Aviat Networks (NASDAQ:AVNW) Issues Quarterly Earnings Results

Aviat Networks (NASDAQ:AVNW) announced its quarterly earnings results on Thursday. The communications equipment provider reported $0.64 EPS for the quarter, FiscalAI reports. The firm had revenue of $120.89 million during the quarter. Aviat Networks had a net margin of 2.08% and a return on equity of 6.89%.

Aviat Networks Stock Performance

NASDAQ:AVNW opened at $20.91 on Thursday. The stock has a market capitalization of $270.58 million, a P/E ratio of 30.30 and a beta of 0.70. The company has a current ratio of 1.99, a quick ratio of 1.67 and a debt-to-equity ratio of 0.36. Aviat Networks has a 1 year low of $13.92 and a 1 year high of $27.02. The firm has a 50 day moving average of $20.92 and a 200-day moving average of $21.40.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AVNW shares. Northland Securities increased their target price on Aviat Networks from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, July 2nd. Lake Street Capital set a $31.00 price target on Aviat Networks and gave the company a “buy” rating in a research note on Tuesday, May 5th. Zacks Research upgraded Aviat Networks from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Craig Hallum started coverage on Aviat Networks in a research note on Tuesday, June 30th. They set a “buy” rating and a $36.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Aviat Networks in a report on Monday, August 3rd. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Aviat Networks has an average rating of “Moderate Buy” and a consensus target price of $33.14.

Institutional Investors Weigh In On Aviat Networks

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tieton Capital Management LLC acquired a new position in Aviat Networks during the 2nd quarter worth about $15,017,000. Sei Investments Co. increased its position in Aviat Networks by 122.2% in the 1st quarter. Sei Investments Co. now owns 432,325 shares of the communications equipment provider’s stock valued at $9,775,000 after acquiring an additional 237,761 shares in the last quarter. Western Standard LLC raised its stake in shares of Aviat Networks by 84.5% in the fourth quarter. Western Standard LLC now owns 494,238 shares of the communications equipment provider’s stock worth $10,567,000 after acquiring an additional 226,332 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Aviat Networks by 140.2% during the fourth quarter. Marshall Wace LLP now owns 226,580 shares of the communications equipment provider’s stock worth $4,844,000 after purchasing an additional 132,262 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Aviat Networks by 67.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 285,868 shares of the communications equipment provider’s stock valued at $6,555,000 after purchasing an additional 115,298 shares in the last quarter. 78.62% of the stock is owned by institutional investors and hedge funds.

Aviat Networks Company Profile

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.