AVNW Aviat Networks, Inc. - Common Stock
$21.11
Price · Aug 25, 2026
Fundamentals as of May 4, 2026
52W Range
$14–$27
55% of range
Analyst Rating
BUY
14 analysts
Price Target
$32
+50% upside
P/E (TTM)
214.3
ROE
0.52%
Net Profit Margin
0.31%
About Aviat Networks, Inc. - Common Stock Company overview from Wikipedia
Aviat Networks, Inc. is a global provider of microwave transport and backhaul solutions, providing public and private operators with communications infrastructure to serve telecommunications operators and enterprise customers.
Read more
Aviat Networks, Inc. is a global provider of microwave transport and backhaul solutions, providing public and private operators with communications infrastructure to serve telecommunications operators and enterprise customers.
Headquartered in Austin, Texas since November 2019, Aviat Networks has operations in North and South America, Africa, Asia Pacific, Europe and the Middle East.
The company hired Peter Smith as its President and CEO on January 2, 2020.
History
The company was founded on January 29, 2007 with the merger of Harris Corporation’s Microwave Communications Division and Stratex Networks and incorporated under the name Harris Stratex Networks. The company renamed and rebranded itself to become Aviat Networks on January 28, 2010.
Stratex Networks was the new name for Digital Microwave Corporation (DMC) which was founded in 1984 in San Jose, California.
In February 2009, Harris Stratex acquired Telsima, developer and provider of WiMAX Forum Certified products for use in next-generation broadband wireless networks, for $12 million. In September 2008, Harris Stratex announced a partnership agreement with Telsima for end-to-end 4G network solutions.
In July 2022, Aviat completed the acquisition of Redline Communications, a provider of data infrastructure equipment.
Name and ticker symbol change
On January 28, 2010, at the opening of the Nasdaq trading session, Harris Stratex Networks announced they had renamed their company to become Aviat Networks. Along with the name change the company unveiled new corporate branding with a new company logo and relaunch of the corporate website. The company also changed their NASDAQ ticker symbol to AVNW. The new symbol began trading on the morning of January 29, 2010, retiring the old HSTX; this date also marked the company's third anniversary since incorporation.
Customer profile and recent contracts
Aviat Networks customers include fixed and mobile operators, public safety operators, state and federal governments, utilities, oil and gas companies, broadcast and transportation network operators worldwide.
Products and solutions
Aviat's portfolio of wireless products encompasses microwave and millimeter wave bands between 5 and 80 GHz. Architectures supported include split-mount (indoor/outdoor), all-outdoor and all-indoor radio designs to accommodate operators' specific needs.
== References ==
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
AVNW Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$21.11
Market Cap
$272M
P/E (TTM)
214.3
EPS (TTM)
$0.10
Revenue (TTM)
$435M
Div Yield
—
ROE
0.52%
Debt/Equity
0.3
52W Range
$14 – $27
AVNW Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$435M
2016-07-01
→
2025-06-27
EPS
$0.10
2016-07-01
→
2025-06-27
Free Cash Flow
$-7M
2016-07-01
→
2025-06-27
Margins
0.31%
2016-07-01
→
2025-06-27
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
AVNW
Peer Median
P/E (TTM)
214.3
40.4
P/S (TTM)
0.6
1.2
P/B
1.0
1.5
EV / EBITDA
18.9
—
Price / FCF
-37.5
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
AVNW
Peer Median
Gross Margin
32.1%
34.2%
Operating Margin
2.4%
—
Net Profit Margin
0.31%
-1.3%
ROA
0.23%
-2.5%
ROE
0.52%
-3.8%
ROIC
1.1%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
AVNW
Peer Median
Debt / Equity
0.3
40.4
Current Ratio
1.6
1.8
Quick Ratio
0.9
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
AVNW
Peer Median
Revenue YoY
6.5%
—
Revenue CAGR 3Y
12.8%
—
Revenue CAGR 5Y
12.7%
—
EPS YoY
-88.4%
—
Net Income YoY
-87.5%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
AVNW
Peer Median
AVNW Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
14 analysts
- Strong Buy 2 14.3%
- Buy 11 78.6%
- Hold 1 7.1%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
8 analysts · 2026-08-19
Median
$30.50
← Below all targets
$21.11
Low
$25.00
High
$42.00
Median target
$30.50
+44.5%
Mean target
$31.62
+49.8%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.14%
Next Report
Aug 26, 2026
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| March 31, 2026 | $0.06 | $0.45 | -0.39% |
| Dec. 31, 2025 | $0.54 | $0.51 | 0.03% |
| Sept. 30, 2025 | $0.43 | $0.32 | 0.11% |
| June 30, 2025 | $0.83 | $0.48 | 0.35% |
| March 31, 2025 | $0.88 | $0.29 | 0.59% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| AVNW | $304M | 239.4 | 6.5% | 0.31% | 0.52% | 32.1% |
| NTGR | $685M | -38.9 | 3.8% | -2.6% | -3.5% | 38.0% |
| CLFD | $476M | -59.3 | 19.6% | -5.4% | -3.1% | 33.7% |
| RBBN | — | -4.4 | 1.3% | — | — | — |
| LTRX | $112M | -9.9 | -23.3% | -9.2% | -14.9% | 42.1% |
| KVHI | $136M | -18.3 | -2.5% | -6.7% | -5.5% | — |
| OCC | $65M | — | 9.6% | -2.0% | -8.2% | 30.9% |
| GNSS | $111M | -6.1 | 69.8% | -44.4% | -354.3% | 41.6% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $435M | $408M | $344M | $303M | $275M | $239M | $244M | $243M | $242M | $269M | $336M | $346M | |
