Anchor Capital Advisors LLC Buys New Stake in Aviat Networks, Inc. (NASDAQ:AVNW)

Anchor Capital Advisors LLC bought a new stake in Aviat Networks, Inc. (NASDAQ:AVNW) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 34,697 shares of the communications equipment provider’s stock, valued at approximately $1,330,000. Anchor Capital Advisors LLC owned approximately 0.28% of Aviat Networks as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC grew its holdings in shares of Aviat Networks by 582.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,349 shares of the communications equipment provider’s stock valued at $77,000 after purchasing an additional 2,005 shares in the last quarter. SG Americas Securities LLC boosted its stake in Aviat Networks by 30.4% during the fourth quarter. SG Americas Securities LLC now owns 6,218 shares of the communications equipment provider’s stock worth $203,000 after buying an additional 1,450 shares during the period. BNP Paribas Financial Markets boosted its stake in Aviat Networks by 84.8% during the first quarter. BNP Paribas Financial Markets now owns 5,475 shares of the communications equipment provider’s stock worth $210,000 after buying an additional 2,513 shares during the period. Bailard Inc. purchased a new position in Aviat Networks during the fourth quarter worth $255,000. Finally, AlphaQ Advisors LLC purchased a new position in Aviat Networks during the fourth quarter worth $265,000. 78.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on AVNW. StockNews.com raised shares of Aviat Networks from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Lake Street Capital reaffirmed a “buy” rating and set a $51.00 price objective on shares of Aviat Networks in a research note on Friday, July 5th. Finally, B. Riley lowered their target price on shares of Aviat Networks from $59.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $53.75.

Insider Transactions at Aviat Networks

In other Aviat Networks news, CEO Pete A. Smith purchased 1,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were acquired at an average price of $30.70 per share, for a total transaction of $30,700.00. Following the completion of the purchase, the chief executive officer now owns 242,199 shares of the company’s stock, valued at $7,435,509.30. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 5.70% of the company’s stock.

Aviat Networks Stock Down 0.1 %

Shares of AVNW stock traded down $0.03 on Monday, hitting $28.75. The stock had a trading volume of 27,213 shares, compared to its average volume of 97,975. The company has a quick ratio of 1.79, a current ratio of 2.12 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average price of $29.81 and a 200 day moving average price of $32.30. The company has a market cap of $361.10 million, a PE ratio of 25.47 and a beta of 1.80. Aviat Networks, Inc. has a one year low of $25.08 and a one year high of $38.85.

Aviat Networks (NASDAQ:AVNW) last announced its earnings results on Wednesday, May 1st. The communications equipment provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The firm had revenue of $111.61 million during the quarter, compared to the consensus estimate of $113.56 million. Aviat Networks had a return on equity of 14.54% and a net margin of 3.54%. During the same quarter in the prior year, the firm posted $0.61 earnings per share. Research analysts anticipate that Aviat Networks, Inc. will post 2.84 earnings per share for the current fiscal year.

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.