Victory Capital Management Inc. Acquires 531 Shares of Aviat Networks, Inc. (NASDAQ:AVNW)

Victory Capital Management Inc. grew its holdings in shares of Aviat Networks, Inc. (NASDAQ:AVNW) by 17.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,513 shares of the communications equipment provider’s stock after acquiring an additional 531 shares during the period. Victory Capital Management Inc.’s holdings in Aviat Networks were worth $117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of AVNW. Select Equity Group L.P. grew its position in shares of Aviat Networks by 527.9% during the 1st quarter. Select Equity Group L.P. now owns 213,394 shares of the communications equipment provider’s stock valued at $6,566,000 after acquiring an additional 179,410 shares during the period. Millennium Management LLC boosted its holdings in Aviat Networks by 343.0% in the 2nd quarter. Millennium Management LLC now owns 206,038 shares of the communications equipment provider’s stock worth $5,159,000 after buying an additional 159,531 shares during the period. JPMorgan Chase & Co. boosted its holdings in Aviat Networks by 354.6% in the 4th quarter. JPMorgan Chase & Co. now owns 173,309 shares of the communications equipment provider’s stock worth $5,406,000 after buying an additional 135,185 shares during the period. State Street Corp boosted its holdings in Aviat Networks by 61.4% in the 1st quarter. State Street Corp now owns 272,987 shares of the communications equipment provider’s stock worth $8,400,000 after buying an additional 103,808 shares during the period. Finally, Paradigm Capital Management Inc. NY boosted its holdings in Aviat Networks by 21.7% in the 1st quarter. Paradigm Capital Management Inc. NY now owns 481,399 shares of the communications equipment provider’s stock worth $16,589,000 after buying an additional 85,724 shares during the period. Institutional investors own 76.55% of the company’s stock.

Aviat Networks Stock Down 0.3 %

Shares of Aviat Networks stock opened at $30.51 on Monday. The firm has a market cap of $357.42 million, a price-to-earnings ratio of 19.81 and a beta of 1.64. The business has a 50-day moving average price of $30.39 and a 200-day moving average price of $30.89. Aviat Networks, Inc. has a twelve month low of $21.15 and a twelve month high of $39.80.

Aviat Networks (NASDAQ:AVNW) last issued its quarterly earnings data on Wednesday, August 23rd. The communications equipment provider reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). Aviat Networks had a net margin of 5.18% and a return on equity of 15.84%. The firm had revenue of $91.18 million for the quarter, compared to analysts’ expectations of $88.78 million. On average, equities analysts expect that Aviat Networks, Inc. will post 3.21 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on AVNW shares. StockNews.com started coverage on shares of Aviat Networks in a report on Thursday, October 5th. They issued a “hold” rating for the company. Roth Capital upped their target price on shares of Aviat Networks from $58.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 target price on shares of Aviat Networks in a report on Monday, September 25th. Finally, B. Riley boosted their price target on shares of Aviat Networks from $58.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, August 24th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.75.

Insider Activity at Aviat Networks

In related news, CEO Pete A. Smith sold 13,099 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $34.44, for a total value of $451,129.56. Following the completion of the transaction, the chief executive officer now owns 215,726 shares of the company’s stock, valued at approximately $7,429,603.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Bryan Tucker sold 5,324 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $34.44, for a total value of $183,358.56. Following the completion of the transaction, the vice president now owns 37,678 shares of the company’s stock, valued at approximately $1,297,630.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Pete A. Smith sold 13,099 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $34.44, for a total transaction of $451,129.56. Following the completion of the transaction, the chief executive officer now directly owns 215,726 shares of the company’s stock, valued at approximately $7,429,603.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,629 shares of company stock valued at $641,583. Insiders own 5.70% of the company’s stock.

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.