Geode Capital Management LLC Reduces Holdings in Aviat Networks, Inc. (NASDAQ:AVNW)

Geode Capital Management LLC lowered its stake in shares of Aviat Networks, Inc. (NASDAQ:AVNW) by 4.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 270,948 shares of the communications equipment provider’s stock after selling 11,219 shares during the quarter. Geode Capital Management LLC owned about 2.14% of Aviat Networks worth $5,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. NBC Securities Inc. bought a new stake in Aviat Networks during the 3rd quarter valued at approximately $62,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Aviat Networks during the third quarter valued at approximately $263,000. BNP Paribas Financial Markets grew its stake in Aviat Networks by 635.0% in the third quarter. BNP Paribas Financial Markets now owns 14,244 shares of the communications equipment provider’s stock worth $308,000 after purchasing an additional 12,306 shares during the period. Barclays PLC raised its holdings in Aviat Networks by 298.0% in the third quarter. Barclays PLC now owns 15,928 shares of the communications equipment provider’s stock worth $344,000 after purchasing an additional 11,926 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in Aviat Networks during the third quarter valued at $357,000. 78.62% of the stock is owned by institutional investors.

Aviat Networks Stock Up 1.8 %

Aviat Networks stock opened at $18.40 on Friday. Aviat Networks, Inc. has a 12 month low of $12.95 and a 12 month high of $38.85. The stock has a fifty day simple moving average of $16.93 and a two-hundred day simple moving average of $22.74. The company has a current ratio of 1.72, a quick ratio of 1.40 and a debt-to-equity ratio of 0.33. The firm has a market cap of $233.50 million, a price-to-earnings ratio of -59.35 and a beta of 1.72.

Aviat Networks (NASDAQ:AVNW) last released its quarterly earnings data on Friday, October 4th. The communications equipment provider reported $0.58 EPS for the quarter. The company had revenue of $116.66 million during the quarter. Aviat Networks had a positive return on equity of 4.94% and a negative net margin of 0.98%. Equities analysts predict that Aviat Networks, Inc. will post 1.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on AVNW shares. Roth Mkm decreased their price target on shares of Aviat Networks from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. B. Riley lowered their target price 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. Lake Street Capital cut their price target on Aviat Networks from $45.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Northland Securities lowered their price objective on Aviat Networks from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Finally, StockNews.com cut Aviat Networks from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. One investment 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $38.60.

Insider Transactions at Aviat Networks

In other news, CEO Pete A. Smith bought 3,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were acquired at an average cost of $14.13 per share, with a total value of $42,390.00. Following the completion of the transaction, the chief executive officer now 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael Connaway purchased 3,500 shares of Aviat Networks stock in a transaction dated Friday, November 8th. The shares were acquired at an average cost of $14.13 per share, with a total value of $49,455.00. Following the transaction, 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. Insiders purchased 7,400 shares of company stock worth $106,110 over the last three months. 4.10% of the stock is currently owned by company insiders.

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.