| Cost of Revenue | $295M | $263M | $222M | $194M | $172M | $154M | $165M | $162M | $166M | $207M | $255M | $261M | |
| Gross Profit | $139M | $145M | $122M | $109M | $103M | $85M | $79M | $81M | $75M | $62M | $81M | $85M | |
| R&D Expense | $36M | $36M | $25M | $23M | $22M | $19M | $21M | $20M | $19M | $21M | $25M | $35M | |
| SG&A Expense | $89M | $85M | $70M | $58M | $56M | $58M | $56M | $58M | $57M | $66M | $76M | $89M | |
| Operating Expenses | $129M | $125M | $98M | $80M | $80M | $81M | $78M | $79M | $76M | $89M | $107M | $136M | |
| Operating Income | $11M | $19M | $25M | $29M | $22M | $3M | $1M | $1M | $-985.0K | $-27M | $-26M | $-51M | |
| Interest Expense | · | · | · | · | $0 | $54.0K | $102.0K | $29.0K | $50.0K | $104.0K | $388.0K | $389.0K | |
| Interest Income | · | · | · | · | $230.0K | $385.0K | $267.0K | $198.0K | $261.0K | $252.0K | $360.0K | $480.0K | |
| Other Non-op | $-941.0K | $-158.0K | $-3M | $2M | $230.0K | $331.0K | $17.0K | $-220.0K | $169.0K | $-1M | $0 | $0 | |
| Pretax Income | $4M | $17M | $21M | $30M | $22M | $4M | $2M | $1M | $-605.0K | $-29M | $-26M | $-51M | |
| Income Tax | $2M | $6M | $11M | $9M | $-88M | $3M | $-8M | $-1M | $16.0K | $2M | $-1M | $1M | |
| Net Income | $1M | $11M | $10M | $21M | $110M | $257.0K | $10M | $2M | $-823.0K | $-30M | $-25M | $-51M | |
| EPS (Basic) | $0.11 | $0.88 | $0.90 | $1.89 | $9.98 | $0.02 | $0.91 | $0.35 | $-0.16 | $-5.71 | · | · | |
| EPS (Diluted) | $0.10 | $0.86 | $0.86 | $1.79 | $9.42 | $0.02 | $0.87 | $0.33 | $-0.16 | $-5.71 | · | · | |
| Shares (Basic) | 12,681,000 | 12,182,000 | 11,358,000 | 11,167,000 | 11,036,000 | 10,782,000 | 10,754,000 | 5,336,000 | 5,292,000 | 5,238,000 | · | · | |
| Shares (Diluted) | 12,826,000 | 12,456,000 | 11,855,000 | 11,820,000 | 11,688,000 | 10,936,000 | 11,236,000 | 5,647,000 | 5,292,000 | 5,238,000 | · | · | |
| EBITDA | $16M | $23M | $32M | $33M | $28M | $8M | $6M | $7M | · | $-21M | $-19M | $-44M |
Balance Sheet 32
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $60M | $65M | $22M | $37M | $48M | $42M | $32M | $37M | $36M | $30M | $35M | $49M | |
| Short-term Investments | · | · | $2.0K | $11M | $0 | · | · | $0 | $264.0K | $222.0K | $0 | · | |
| Receivables | $180M | $158M | $101M | $73M | $48M | $45M | $52M | $43M | $46M | $63M | $84M | $77M | |
| Inventory | · | · | · | · | · | · | $9M | $21M | $22M | $27M | $33M | $38M | |
| Prepaid Expense | $14M | $14M | $13M | $11M | · | · | · | · | · | · | · | · | |
| Other Current Assets | $34M | $27M | $22M | $12M | $10M | $10M | $5M | $6M | $6M | $10M | $15M | $17M | |
| Current Assets | $464M | $405M | $236M | $206M | $170M | $140M | $126M | $123M | $125M | $140M | $191M | $218M | |
| PP&E (Net) | $17M | $9M | $9M | $9M | $12M | $17M | $17M | $17M | $16M | $18M | $24M | $29M | |
| PP&E (Gross) | $80M | $71M | $70M | $77M | $80M | $83M | $80M | $76M | $70M | $70M | $69M | $71M | |
| Accum. Depreciation | $62M | $62M | $61M | $68M | $68M | $66M | $62M | $59M | $54M | $52M | $45M | $42M | |
| Goodwill | $20M | $8M | $5M | $0 | · | · | · | · | · | · | · | $0 | |
| Intangibles | $27M | $14M | $9M | $0 | · | · | · | · | · | · | $0 | $400.0K | |
| Other Non-current Assets | $14M | $12M | $14M | $10M | $8M | $7M | $12M | $10M | $5M | $1M | $2M | $2M | |
| Total Assets | $633M | $535M | $363M | $324M | $298M | $180M | $169M | $156M | $153M | $166M | $225M | $253M | |
| Accounts Payable | $148M | $93M | $60M | $42M | $32M | $32M | $36M | $31M | $34M | $33M | $47M | $46M | |
| Accrued Liabilities | $39M | $42M | $24M | $26M | $28M | $27M | $23M | $26M | $22M | $23M | $27M | · | |
| Short-term Debt | · | · | · | $0 | $0 | $9M | $9M | $9M | $9M | $9M | $9M | · | |
| Current Liabilities | $282M | $219M | $130M | $104M | $96M | $94M | $82M | $86M | $86M | $100M | $123M | $122M | |
| Capital Leases | $2M | $3M | $2M | $2M | $3M | $2M | $0 | · | · | · | · | · | |
| Deferred Tax | $5M | $412.0K | $492.0K | $563.0K | $614.0K | $545.0K | $1M | $1M | $2M | $1M | $5M | $5M | |
| Other Non-current Liabilities | $430.0K | $394.0K | $314.0K | $273.0K | $356.0K | $401.0K | $820.0K | $1M | $1M | $1M | $2M | $5M | |
| Total Liabilities | $370M | $279M | $144M | $122M | $114M | $111M | $98M | $99M | $98M | $113M | $141M | $141M | |
| Long-term Debt | $88M | $48M | $0 | · | · | · | · | · | · | · | · | · | |
| Total Debt | $88M | $48M | · | · | $0 | $9M | $9M | $9M | · | $9M | $9M | · | |
| Common Stock | $127.0K | $126.0K | $115.0K | $112.0K | $112.0K | $108.0K | $54.0K | $54.0K | $53.0K | $53.0K | $52.0K | $600.0K | |
| Paid-in Capital | $866M | $860M | $830M | $823M | $819M | $814M | $815M | $816M | $814M | $812M | $810M | $807M | |
| Retained Earnings | $-577M | $-579M | $-589M | $-599M | $-621M | $-731M | $-731M | $-746M | $-748M | $-747M | $-717M | $-693M | |
| Treasury Stock | $7M | $6M | $6M | $6M | $787.0K | $0 | · | · | · | · | · | · | |
| AOCI | $-19M | $-19M | $-16M | $-16M | $-14M | $-15M | $-13M | $-13M | $-12M | $-11M | $-9M | $-3M | |
| Stockholders' Equity | $263M | $256M | $219M | $202M | $183M | $69M | $72M | $58M | $54M | $53M | $84M | $112M | |
| Liabilities + Equity | $633M | $535M | $363M | $324M | $298M | $180M | $169M | $156M | $153M | $166M | $225M | $253M | |
| Shares Outstanding | 12,700,000 | 12,622,000 | 11,518,000 | 11,161,000 | 11,154,000 | 10,801,000 | 10,719,390 | 5,351,155 | 5,317,766 | 5,261,041 | 5,208,200 | 5,184,852 |
Cash Flow 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $5M | $4M | $5M | $4M | $5M | $4M | $4M | $5M | $6M | $7M | $7M | $7M | |
