JPMorgan Chase & Co. Buys 11,094 Shares of Aviat Networks, Inc. (NASDAQ:AVNW)

JPMorgan Chase & Co. lifted its position in Aviat Networks, Inc. (NASDAQ:AVNW) by 3.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 364,100 shares of the communications equipment provider’s stock after purchasing an additional 11,094 shares during the period. JPMorgan Chase & Co. owned 2.87% of Aviat Networks worth $7,875,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Rhumbline Advisers raised its position in Aviat Networks by 2.9% during 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. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Aviat Networks by 1.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 99,300 shares of the communications equipment provider’s stock valued at $2,148,000 after acquiring an additional 1,100 shares in the last quarter. Delphi Management Inc. MA lifted its stake in Aviat Networks by 10.9% in the second quarter. Delphi Management Inc. MA now owns 23,788 shares of the communications equipment provider’s stock worth $682,000 after acquiring an additional 2,337 shares during the period. American Century Companies Inc. lifted its stake in Aviat Networks by 15.6% in the second quarter. American Century Companies Inc. now owns 17,604 shares of the communications equipment provider’s stock worth $505,000 after acquiring an additional 2,375 shares during the period. Finally, NBC Securities Inc. bought a new position in Aviat Networks during the 3rd quarter worth about $62,000. Institutional investors own 78.62% of the company’s stock.

Insider Buying and Selling

In related news, CFO Michael Connaway acquired 3,500 shares of the stock in a transaction dated Friday, November 8th. The stock was acquired at an average cost of $14.13 per share, for a total transaction of $49,455.00. Following the completion of the purchase, the chief financial officer now owns 57,893 shares of the company’s stock, valued at approximately $818,028.09. This represents a 6.43 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 bought at an average cost of $14.13 per share, for a total transaction of $42,390.00. Following the completion of the acquisition, the chief executive officer now directly owns 298,539 shares of the company’s stock, valued at approximately $4,218,356.07. The trade was a 1.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 7,400 shares of company stock worth $106,110 in the last ninety days. 4.10% of the stock is owned by insiders.

Aviat Networks Price Performance

NASDAQ AVNW opened at $18.59 on Wednesday. Aviat Networks, Inc. has a 12-month low of $12.95 and a 12-month high of $38.85. The firm’s fifty day simple moving average is $16.72 and its two-hundred day simple moving average is $22.28. 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 capitalization of $235.91 million, a P/E ratio of -59.97 and a beta of 1.69.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. StockNews.com lowered shares of Aviat Networks from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. JMP Securities restated a “market outperform” rating and set a $50.00 target price on shares of Aviat Networks in a report on Tuesday, October 8th. Northland Securities dropped their target price on Aviat Networks from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Lake Street Capital reduced their price target on Aviat Networks from $45.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Roth Mkm dropped their price objective on Aviat Networks from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.60.

Aviat Networks 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.