Aviat Networks (NASDAQ:AVNW) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Aviat Networks (NASDAQ:AVNW) from a strong-buy rating to a hold rating in a report released on Thursday morning.

Several other equities research analysts also recently commented on the stock. Northland Securities reiterated an outperform rating and set a $40.00 price objective (down from $50.00) on shares of Aviat Networks in a research note on Friday, September 13th. B. Riley dropped their price target on Aviat Networks from $55.00 to $42.00 and set a buy rating on the stock in a research note on Friday, September 13th. Finally, Lake Street Capital reissued a buy rating and issued a $51.00 price objective on shares of Aviat Networks in a report on Friday, July 5th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $45.75.

Aviat Networks Stock Down 0.4 %

AVNW stock opened at $22.58 on Thursday. The stock has a market capitalization of $283.72 million, a PE ratio of 19.98 and a beta of 1.81. Aviat Networks has a 52 week low of $18.00 and a 52 week high of $38.85. The company has a quick ratio of 1.79, a current ratio of 2.12 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average of $27.02 and a 200 day moving average of $30.36.

Hedge Funds Weigh In On Aviat Networks

A number of institutional investors have recently modified their holdings of the stock. Anchor Capital Advisors LLC acquired a new stake in Aviat Networks during the first quarter worth about $1,330,000. Intrinsic Edge Capital Management LLC grew its stake in shares of Aviat Networks by 80.9% during the 4th quarter. Intrinsic Edge Capital Management LLC now owns 67,100 shares of the communications equipment provider’s stock worth $2,191,000 after purchasing an additional 30,000 shares during the period. Millrace Asset Group Inc. purchased a new position in shares of Aviat Networks during the 4th quarter valued at approximately $1,617,000. Panagora Asset Management Inc. purchased a new stake in Aviat Networks during the fourth quarter worth $590,000. Finally, Vanguard Group Inc. grew its position in Aviat Networks by 2.2% during the first quarter. Vanguard Group Inc. now owns 552,071 shares of the communications equipment provider’s stock valued at $21,166,000 after buying an additional 11,662 shares during the period. Hedge funds and other institutional investors own 78.62% of the company’s stock.

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.