| Stock-based Comp | $7M | $7M | $7M | $4M | $3M | $2M | $2M | $2M | $2M | $2M | $2M | $3M | |
| Deferred Tax | $-343.0K | $4M | $9M | $8M | $-90M | $-172.0K | $-9M | $-3M | $75.0K | $-334.0K | $-5M | $-337.0K | |
| Amort. of Intangibles | $3M | $1M | $704.0K | $0 | $0 | · | · | · | $0 | $0 | $380.0K | $380.0K | |
| Restructuring | $4M | $4M | $3M | $238.0K | $2M | $4M | $736.0K | $1M | $589.0K | $2M | $5M | $11M | |
| Other Non-cash | $-8M | $5M | $-35M | $-34M | $-11M | $11M | $-4M | $2M | · | $22M | $11M | $12M | |
| Operating Cash Flow | $6M | $31M | $-2M | $3M | $17M | $17M | $3M | $8M | $9M | $356.0K | $-10M | $-29M | |
| CapEx | $13M | $3M | $5M | $2M | $3M | $5M | $5M | $7M | $4M | $2M | $4M | $9M | |
| Investing Cash Flow | $-29M | $-35M | $-12M | $-8M | $-3M | $-5M | $-5M | $-6M | $-4M | $-2M | $-4M | $-9M | |
| Debt Issued | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Net Debt Issued | $-51M | · | · | · | · | · | · | · | · | · | · | $-3M | |
| Stock Repurchased | · | · | · | $0 | $0 | $2M | $2M | $8.0K | $0 | · | · | · | |
| Net Stock Activity | · | · | · | $0 | $-787.0K | $-2M | $-2M | · | · | · | · | · | |
| Financing Cash Flow | $19M | $49M | $-681.0K | $-5M | $-8M | $-3M | $-3M | $12.0K | $21.0K | $13.0K | $3M | $-3M | |
| Net Change in Cash | $-3M | $42M | $-15M | $-11M | $6M | $10M | $-6M | $1M | $5M | $-4M | $-15M | $-41M | |
| Taxes Paid | $2M | $808.0K | $2M | $1M | $-2M | $1M | $687.0K | $1M | $-313.0K | $2M | $2M | $15M | |
| Free Cash Flow | $-7M | $28M | $-7M | $997.0K | $14M | $13M | $-2M | $2M | · | $-2M | $-13M | $-39M | |
| Levered FCF | · | · | · | · | $14M | $13M | $-3M | $2M | · | $-2M | $-13M | $-39M |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 32.1% | 35.5% | 35.8% | 36.1% | 37.3% | 35.5% | 32.5% | 33.2% | · | 23.0% | 24.0% | 24.6% | |
| Operating Margin | 2.4% | 4.8% | 7.6% | 9.5% | 8.1% | 1.4% | 0.56% | 0.54% | · | -10.2% | -7.7% | -14.6% | |
| Net Margin | 0.31% | 2.6% | 3.3% | 7.0% | 40.1% | 0.11% | 4.0% | 0.76% | · | -11.1% | -7.3% | -14.8% | |
| Pretax Margin | 0.82% | 4.1% | 6.7% | 10.1% | 8.2% | 1.6% | 0.64% | 0.52% | · | -10.6% | -7.7% | -14.6% | |
| EBITDA Margin | 3.7% | 5.7% | 9.2% | 11.0% | 10.0% | 3.2% | 2.4% | 2.7% | · | -7.8% | -5.6% | -12.6% | |
| ROA | 0.23% | 2.4% | 3.4% | 6.8% | 46.1% | 0.15% | 6.0% | 1.2% | · | -15.3% | -10.2% | · | |
| ROE | 0.52% | 4.2% | 5.3% | 10.6% | 60.7% | 0.38% | 14.0% | 3.2% | · | -43.7% | -25.2% | · | |
| ROIC | 1.1% | 4.1% | 6.0% | 9.9% | 59.5% | 0.30% | 10.7% | 3.6% | · | -46.7% | -26.6% | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.6 | 1.9 | 1.8 | 2.0 | 1.8 | 1.5 | 1.5 | 1.4 | · | 1.4 | 1.5 | · | |
| Quick Ratio | 0.9 | 1.0 | 1.0 | 1.2 | 1.0 | 0.9 | 1.0 | 0.9 | · | 0.9 | 1.0 | · | |
| Debt / Equity | 0.3 | 0.2 | · | · | 0.0 | 0.1 | 0.1 | 0.2 | · | 0.2 | 0.1 | · | |
| LT Debt / Equity | 0.3 | 0.2 | · | · | · | · | · | · | · | · | · | · | |
| Interest Coverage | · | · | · | · | · | 62.6 | 13.4 | 45.4 | · | -263.9 | -65.0 | -126.8 |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.7 | 0.9 | 1.0 | 1.0 | 1.2 | 1.4 | 1.5 | 1.6 | · | 1.4 | 1.4 | · | |
| Inventory Turnover | · | · | · | · | · | · | 17.9 | 7.5 | · | 6.9 | 7.2 | · | |
| Receivables Turnover | 2.6 | 3.2 | 4.0 | 5.0 | 5.9 | 4.9 | 5.0 | 5.4 | · | 3.7 | 4.1 | · |
Growth Rates 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 6.5% | 18.5% | 13.7% | 10.2% | 15.2% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 12.8% | 14.1% | 13.0% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 12.7% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -88.4% | 0.00% | -52.0% | -81.0% | 47000.0% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | -61.8% | -55.0% | 250.3% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 38.0% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -87.5% | 5.8% | -51.9% | -80.8% | 42755.6% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | -60.1% | -53.9% | 240.8% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 39.2% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $435M | $408M | $344M | $303M | $275M | $239M | $244M | $243M | $242M | $269M | $336M | $346M | |
| Net Income TTM | $1M | $11M | $10M | $21M | $110M | $257.0K | $10M | $2M | $-823.0K | $-30M | $-25M | $-51M | |
| Market Cap | $304M | $361M | $384M | $280M | $356M | $50M | $37M | $44M | · | $21M | $495M | $467M | |
| Enterprise Value | $332M | $345M | · | · | $308M | $18M | $14M | $15M | · | $-525.3K | $469M | · | |
| P/E | 239.4 | 33.4 | 38.8 | 14.0 | 3.4 | 464.8 | 7.9 | 24.8 | -54.4 | -0.7 | · | · | |
| P/S | 0.7 | 0.9 | 1.1 | 0.9 | 1.3 | 0.2 | 0.2 | 0.2 | · | 0.1 | 1.5 | 1.3 | |
| P/B | 1.2 | 1.4 | 1.7 | 1.4 | 1.9 | 0.7 | 0.5 | 0.8 | · | 0.4 | 5.9 | · | |
| P / Tangible Book | 1.4 | 1.5 | 1.9 | 1.4 | 1.9 | 0.7 | · | · | · | · | · | · | |
| P / Cash Flow | 53.1 | 11.8 | -233.4 | 100.4 | 20.6 | 2.9 | 12.5 | 5.3 | · | -168.1 | -55.0 | -15.9 | |
| P / FCF | -41.9 | 13.0 | -55.0 | 280.9 | 24.6 | 3.9 | -15.9 | 26.6 | · | -12.5 | -39.0 | -12.1 | |
| EV / EBITDA | 20.9 | 14.8 | · | · | 11.1 | 2.3 | 2.4 | 2.4 | · | 0.0 | -25.0 | · | |
| EV / FCF | -45.8 | 12.4 | · | · | 21.3 | 1.4 | -6.0 | 9.3 | · | 0.3 | -37.0 | · | |
| EV / Revenue | 0.8 | 0.8 | · | · | 1.1 | 0.1 | 0.1 | 0.1 | · | -0.0 | 1.4 | · | |
| Earnings Yield | 0.42% | 3.0% | 2.6% | 7.1% | 29.5% | 0.22% | 12.7% | 4.0% | -1.8% | -141.9% | · | · |
Income Statement 16
