Aviat Networks, Inc. (NASDAQ:AVNW) Shares Acquired by Royce & Associates LP

Royce & Associates LP lifted its stake in shares of Aviat Networks, Inc. (NASDAQ:AVNW) by 8.5% in the third quarter, Holdings Channel reports. The institutional investor owned 696,394 shares of the communications equipment provider’s stock after buying an additional 54,339 shares during the quarter. Royce & Associates LP owned 0.05% of Aviat Networks worth $15,063,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AVNW. Hodges Capital Management Inc. grew its position in shares of Aviat Networks by 80.8% during the second quarter. Hodges Capital Management Inc. now owns 365,535 shares of the communications equipment provider’s stock worth $10,487,000 after buying an additional 163,365 shares in the last quarter. Select Equity Group L.P. grew its position in shares of Aviat Networks by 8.7% during the second quarter. Select Equity Group L.P. now owns 380,184 shares of the communications equipment provider’s stock worth $10,907,000 after buying an additional 30,582 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Aviat Networks during the third quarter worth approximately $589,000. Aristides Capital LLC grew its position in shares of Aviat Networks by 12.2% during the first quarter. Aristides Capital LLC now owns 137,472 shares of the communications equipment provider’s stock worth $5,271,000 after buying an additional 15,000 shares in the last quarter. Finally, Bright Futures Wealth Management LLC. acquired a new stake in shares of Aviat Networks during the first quarter worth approximately $562,000. Institutional investors and hedge funds own 78.62% of the company’s stock.

Aviat Networks Stock Performance

Shares of AVNW opened at $13.79 on Friday. Aviat Networks, Inc. has a 1 year low of $12.95 and a 1 year high of $38.85. The company has a market cap of $175.00 million, a price-to-earnings ratio of -44.48 and a beta of 1.81. 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 fifty day moving average of $20.62 and a 200-day moving average of $26.19.

Aviat Networks (NASDAQ:AVNW) last announced its quarterly earnings results on Friday, October 4th. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter. Aviat Networks had a negative net margin of 0.98% and a positive return on equity of 4.94%. The company had revenue of $116.66 million during the quarter. As a group, equities analysts anticipate that Aviat Networks, Inc. will post 0.74 earnings per share for the current year.

Insider Activity at Aviat Networks

In related news, CFO Michael Connaway purchased 3,500 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were purchased at an average price of $14.13 per share, with a total value of $49,455.00. Following the purchase, the chief financial officer now owns 57,893 shares of the company’s stock, valued at $818,028.09. This trade represents a 6.43 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Pete A. Smith purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average cost 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 in the company, valued at $4,218,356.07. This represents a 1.02 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on AVNW shares. StockNews.com downgraded shares of Aviat Networks from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 price objective on shares of Aviat Networks in a report on Tuesday, October 8th. B. Riley decreased their price objective on shares of Aviat Networks from $55.00 to $42.00 and set a “buy” rating for the company in a report on Friday, September 13th. Northland Securities decreased their price objective on shares of Aviat Networks from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Finally, Lake Street Capital decreased their price objective on shares of Aviat Networks from $45.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.60.

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.