Renaissance Technologies LLC Reduces Position in Aviat Networks, Inc. (NASDAQ:AVNW)

Renaissance Technologies LLC trimmed its holdings in Aviat Networks, Inc. (NASDAQ:AVNW - Free Report) by 9.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 187,380 shares of the communications equipment provider's stock after selling 20,294 shares during the quarter. Renaissance Technologies LLC owned approximately 1.48% of Aviat Networks worth $3,393,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. GAMMA Investing LLC purchased a new stake in Aviat Networks in the fourth quarter worth $34,000. AlphaQuest LLC purchased a new position in Aviat Networks in the 4th quarter worth about $133,000. Quantbot Technologies LP bought a new stake in Aviat Networks during the 4th quarter valued at about $156,000. Truvestments Capital LLC boosted its position in Aviat Networks by 8.0% in the 4th quarter. Truvestments Capital LLC now owns 10,723 shares of the communications equipment provider's stock valued at $194,000 after buying an additional 794 shares during the period. Finally, WINTON GROUP Ltd bought a new position in Aviat Networks in the 4th quarter worth about $320,000. 78.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. StockNews.com upgraded Aviat Networks from a "sell" rating to a "hold" rating in a report on Wednesday, February 5th. Northland Securities reiterated an "outperform" rating and issued a $30.00 target price (up from $27.00) on shares of Aviat Networks in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $37.60.

Aviat Networks Stock Performance

Shares of NASDAQ:AVNW opened at $17.52 on Wednesday. The firm has a 50 day moving average of $19.28 and a 200 day moving average of $18.95. The company has a quick ratio of 1.37, a current ratio of 1.68 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $222.22 million, a price-to-earnings ratio of -87.60 and a beta of 1.57. Aviat Networks, Inc. has a 52 week low of $12.96 and a 52 week high of $34.50.

Aviat Networks (NASDAQ:AVNW - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The communications equipment provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.09 by $0.57. Aviat Networks had a positive return on equity of 4.33% and a negative net margin of 0.56%. 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.

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