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $100M | $111M | $107M | $115M | $113M | $118M | $88M | $117M | $111M | $94M | $87M | $89M | $83M | $91M | $81M | $77M | |
| Cost of Revenue | $71M | $75M | $72M | $76M | $73M | $77M | $69M | $76M | $75M | $57M | $56M | $58M | $54M | $58M | $52M | $50M | |
| Gross Profit | $29M | $36M | $36M | $39M | $39M | $41M | $20M | $41M | $36M | $36M | $31M | $31M | $30M | $32M | $29M | $27M | |
| R&D Expense | $8M | $6M | $7M | $7M | $8M | $10M | $10M | $11M | $11M | $8M | $6M | $6M | $7M | $6M | $6M | $5M | |
| SG&A Expense | $20M | $22M | $23M | $21M | $22M | $21M | $25M | $23M | $20M | $23M | $19M | $20M | $16M | $17M | $18M | $16M | |
| Operating Expenses | $28M | $29M | $30M | $31M | $30M | $33M | $35M | $36M | $30M | $33M | $26M | $26M | $22M | $24M | $26M | $22M | |
| Operating Income | $939.0K | $7M | $5M | $9M | $9M | $8M | $-16M | $5M | $6M | $3M | $5M | $5M | $7M | $9M | $4M | $5M | |
| Other Non-op | $-1M | $3M | $-973.0K | $3M | $-3M | $-269.0K | $-710.0K | $70.0K | $-63.0K | $637.0K | $-802.0K | $-146.0K | $-306.0K | $460.0K | $-3M | $2M | |
| Pretax Income | $-2M | $8M | $3M | $10M | $5M | $6M | $-17M | $5M | $5M | $4M | $4M | $4M | $7M | $9M | $1M | $7M | |
| Income Tax | $-244.0K | $2M | $2M | $5M | $1M | $2M | $-6M | $3M | $806.0K | $2M | $432.0K | $2M | $2M | $3M | $4M | $3M | |
| Net Income | $-2M | $6M | $162.0K | $5M | $4M | $4M | $-12M | $2M | $4M | $2M | $4M | $2M | $5M | $6M | $-3M | $5M | |
| EPS (Basic) | $-0.16 | $0.44 | $0.01 | $0.42 | $0.28 | $0.35 | $-0.94 | $0.11 | $0.31 | $0.15 | $0.31 | $0.19 | $0.43 | $0.53 | $-0.25 | $0.41 | |
| EPS (Diluted) | $-0.16 | $0.44 | $0.01 | $0.42 | $0.27 | $0.35 | $-0.94 | $0.11 | $0.30 | $0.15 | $0.30 | $0.19 | $0.41 | $0.51 | $-0.25 | $0.40 | |
| Shares (Basic) | 12,918,000 | 12,856,000 | 12,760,000 | -25,343,000 | 12,689,000 | 12,689,000 | 12,646,000 | -23,948,000 | 12,555,000 | 12,001,000 | 11,574,000 | -22,602,000 | 11,413,000 | 11,347,000 | 11,200,000 | -22,474,000 | |
| Shares (Diluted) | 12,918,000 | 13,005,000 | 12,976,000 | -25,442,000 | 12,838,000 | 12,784,000 | 12,646,000 | -24,495,000 | 12,779,000 | 12,229,000 | 11,943,000 | -23,034,000 | 11,884,000 | 11,805,000 | 11,200,000 | -23,855,000 | |
| EBITDA | $2M | $8M | $6M | · | $10M | $9M | $-14M | · | $6M | $6M | $7M | · | $9M | $10M | $5M | · |
Balance Sheet 31
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $78M | $86M | $65M | $60M | $49M | $53M | $51M | $65M | $58M | $46M | $35M | · | $22M | $21M | $22M | · | |
| Short-term Investments | · | · | · | · | · | · | · | · | $988.0K | · | · | · | $0 | $2.0K | $1M | · | |
| Receivables | $188M | $203M | $180M | $180M | $178M | $167M | $169M | $158M | $138M | $150M | $94M | · | $88M | $91M | $72M | · | |
| Prepaid Expense | · | $14M | $13M | $14M | $15M | $15M | $15M | $14M | $13M | $14M | $17M | · | · | · | · | · | |
| Other Current Assets | $27M | $37M | $35M | $34M | $35M | $33M | $33M | $27M | $31M | $27M | $23M | · | $21M | $20M | $16M | · | |
| Current Assets | $450M | $494M | $475M | $464M | $457M | $423M | $427M | $405M | $362M | $367M | $244M | · | $237M | $224M | $197M | · | |
| PP&E (Net) | $19M | $19M | $19M | $17M | $16M | $14M | $12M | $9M | $6M | $9M | $9M | · | $11M | $11M | $12M | · | |
| PP&E (Gross) | $84M | $83M | $82M | $80M | $81M | $78M | $75M | $71M | $67M | $71M | $70M | · | $70M | $71M | $70M | · | |
| Accum. Depreciation | $65M | $64M | $63M | $62M | $65M | $64M | $63M | $62M | $61M | $62M | $61M | · | $60M | $60M | $58M | · | |
| Goodwill | $19M | $20M | $19M | $20M | $19M | $18M | $15M | $8M | $8M | $6M | $5M | · | $5M | $5M | $5M | · | |
| Intangibles | $24M | $25M | $26M | $27M | $27M | $28M | $29M | $14M | $14M | $16M | $9M | · | $7M | $7M | $7M | · | |
| Other Non-current Assets | $14M | $14M | $14M | $14M | $14M | $13M | $13M | $12M | $12M | $13M | $13M | · | $14M | $10M | $10M | · | |
| Total Assets | $617M | $659M | $643M | $633M | $628M | $594M | $591M | $535M | $490M | $500M | $370M | · | $365M | $349M | $327M | · | |
| Accounts Payable | $112M | $145M | $142M | $148M | $138M | $124M | $105M | $93M | $65M | $67M | $62M | · | $62M | $60M | $48M | · | |
| Accrued Liabilities | $40M | $32M | $36M | $39M | $41M | $38M | $39M | $42M | $39M | $34M | $21M | · | $23M | $24M | $25M | · | |
| Short-term Debt | · | · | · | · | · | · | · | · | · | · | · | · | $6M | · | · | · | |
| Current Liabilities | $226M | $267M | $258M | $282M | $282M | $252M | $248M | $219M | $171M | $184M | $129M | · | $133M | $124M | $111M | · | |
| Capital Leases | $2M | $2M | $2M | $2M | $2M | $3M | $3M | $3M | $2M | $3M | $2M | · | $2M | $2M | $2M | · | |
| Deferred Tax | $4M | $5M | $5M | $5M | $7M | $7M | $412.0K | $412.0K | $473.0K | $492.0K | $492.0K | · | $563.0K | $563.0K | $563.0K | · | |
| Other Non-current Liabilities | $328.0K | $450.0K | $440.0K | $430.0K | $427.0K | $417.0K | $407.0K | $394.0K | $405.0K | $391.0K | $317.0K | · | $279.0K | $249.0K | $246.0K | · | |
| Total Liabilities | $345M | $388M | $380M | $370M | $372M | $345M | $344M | $279M | $232M | $246M | $144M | · | $149M | $141M | $127M | · | |
| Long-term Debt | $104M | $105M | $106M | $88M | $74M | $75M | $83M | $48M | $49M | $50M | · | · | · | · | · | · | |
| Total Debt | $104M | $105M | $106M | · | $74M | $75M | $83M | · | $49M | $50M | · | · | $6M | · | · | · | |
| Common Stock | $129.0K | $129.0K | $128.0K | $127.0K | $127.0K | $127.0K | $127.0K | $126.0K | $126.0K | $125.0K | $117.0K | · | $114.0K | $114.0K | $113.0K | · | |
