State Street Corp Buys 3,855 Shares of Aviat Networks, Inc. (NASDAQ:AVNW)

State Street Corp raised its stake in Aviat Networks, Inc. (NASDAQ:AVNW) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 237,689 shares of the communications equipment provider’s stock after acquiring an additional 3,855 shares during the period. State Street Corp owned approximately 1.87% of Aviat Networks worth $5,141,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Royce & Associates LP raised its holdings in Aviat Networks by 8.5% in the 3rd quarter. Royce & Associates LP now owns 696,394 shares of the communications equipment provider’s stock worth $15,063,000 after acquiring an additional 54,339 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Aviat Networks by 1.9% during the second quarter. Dimensional Fund Advisors LP now owns 425,538 shares of the communications equipment provider’s stock valued at $12,208,000 after purchasing an additional 7,968 shares in the last quarter. Select Equity Group L.P. boosted 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 valued at $10,907,000 after buying an additional 30,582 shares during the last quarter. Hodges Capital Management Inc. increased its holdings in Aviat Networks by 80.8% in the 2nd 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. Finally, Herald Investment Management Ltd increased its holdings in Aviat Networks by 3.3% in the 2nd quarter. Herald Investment Management Ltd now owns 155,000 shares of the communications equipment provider’s stock worth $4,435,000 after buying an additional 5,000 shares in the last quarter. 78.62% of the stock is currently owned by institutional investors.

Aviat Networks Stock Down 0.7 %

NASDAQ AVNW opened at $17.82 on Monday. The stock’s 50-day moving average price is $17.27 and its 200-day moving average price is $23.15. The company has a market capitalization of $226.14 million, a P/E ratio of -57.48 and a beta of 1.72. The company has a quick ratio of 1.40, a current ratio of 1.72 and a debt-to-equity ratio of 0.33. Aviat Networks, Inc. has a 52 week low of $12.95 and a 52 week high of $38.85.

Aviat Networks (NASDAQ:AVNW) last announced its quarterly earnings data 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 firm had revenue of $116.66 million during the quarter. On average, equities research analysts predict that Aviat Networks, Inc. will post 1.13 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Pete A. Smith purchased 3,000 shares of Aviat Networks stock in a transaction on Friday, November 8th. The shares were bought at an average cost of $14.13 per share, for a total transaction of $42,390.00. Following the acquisition, the chief executive officer now owns 298,539 shares in the company, valued at approximately $4,218,356.07. The trade was a 1.02 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Connaway acquired 3,500 shares of the company’s stock in a transaction on Friday, November 8th. The shares were bought at an average cost of $14.13 per share, with a total value of $49,455.00. Following the acquisition, the chief financial officer now directly owns 57,893 shares in the company, valued at approximately $818,028.09. The trade was a 6.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 7,400 shares of company stock worth $106,110. 4.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Roth Mkm dropped their price target 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. Northland Securities dropped their target price 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. Lake Street Capital decreased their target price on shares of Aviat Networks from $45.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. 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, JMP Securities reissued a “market outperform” rating and issued a $50.00 target price on shares of Aviat Networks in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Aviat Networks has a consensus rating of “Moderate Buy” and an average target price of $38.60.

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.