Royce & Associates LP Grows Holdings in Aviat Networks, Inc. (NASDAQ:AVNW)

Royce & Associates LP raised its position in Aviat Networks, Inc. (NASDAQ:AVNW) by 8.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 696,394 shares of the communications equipment provider’s stock after purchasing an additional 54,339 shares during the period. Royce & Associates LP owned about 5.49% of Aviat Networks worth $15,063,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its holdings in Aviat Networks by 2.9% in the 2nd quarter. Rhumbline Advisers now owns 18,716 shares of the communications equipment provider’s stock valued at $537,000 after purchasing an additional 523 shares in the last quarter. nVerses Capital LLC purchased a new position in Aviat Networks in the 2nd quarter valued at about $29,000. Delphi Management Inc. MA lifted its holdings in Aviat Networks by 6.5% in the 1st quarter. Delphi Management Inc. MA now owns 21,451 shares of the communications equipment provider’s stock valued at $822,000 after purchasing an additional 1,305 shares in the last quarter. Truvestments Capital LLC lifted its holdings in Aviat Networks by 26.2% in the 1st quarter. Truvestments Capital LLC now owns 10,654 shares of the communications equipment provider’s stock valued at $408,000 after purchasing an additional 2,213 shares in the last quarter. Finally, Bright Futures Wealth Management LLC. lifted its holdings in Aviat Networks by 16.2% in the 2nd quarter. Bright Futures Wealth Management LLC. now owns 17,022 shares of the communications equipment provider’s stock valued at $484,000 after purchasing an additional 2,375 shares in the last quarter. 78.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on AVNW shares. Northland Securities cut their price objective on shares of Aviat Networks from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. JMP Securities reiterated a “market outperform” rating and set a $50.00 price objective on shares of Aviat Networks in a report on Tuesday, October 8th. Lake Street Capital cut their price objective on shares of Aviat Networks from $45.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. StockNews.com lowered shares of Aviat Networks from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Finally, Roth Mkm cut their price objective on shares of Aviat Networks from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.60.

Insider Activity at Aviat Networks

In other news, CFO Michael Connaway acquired 3,500 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were bought at an average price of $14.13 per share, for a total transaction of $49,455.00. Following the completion of the purchase, the chief financial officer now directly owns 57,893 shares of the company’s stock, valued at approximately $818,028.09. This trade represents a 6.43 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Pete A. Smith acquired 3,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were purchased at an average price of $14.13 per share, for a total transaction of $42,390.00. Following the purchase, the chief executive officer now directly owns 298,539 shares of the company’s stock, valued at approximately $4,218,356.07. This trade represents a 1.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.10% of the stock is currently owned by insiders.

Aviat Networks Trading Down 0.9 %

NASDAQ AVNW opened at $13.79 on Friday. Aviat Networks, Inc. has a one year low of $12.95 and a one year high of $38.85. The company’s 50 day moving average price is $20.62 and its 200 day moving average price is $26.19. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.40 and a current ratio of 1.72. The firm has a market capitalization of $175.00 million, a price-to-earnings ratio of -44.48 and a beta of 1.81.

Aviat Networks (NASDAQ:AVNW) last posted its quarterly earnings results on Friday, October 4th. The communications equipment provider reported $0.58 EPS for the quarter. Aviat Networks had a negative net margin of 0.98% and a positive return on equity of 4.94%. The firm had revenue of $116.66 million for the quarter. On average, sell-side analysts predict that Aviat Networks, Inc. will post 0.74 EPS for the current year.

Aviat Networks Company 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.