| Paid-in Capital | $870M | $868M | $867M | $866M | $865M | $863M | $861M | $860M | $858M | $857M | $832M | · | $828M | $827M | $825M | · | |
| Retained Earnings | $-573M | $-571M | $-577M | $-577M | $-582M | $-586M | $-590M | $-579M | $-578M | $-581M | $-584M | · | $-591M | $-596M | $-602M | · | |
| Treasury Stock | $8M | $7M | $7M | $7M | $7M | $7M | $6M | $6M | $6M | $6M | $6M | · | $6M | $6M | $6M | · | |
| AOCI | $-18M | $-19M | $-20M | $-19M | $-19M | $-21M | $-17M | $-19M | $-16M | $-15M | $-16M | · | $-16M | $-16M | $-17M | · | |
| Stockholders' Equity | $272M | $272M | $264M | $263M | $256M | $250M | $247M | $256M | $259M | $254M | $226M | $219M | $215M | $208M | $199M | $202M | |
| Liabilities + Equity | $617M | $659M | $643M | $633M | $628M | $594M | $591M | $535M | $490M | $500M | $370M | · | $365M | $349M | $327M | · | |
| Shares Outstanding | 12,900,000 | 12,900,000 | 12,800,000 | 12,700,000 | 12,700,000 | 12,700,000 | 12,700,000 | 12,600,000 | 12,600,000 | 12,500,000 | 11,700,000 | 11,518,000 | 11,436,542 | 11,377,066 | 11,312,974 | 11,161,000 |
Cash Flow 15
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $700.0K | $900.0K | $463.0K | $1M | $1M | $2M | $1M | $914.0K | $1M | $905.0K | $1M | $1M | $1M | $1M | $1M | $1M | |
| Stock-based Comp | $2M | $1M | $2M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | |
| Deferred Tax | · | · | $-270.0K | $3M | $2M | $1M | $-7M | $2M | $1M | $-142.0K | $-170.0K | $4M | $-89.0K | $2M | $3M | $2M | |
| Amort. of Intangibles | $700.0K | $700.0K | $719.0K | $694.0K | $700.0K | $800.0K | $513.0K | $426.0K | $200.0K | $200.0K | $176.0K | $332.0K | $124.0K | $124.0K | $124.0K | $0 | |
| Restructuring | $323.0K | $21.0K | $0 | $2M | $177.0K | $1M | $0 | $2M | $-417.0K | $2M | $644.0K | $157.0K | $-23.0K | $928.0K | $2M | $611.0K | |
| Other Non-cash | · | · | $-14M | · | · | · | $-11M | · | · | · | $7M | · | · | · | $-10M | · | |
| Operating Cash Flow | $-2M | $24M | $-12M | $11M | $2M | $21M | $-27M | $8M | $15M | $-7M | $14M | $7M | $-646.0K | $-2M | $-6M | $14M | |
| CapEx | $4M | $1M | $2M | $2M | $3M | $2M | $5M | $809.0K | $497.0K | $652.0K | $717.0K | $280.0K | $4M | $198.0K | $474.0K | $764.0K | |
| Investing Cash Flow | $-5M | $-1M | $-2M | $-2M | $-3M | $-2M | $-21M | $-270.0K | $-1M | $-33M | $-717.0K | $-286.0K | $-4M | $1M | $-8M | $-7M | |
| Net Debt Issued | · | · | $-938.0K | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Stock Repurchased | $500.0K | · | · | · | $99.0K | · | · | · | $0 | · | · | · | $0 | $0 | $0 | · | |
| Net Stock Activity | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | · | |
| Financing Cash Flow | $-1M | $-1M | $19M | $1M | $-1M | $-16M | $34M | $-578.0K | $-1M | $50M | $180.0K | $-7M | $6M | $368.0K | $-310.0K | $-836.0K | |
| Net Change in Cash | $-8M | $22M | $5M | $10M | $-2M | $1M | $-13M | $6M | $12M | $10M | $13M | $-145.0K | $1M | $-243.0K | $-15M | $6M | |
| Free Cash Flow | · | · | $-13M | · | · | · | $-33M | · | · | · | $13M | · | · | · | $-7M | · |
Profitability 8
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 29.3% | 32.4% | 33.2% | · | 34.9% | 34.6% | 22.4% | · | 32.7% | 38.8% | 36.4% | · | 35.7% | 35.5% | 36.2% | · | |
| Operating Margin | 0.94% | 6.5% | 4.8% | · | 8.2% | 6.7% | -17.6% | · | 4.5% | 5.2% | 6.3% | · | 9.0% | 9.6% | 4.8% | · | |
| Net Margin | -2.1% | 5.1% | 0.15% | · | 3.1% | 3.8% | -13.4% | · | 3.1% | 3.0% | 4.6% | · | 5.9% | 6.7% | -3.4% | · | |
| Pretax Margin | -2.3% | 7.3% | 2.3% | · | 4.2% | 5.2% | -19.7% | · | 3.6% | 5.5% | 5.3% | · | 8.5% | 10.1% | 1.4% | · | |
| EBITDA Margin | 1.6% | 7.3% | 5.3% | · | 9.3% | 8.0% | -16.1% | · | 5.4% | 6.2% | 7.7% | · | 10.7% | 11.1% | 6.5% | · | |
| ROA | -0.33% | 0.91% | 0.03% | · | 0.63% | 0.82% | -2.5% | · | 0.80% | 0.68% | 1.1% | · | 1.4% | 1.8% | -0.86% | · | |
| ROE | -0.78% | 2.2% | 0.06% | · | 1.4% | 1.8% | -5.0% | · | 1.4% | 1.2% | 1.9% | · | 2.4% | 3.0% | -1.4% | · | |
| ROIC | 0.22% | 1.4% | 0.09% | · | 2.1% | 1.8% | -3.2% | · | 1.4% | 0.91% | 2.1% | · | 2.3% | 2.8% | -4.8% | · |
Liquidity & Solvency 4
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.0 | 1.8 | 1.8 | · | 1.6 | 1.7 | 1.7 | · | 2.1 | 2.0 | 1.9 | · | 1.8 | 1.8 | 1.8 | · | |
| Quick Ratio | 1.2 | 1.1 | 0.9 | · | 0.8 | 0.9 | 0.9 | · | 1.2 | 1.1 | 1.0 | · | 0.8 | 0.9 | 0.9 | · | |
| Debt / Equity | 0.4 | 0.4 | 0.4 | · | 0.3 | 0.3 | 0.3 | · | 0.2 | 0.2 | · | · | 0.0 | · | · | · | |
| LT Debt / Equity | 0.4 | 0.4 | 0.4 | · | 0.3 | 0.3 | 0.3 | · | 0.2 | 0.2 | · | · | · | · | · | · |
Efficiency 2
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.3 | 0.2 | 0.3 | · | 0.2 | 0.3 | 0.3 | · | |
| Receivables Turnover | 0.5 | 0.6 | 0.6 | · | 0.7 | 0.7 | 0.7 | · | 1.0 | 0.8 | 1.0 | · | 1.0 | 1.1 | 1.2 | · |
Valuation (TTM) 14
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $431M | $450M | $427M | · | $430M | $411M | $380M | · | $375M | $355M | $342M | · | $330M | $321M | $308M | · | |
| Net Income TTM | $7M | $14M | $-4M | · | $14.0K | $-2M | $-3M | · | $14M | $16M | $12M | · | $14M | $15M | $15M | · | |
| Market Cap | $296M | $276M | $289M | · | $240M | $226M | $287M | · | $483M | $408M | $365M | · | $394M | $355M | $310M | · | |
| Enterprise Value | $322M | $295M | $330M | · | $264M | $249M | $319M | · | $473M | $412M | · | · | $378M | · | · | · | |
| P/E | 40.9 | 20.0 | -72.7 | · | -944.0 | -127.3 | -118.8 | · | 33.1 | 23.8 | 32.2 | · | 29.2 | 24.4 | 21.7 | · | |
