Networks worth $662,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in shares of Aviat Networks in the 4th quarter worth $34,000. Dynamic Technology Lab Private Ltd bought a new stake in Aviat Networks in the third quarter worth about $263,000. BNP Paribas Financial Markets lifted its holdings in Aviat Networks by 635.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 14,244 shares of the communications equipment provider’s stock valued at $308,000 after acquiring an additional 12,306 shares during the last quarter. Barclays PLC boosted its position in shares of Aviat Networks by 298.0% during the 3rd 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. Finally, Paloma Partners Management Co acquired a new position in shares of Aviat Networks in the 3rd quarter worth approximately $357,000. 78.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on AVNW. Northland Securities reissued an “outperform” rating and set a $30.00 target price (up from $27.00) on shares of Aviat Networks in a research note on Wednesday, February 5th. StockNews.com raised 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $37.60.

Aviat Networks Stock Performance

Shares of AVNW stock opened at $19.67 on Thursday. The company has a market capitalization of $249.49 million, a price-to-earnings ratio of -98.35 and a beta of 1.67. Aviat Networks, Inc. has a 1-year low of $12.96 and a 1-year high of $38.85. The company has a current ratio of 1.68, a quick ratio of 1.37 and a debt-to-equity ratio of 0.29. The stock’s fifty day simple moving average is $20.56 and its 200-day simple moving average is $19.58.

Aviat Networks (NASDAQ:AVNW) last announced its quarterly earnings data on Tuesday, February 4th. The communications equipment provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.57. Aviat Networks had a negative net margin of 0.56% and a positive return on equity of 4.33%. On average, sell-side analysts predict that Aviat Networks, Inc. will post 0.5 earnings per share for the current fiscal year.

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.