Barclays PLC Increases Stock Holdings in Aviat Networks, Inc. (NASDAQ:AVNW)

Barclays PLC boosted its stake in shares of Aviat Networks, Inc. (NASDAQ:AVNW) by 298.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 15,928 shares of the communications equipment provider’s stock after acquiring an additional 11,926 shares during the period. Barclays PLC owned about 0.13% of Aviat Networks worth $344,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Royce & Associates LP increased its stake in shares of Aviat Networks by 8.5% during the third quarter. Royce & Associates LP now owns 696,394 shares of the communications equipment provider’s stock worth $15,063,000 after purchasing an additional 54,339 shares in the last quarter. Hodges Capital Management Inc. boosted its holdings in Aviat Networks by 27.3% in the 3rd quarter. Hodges Capital Management Inc. now owns 465,483 shares of the communications equipment provider’s stock worth $10,068,000 after buying an additional 99,948 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Aviat Networks by 1.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 425,538 shares of the communications equipment provider’s stock worth $12,208,000 after buying an additional 7,968 shares during the last quarter. Select Equity Group L.P. raised its holdings 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 acquiring an additional 30,582 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Aviat Networks by 1.6% in the third quarter. State Street Corp now owns 237,689 shares of the communications equipment provider’s stock valued at $5,141,000 after acquiring an additional 3,855 shares in the last quarter. 78.62% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling 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 stock was bought at an average cost of $14.13 per share, with a total value of $42,390.00. Following the transaction, the chief executive officer now directly owns 298,539 shares in the company, valued at $4,218,356.07. The trade was a 1.02 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at 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, for a total transaction of $49,455.00. Following the transaction, the chief financial officer now directly 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 disclosure for this purchase can be found here. Insiders purchased a total of 7,400 shares of company stock worth $106,110 over the last three months. Insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

AVNW has been the subject of several research reports. StockNews.com cut Aviat Networks from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Northland Securities reduced their target price on shares of Aviat Networks from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Lake Street Capital lowered their price target on shares of Aviat Networks from $45.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. B. Riley decreased their target price on shares of 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, Roth Mkm dropped their price target on Aviat Networks from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.60.

Aviat Networks Price Performance

NASDAQ:AVNW opened at $18.40 on Friday. Aviat Networks, Inc. has a 52 week low of $12.95 and a 52 week high of $38.85. The stock’s fifty day moving average is $16.93 and its two-hundred day moving average is $22.74. The company has a market capitalization of $233.50 million, a P/E ratio of -59.35 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 (NASDAQ:AVNW) last issued its quarterly earnings data on Friday, October 4th. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter. The firm had revenue of $116.66 million for the quarter. Aviat Networks had a negative net margin of 0.98% and a positive return on equity of 4.94%. Equities analysts expect that Aviat Networks, Inc. will post 1.13 EPS for the current year.

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.