| P/S | 0.7 | 0.6 | 0.7 | · | 0.6 | 0.6 | 0.8 | · | 1.3 | 1.2 | 1.1 | · | 1.2 | 1.1 | 1.0 | · | |
| P/B | 1.1 | 1.0 | 1.1 | · | 0.9 | 0.9 | 1.2 | · | 1.9 | 1.6 | 1.6 | · | 1.8 | 1.7 | 1.6 | · | |
| P / Tangible Book | 1.3 | 1.2 | 1.3 | · | 1.1 | 1.1 | 1.4 | · | 2.0 | 1.8 | 1.7 | · | 1.9 | 1.8 | 1.7 | · | |
| P / Cash Flow | · | · | -24.6 | · | · | · | -10.6 | · | · | · | 26.1 | · | · | · | -49.1 | · | |
| P / FCF | · | · | -21.4 | · | · | · | -8.8 | · | · | · | 27.5 | · | · | · | -45.6 | · | |
| EV / EBITDA | 196.4 | 36.1 | 58.4 | · | 25.3 | 26.3 | -22.4 | · | 78.4 | 69.8 | · | · | 42.3 | · | · | · | |
| EV / FCF | · | · | -24.5 | · | · | · | -9.8 | · | · | · | · | · | · | · | · | · | |
| EV / Revenue | 0.7 | 0.7 | 0.8 | · | 0.6 | 0.6 | 0.8 | · | 1.3 | 1.2 | · | · | 1.1 | · | · | · | |
| Earnings Yield | 2.4% | 5.0% | -1.4% | · | -0.11% | -0.79% | -0.84% | · | 3.0% | 4.2% | 3.1% | · | 3.4% | 4.1% | 4.6% | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-06-27 | 2024-06-28 | 2023-06-30 | 2022-07-01 | 2021-07-02 | |
|---|---|---|---|---|---|
| Revenue | $435M | $408M | $344M | $303M | $275M |
| Gross Margin % | 32.1% | 35.5% | 35.8% | 36.1% | 37.3% |
| Operating Margin % | 2.4% | 4.8% | 7.6% | 9.5% | 8.1% |
| Net Income | $1M | $11M | $10M | $21M | $110M |
| Diluted EPS | $0.10 | $0.86 | $0.86 | $1.79 | $9.42 |
Balance Sheet
| 2025-06-27 | 2024-06-28 | 2023-06-30 | 2022-07-01 | 2021-07-02 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.3 | 0.2 | — | — | 0.0 |
| Current Ratio | 1.6 | 1.9 | 1.8 | 2.0 | 1.8 |
| Quick Ratio | 0.9 | 1.0 | 1.0 | 1.2 | 1.0 |
Cash Flow
| 2025-06-27 | 2024-06-28 | 2023-06-30 | 2022-07-01 | 2021-07-02 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-7M | $28M | $-7M | $997.0K | $14M |
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Institutional owners (13F) 138 filers · $163.2M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 20 (-2 vs prior Q) | 25 (+13 vs prior Q) | 47 (+8 vs prior Q) | 34 (-8 vs prior Q) | -122K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| ROYCE & ASSOCIATES LP | $14,548,215 | 655,325 | 8.92% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $11,682,461 | 526,237 | 7.16% | Shares |
| FIRST WILSHIRE SECURITIES MANAGEMENT INC | $11,617,637 | 523,317 | 7.12% | Shares |
| Pacific Ridge Capital Partners, LLC | $9,793,330 | 441,141 | 6.00% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $9,554,702 | 430,392 | 5.86% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $8,006,186 | 360,639 | 4.91% | Shares |
| First Eagle Investment Management, LLC | $8,002,123 | 360,456 | 4.90% | Shares |
| Western Standard LLC | $6,682,822 | 301,028 | 4.10% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $5,929,413 | 267,015 | 3.63% | Shares |
| STATE STREET CORP | $5,725,735 | 257,916 | 3.51% | Shares |
| D. E. Shaw & Co., Inc. | $5,134,283 | 231,274 | 3.15% | Shares |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | $4,457,494 | 200,788 | 2.73% | Shares |
| MILLENNIUM MANAGEMENT LLC | $4,380,393 | 197,315 | 2.68% | Shares |
| SEI INVESTMENTS CO | $4,301,539 | 193,763 | 2.64% | Shares |
| CITADEL ADVISORS LLC | $3,218,179 | 144,963 | 1.97% | Shares |
| WEBER CAPITAL MANAGEMENT LLC /ADV | $3,134,018 | 141,172 | 1.92% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $2,995,180 | 134,918 | 1.84% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $2,420,644 | 109,038 | 1.48% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $2,404,993 | 108,333 | 1.47% | Shares |
| Hodges Capital Management Inc. | $1,787,100 | 80,500 | 1.10% | Shares |
| CM Management, LLC | $1,776,000 | 80,000 | 1.09% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $1,754,089 | 79,013 | 1.07% | Shares |
| TWO SIGMA INVESTMENTS, LP | $1,623,619 | 73,136 | 0.99% | Shares |
| Fisher Asset Management, LLC | $1,559,284 | 70,238 | 0.96% | Shares |
| Inspire Investing, LLC | $1,464,585 | 64,776 | 0.90% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $1,419,890 | 63,959 | 0.87% | Shares |
| Vanguard Global Advisers, LLC | $1,352,735 | 60,934 | 0.83% | Shares |
| Trexquant Investment LP | $1,317,459 | 59,345 | 0.81% | Shares |
| MARSHALL WACE, LLP | $1,308,757 | 58,953 | 0.80% | Shares |
| CITADEL ADVISORS LLC | $1,269,840 | 57,200 | 0.78% | Call option |
| AMERICAN CENTURY COMPANIES INC | $1,251,370 | 56,368 | 0.77% | Shares |
| HERALD INVESTMENT MANAGEMENT Ltd | $1,176,600 | 53,000 | 0.72% | Shares |
| WESTERLY CAPITAL MANAGEMENT, LLC | $1,110,000 | 50,000 | 0.68% | Shares |
| Squarepoint Ops LLC | $1,094,793 | 49,315 | 0.67% | Shares |
| AMERIPRISE FINANCIAL INC | $994,449 | 44,795 | 0.61% | Shares |
| Catalyst Funds Management Pty Ltd | $865,800 | 39,000 | 0.53% | Shares |
| JANE STREET GROUP, LLC | $823,620 | 37,100 | 0.50% | Call option |
| JANE STREET GROUP, LLC | $797,135 | 35,907 | 0.49% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $787,123 | 35,456 | 0.48% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $763,236 | 34,380 | 0.47% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $720,190 | 32,441 | 0.44% | Shares |
| TECTONIC ADVISORS LLC | $720,013 | 32,433 | 0.44% | Shares |
| XTX Topco Ltd | $718,747 | 32,376 | 0.44% | Shares |
| Bank of New York Mellon Corp | $614,807 | 27,694 | 0.38% | Shares |
| PERRITT CAPITAL MANAGEMENT INC | $563,363 | 26,350 | 0.35% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $562,171 | 25,323 | 0.34% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $555,000 | 25,000 | 0.34% | Call option |
