Ancora Advisors LLC Purchases 8,425 Shares of Aviat Networks, Inc. (NASDAQ:AVNW)

Ancora Advisors LLC lifted its position in Aviat Networks, Inc. (NASDAQ:AVNW) by 21.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 48,553 shares of the communications equipment provider’s stock after buying an additional 8,425 shares during the period. Ancora Advisors LLC owned about 0.39% of Aviat Networks worth $1,862,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AVNW. Tower Research Capital LLC TRC raised its holdings in shares of Aviat Networks by 582.8% during 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 during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of 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 valued at $210,000 after purchasing an additional 2,513 shares during the last quarter. Covestor Ltd raised its holdings in shares of Aviat Networks by 309.8% during the first quarter. Covestor Ltd now owns 5,934 shares of the communications equipment provider’s stock valued at $228,000 after purchasing an additional 4,486 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of 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 valued at $203,000 after purchasing an additional 1,450 shares during the last quarter. Finally, Bailard Inc. purchased a new position in shares of Aviat Networks during the fourth quarter valued at approximately $255,000. Institutional investors own 78.62% of the company’s stock.

Aviat Networks Stock Performance

Shares of NASDAQ AVNW opened at $31.00 on Thursday. The firm has a fifty day moving average price of $29.44 and a 200-day moving average price of $32.11. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.12 and a quick ratio of 1.79. The stock has a market cap of $389.36 million, a PE ratio of 27.43 and a beta of 1.80. Aviat Networks, Inc. has a 1 year low of $25.08 and a 1 year high of $38.85.

Aviat Networks (NASDAQ:AVNW) last announced its quarterly earnings data on Wednesday, May 1st. The communications equipment provider reported $0.58 earnings per share (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 analysts’ expectations of $113.56 million. Aviat Networks had a return on equity of 14.54% and a net margin of 3.54%. During the same period last year, the company earned $0.61 earnings per share. Equities analysts anticipate that Aviat Networks, Inc. will post 2.84 earnings per share for the current fiscal year.

Insider Transactions at Aviat Networks

In related news, CEO Pete A. Smith bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average price of $30.70 per share, for a total transaction of $30,700.00. Following the completion of the transaction, the chief executive officer now owns 242,199 shares in the company, valued at $7,435,509.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.70% of the company’s stock.

Analysts Set New Price Targets

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

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.