First Eagle Investment Management LLC Increases Position in Aviat Networks, Inc. $AVNW

First Eagle Investment Management LLC lifted its stake in Aviat Networks, Inc. (NASDAQ:AVNW) by 15.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 378,549 shares of the communications equipment provider’s stock after acquiring an additional 49,642 shares during the period. First Eagle Investment Management LLC owned 2.97% of Aviat Networks worth $9,104,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Royce & Associates LP grew its stake in Aviat Networks by 5.5% in the first quarter. Royce & Associates LP now owns 680,459 shares of the communications equipment provider’s stock valued at $13,044,000 after purchasing an additional 35,580 shares during the last quarter. US Bancorp DE purchased a new stake in shares of Aviat Networks during the first quarter valued at about $82,000. Pacific Ridge Capital Partners LLC bought a new stake in shares of Aviat Networks in the 1st quarter valued at about $3,120,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Aviat Networks by 148.0% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 116,485 shares of the communications equipment provider’s stock valued at $2,233,000 after buying an additional 69,521 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Aviat Networks by 23.0% in the 1st quarter. Invesco Ltd. now owns 24,106 shares of the communications equipment provider’s stock worth $462,000 after buying an additional 4,515 shares during the last quarter. Institutional investors own 78.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AVNW. Wall Street Zen raised shares of Aviat Networks from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Aviat Networks in a research report on Tuesday, October 14th. Lake Street Capital reiterated a “buy” rating and set a $34.00 price objective on shares of Aviat Networks in a report on Wednesday. Finally, B. Riley reissued a “buy” rating and issued a $35.00 price objective (up previously from $33.00) on shares of Aviat Networks in a research report on Wednesday. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.00.

Insider Buying and Selling at Aviat Networks

In other news, SVP Gary Croke sold 6,742 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $22.41, for a total value of $151,088.22. Following the completion of the transaction, the senior vice president directly owned 45,159 shares in the company, valued at $1,012,013.19. This trade represents a 12.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 5.30% of the company’s stock.

Aviat Networks Trading Down 2.2%

NASDAQ:AVNW opened at $22.81 on Friday. The company has a market capitalization of $292.01 million, a P/E ratio of 285.16 and a beta of 1.57. The company has a current ratio of 1.64, a quick ratio of 1.35 and a debt-to-equity ratio of 0.26. Aviat Networks, Inc. has a 12 month low of $13.35 and a 12 month high of $26.83. The firm has a fifty day simple moving average of $23.28 and a 200-day simple moving average of $22.38.

Aviat Networks (NASDAQ:AVNW) last issued its earnings results on Thursday, December 7th. The communications equipment provider reported $0.75 earnings per share (EPS) for the quarter. Aviat Networks had a return on equity of 5.77% and a net margin of 0.31%.The company had revenue of $81.25 million during the quarter. On average, equities research analysts anticipate that Aviat Networks, Inc. will post 0.5 earnings per share for the current 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.