| JPMORGAN CHASE & CO | $500,443 | 24,141 | 0.31% | Shares |
| Y-Intercept (Hong Kong) Ltd | $463,825 | 20,893 | 0.28% | Shares |
| Empowered Funds, LLC | $436,430 | 19,659 | 0.27% | Shares |
| Quadrature Capital Ltd | $431,768 | 19,449 | 0.26% | Shares |
| CITADEL ADVISORS LLC | $408,480 | 18,400 | 0.25% | Put option |
| VANGUARD GROUP INC | $380,158 | 17,781 | 0.23% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $373,959 | 16,845 | 0.23% | Shares |
| Worth Venture Partners, LLC | $357,420 | 16,100 | 0.22% | Shares |
| ALLIANCEBERNSTEIN L.P. | $335,306 | 14,830 | 0.21% | Shares |
| RHUMBLINE ADVISERS | $320,605 | 14,441 | 0.20% | Shares |
| Quantinno Capital Management LP | $313,952 | 14,142 | 0.19% | Shares |
| BANK OF AMERICA CORP /DE/ | $290,953 | 13,106 | 0.18% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $274,481 | 12,364 | 0.17% | Shares |
| Brevan Howard Capital Management LP | $273,460 | 12,318 | 0.17% | Shares |
| WINTON GROUP Ltd | $267,510 | 12,050 | 0.16% | Shares |
| GOLDMAN SACHS GROUP INC | $240,137 | 10,817 | 0.15% | Shares |
| DEUTSCHE BANK AG\ | $224,509 | 10,113 | 0.14% | Shares |
| WOLVERINE TRADING, LLC | $222,656 | 9,800 | 0.14% | Call option |
| WELLS FARGO & COMPANY/MN | $220,668 | 9,940 | 0.14% | Shares |
| FRANKLIN RESOURCES INC | $168,054 | 7,570 | 0.10% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $157,087 | 7,076 | 0.10% | Shares |
| Russell Investments Group, Ltd. | $147,985 | 6,666 | 0.09% | Shares |
| MetLife Investment Management, LLC | $133,311 | 6,005 | 0.08% | Shares |
| Quent Capital, LLC | $133,200 | 6,000 | 0.08% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $121,323 | 5,465 | 0.07% | Shares |
| FMR LLC | $119,836 | 5,398 | 0.07% | Shares |
| CITIGROUP INC | $106,471 | 4,796 | 0.07% | Shares |
| Invesco Ltd. | $104,673 | 4,715 | 0.06% | Shares |
| AlphaQuest LLC | $100,123 | 4,683 | 0.06% | Shares |
| BlackRock, Inc. | $100,122 | 4,510 | 0.06% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $95,371 | 4,296 | 0.06% | Shares |
| Potomac Capital Management, Inc. | $79,920 | 3,600 | 0.05% | Shares |
| Police & Firemen's Retirement System of New Jersey | $63,736 | 2,871 | 0.04% | Shares |
| COMERICA BANK | $58,154 | 2,720 | 0.04% | Shares |
| NORTHERN TRUST CORP | $41,514 | 1,870 | 0.03% | Shares |
| BARCLAYS PLC | $35,586 | 1,603 | 0.02% | Shares |
| Tower Research Capital LLC (TRC) | $34,987 | 1,576 | 0.02% | Shares |
| Ameritas Investment Partners, Inc. | $24,242 | 1,092 | 0.01% | Shares |
| Legal & General Group Plc | $24,192 | 1,088 | 0.01% | Shares |
| Arax Advisory Partners | $20,003 | 901 | 0.01% | Shares |
| CWM, LLC | $19,512 | 863 | 0.01% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $19,314 | 870 | 0.01% | Shares |
| Truvestments Capital LLC | $17,449 | 786 | 0.01% | Shares |
| GAMMA Investing LLC | $16,583 | 747 | 0.01% | Shares |
| Tieton Capital Management, LLC | $15,017 | 676,440 | 0.01% | Shares |
| WealthCollab, LLC | $12,788 | 576 | 0.01% | Shares |
| SIMPLEX TRADING, LLC | $11,743 | 529 | 0.01% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $10,152 | 449 | 0.01% | Shares |
| UBS Group AG | $9,835 | 443 | 0.01% | Shares |
| Rockefeller Capital Management L.P. | $9,613 | 433 | 0.01% | Shares |
| ROTHSCHILD INVESTMENT LLC | $8,813 | 397 | 0.01% | Shares |
| ROYAL BANK OF CANADA | $8,000 | 354 | 0.00% | Shares |
| CSM Advisors, LLC | $7,451 | 335,615 | 0.00% | Shares |
Company insiders 50 insiders · 8 officers · 4 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Harald J Braun | President and CEO | Nov. 12, 2009 A | 283,469 | 0 | 0 | $0 |
| Thomas L Cronan III | SVP & Chief Financial Officer | July 14, 2011 D | 104,727 | 0 | 0 | $0 |
| Sarah A Dudash | Chief Financial Officer | Nov. 5, 2008 A | 54,074 | 0 | 0 | $0 |
| Gary Croke | SVP of Product and Innovation | July 7, 2026 F | 41,900 | 0 | 0 | $0 |
| Russell Mincey | VP, Corp. Controller and PAO | Nov. 15, 2010 S | 42,162 | 0 | 0 | $0 |
| Marilyn Ann Gigoux | SVP, Chief Human Resources Off | Jan. 25, 2010 A | 9,698 | 0 | 0 | $0 |
| Steve Gilmore | VP, Human Resources | Nov. 12, 2009 A | 37,745 | 0 | 0 | $0 |
| Juan Otero | General Counsel & Secretary | Nov. 5, 2008 A | 28,185 | 0 | 0 | $0 |
| Bryan Ingram | Director | Nov. 7, 2025 A | 25,162 | 0 | 0 | $0 |
| Eric C Evans | Director | Jan. 26, 2011 A | 36,496 | 0 | 0 | $0 |
| HARRIS CORP /DE/ | Director | May 13, 2009 C | 0 | 0 | 0 | $0 |
| Andrew C Schmidt | — | Dec. 3, 2025 A | 15,647 | 0 | 0 | $0 |
| Bruce M. Taten | — | Nov. 11, 2025 S | 20,391 | 0 | 1 | $-76,439 |
| John Mutch | — | Nov. 7, 2025 A | 95,618 | 0 | 0 | $0 |
| Erin Boase | — | Sept. 12, 2025 A | 26,643 | 0 | 0 | $0 |
| Pete A Smith | — | Sept. 12, 2025 A | 363,787 | 0 | 0 | $0 |
| Michele Klein | — | Nov. 10, 2022 A | 8,626 | 0 | 0 | $0 |
| James C Stoffel | — | Nov. 10, 2022 A | 83,855 | 0 | 0 | $0 |
| Bryan Tucker | — | Jan. 28, 2022 M | 34,296 | 0 | 0 | $0 |
| David M Gray | — | Dec. 3, 2021 P | 7,568 | 0 | 0 | $0 |
| Somesh Singh | — | Nov. 29, 2021 P | 5,219 | 0 | 0 | $0 |
| Eric Chang | — | Sept. 7, 2021 F | 43,686 | 0 | 0 | $0 |
| Dahlia Loeb | — | Nov. 11, 2020 A | 5,499 | 0 | 0 | $0 |
| Kenneth Kong | — | Nov. 11, 2020 A | 20,457 | 0 | 0 | $0 |
| John J Quicke | — | Nov. 11, 2020 A | 43,562 | 0 | 0 | $0 |
| Shaun Mcfall | — | July 3, 2020 D | 30,728 | 0 | 0 | $0 |
| Walter Stanley Gallagher Jr | — | April 3, 2020 D | 9,850 | 0 | 0 | $0 |
| Michael Pangia | — | Sept. 18, 2019 F | 76,965 | 0 | 0 | $0 |
| Heinz Stumpe | — | June 28, 2019 F | 12,277 | 0 | 0 | $0 |
| Meena L. Elliott | — | Oct. 5, 2018 F | 24,908 | 0 | 0 | $0 |
| Ralph Marimon | — | July 10, 2018 D | 25,251 | 0 | 0 | $0 |
| Wayne Barr JR | — | Nov. 15, 2017 A | 8,229 | 0 | 0 | $0 |
| Robert G. Pearse | — | Jan. 11, 2016 A | 187,271 | 0 | 0 | $0 |
| James R Henderson | — | Jan. 11, 2016 A | 177,271 | 0 | 0 | $0 |
| William A Hasler | — | Jan. 11, 2016 A | 222,563 | 0 | 0 | $0 |
| Michael Shahbazian | — | May 14, 2015 S | 65,151 | 0 | 0 | $0 |
| Charles Kissner | — | Feb. 10, 2015 A | 258,613 | 0 | 0 | $0 |
| John Madigan | — | Feb. 2, 2015 A | 101,353 | 0 | 0 | $0 |
| Raghavendra Rau | — | Jan. 24, 2014 A | 45,523 | 0 | 0 | $0 |
| Mohsen Sohi | — | Jan. 24, 2014 A | 71,840 | 0 | 0 | $0 |
| Thompson Edward | — | Jan. 24, 2014 A | 74,191 | 0 | 0 | $0 |
| Clifford H Higgerson | — | Jan. 24, 2014 A | 71,691 | 0 | 0 | $0 |
| Edward J Hayes Jr | — | Nov. 1, 2013 S | 233,259 | 0 | 0 | $0 |
| Paul Kennard | — | Nov. 29, 2012 A | 176,617 | 0 | 0 | $0 |
| Robert Kamenski | — | May 17, 2007 S | 12,600 | 0 | 0 | $0 |
| Larry Brittain | — | April 10, 2007 M | 12,070 | 0 | 0 | $0 |
| Carl Thomsen | — | March 14, 2007 M | 14,834 | 0 | 0 | $0 |
| Guy M Campbell | — | Feb. 28, 2007 A | 23,100 | 0 | 0 | $0 |
| John Brandt | — | Feb. 26, 2007 M | 19 | 0 | 0 | $0 |
| Thomas H Waechter | — | Feb. 5, 2007 S | 13,541 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 8 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| NEC Corporation | Dec. 6, 2023 | — | Initial filing | — | SEC |
| Aviat Networks, Inc., Weinstock Legacy, LLC, Craig Weinstock ×13 filings | Aug. 23, 2022 | — | Initial filing | — | SEC |
| STEEL EXCEL INC., STEEL PARTNERS HOLDINGS L.P., SPH GROUP LLC, SPH GROUP HOLDINGS LLC, STEEL PARTNERS HOLDINGS GP INC., KENNETH KONG ×12 filings | Feb. 3, 2021 | — | Initial filing | — | SEC |
| Julian Singer, JDS1, LLC, David S. Oros ×2 filings | Sept. 7, 2018 | — | Initial filing | Passive investment | SEC |
| Privet Fund LP, Privet Fund Management LLC, Ryan Levenson ×2 filings | April 18, 2014 | — | Initial filing | — | SEC |
| RAMIUS VALUE AND OPPORTUNITY MASTER FUND LTD, RAMIUS OPTIMUM INVESTMENTS LLC, COWEN OVERSEAS INVESTMENT LP, RAMIUS ADVISORS, LLC, RAMIUS VALUE AND OPPORTUNITY ADVISORS LLC, RAMIUS LLC, COWEN GROUP, INC., RCG HOLDINGS LLC, C4S & CO., L.L.C., PETER A. COHEN, MORGAN B. STARK, JEFFREY M. SOLOMON, THOMAS W. STRAUSS ×6 filings | Feb. 7, 2011 | — | Initial filing | — | SEC |
| Harris Corporation ×3 filings | May 28, 2009 | — | Initial filing | — | SEC |
| Kopp Investment Advisors, LLC 2), Kopp Holding Company, LLC 2), Kopp Holding Company 2), LeRoy C. Kopp 2) ×2 filings | Aug. 28, 2007 | — | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 36 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| QQQS · Invesco Exchange-Traded Fund Trust … | 0.57% | 6,300 SH | Aug. 21, 2026 | Daily |
| VFVA · VANGUARD WELLINGTON FUND | 0.08% | 29,476 SH | Aug. 19, 2026 | Daily |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.07% | 17,884 NS | April 30, 2026 | N-PORT |
| IWC · iShares Trust | 0.06% | 41,055 SH | Aug. 21, 2026 | Daily |
| EBIT · Harbor ETF Trust | 0.02% | 122 NS | April 30, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.02% | 10,344 SH | Aug. 19, 2026 | Daily |
| IWN · iShares Trust | 0.02% | 110,730 SH | Aug. 21, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.01% | 20,246 NS | May 31, 2026 | N-PORT |
| DFSV · Dimensional ETF Trust | 0.01% | 40,049 NS | April 30, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.01% | 16,655 SH | Aug. 21, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 68,329 SH | Aug. 19, 2026 | Daily |
| RSSL · Global X Funds | 0.01% | 5,072 NS | April 30, 2026 | N-PORT |
| IWM · iShares Trust | 0.01% | 295,691 SH | Aug. 21, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.01% | 42,601 NS | April 30, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.01% | 33,290 NS | April 30, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.01% | 920 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.01% | 551 NS | May 31, 2026 | N-PORT |
| RB · ProShares Trust | 0.00% | 3 NS | May 31, 2026 | N-PORT |
| AVUV · AMERICAN CENTURY ETF TRUST | 0.00% | 57,563 NS | May 31, 2026 | N-PORT |
| EBI · RBB Fund Trust | 0.00% | 1,228 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 431 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 437 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 430 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 11 NS | May 31, 2026 | N-PORT |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.00% | 6,959 NS | May 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 2,617 NS | April 30, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 19,704 SH | Aug. 21, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 3,608 SH | Aug. 21, 2026 | Daily |
| DCOR · Dimensional ETF Trust | 0.00% | 500 NS | April 30, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 5,981 NS | April 30, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 1,956 NS | April 30, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 77 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 135,852 SH | Aug. 19, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 379,092 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 889 SH | Aug. 19, 2026 | Daily |
| SVAL · iShares Trust | — | 35,063 SH | Aug. 21, 2026 | Daily |