First Eagle Investment Management LLC Grows Stock Holdings in Aviat Networks, Inc. $AVNW

First Eagle Investment Management LLC lifted its holdings in Aviat Networks, Inc. (NASDAQ:AVNW) by 15.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 378,549 shares of the communications equipment provider’s stock after acquiring an additional 49,642 shares during the quarter. First Eagle Investment Management LLC’s holdings in Aviat Networks were worth $9,104,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Comerica Bank boosted its holdings in Aviat Networks by 40.2% in the first quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock valued at $52,000 after purchasing an additional 780 shares during the last quarter. US Bancorp DE purchased a new position in shares of Aviat Networks during the 1st quarter valued at about $82,000. FNY Investment Advisers LLC acquired a new position in shares of Aviat Networks in the 2nd quarter valued at about $170,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Aviat Networks in the 1st quarter valued at about $425,000. Finally, Invesco Ltd. boosted its stake in shares of Aviat Networks by 23.0% in the first 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. 78.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Aviat Networks news, SVP Gary Croke sold 6,742 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $22.41, for a total transaction of $151,088.22. Following the completion of the transaction, the senior vice president directly owned 45,159 shares in the company, valued at approximately $1,012,013.19. This represents a 12.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on AVNW. B. Riley reiterated a “buy” rating and set a $35.00 price target (up from $33.00) on shares of Aviat Networks in a research report on Wednesday. Weiss Ratings restated a “sell (d)” rating on shares of Aviat Networks in a research report on Tuesday, October 14th. Lake Street Capital reaffirmed a “buy” rating and set a $34.00 price objective on shares of Aviat Networks in a research note on Wednesday. Finally, Wall Street Zen raised shares of Aviat Networks from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

Aviat Networks Stock Performance

Shares of AVNW stock opened at $22.81 on Friday. 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 business’s 50 day moving average is $23.28 and its two-hundred day moving average is $22.38. The company has a market capitalization of $292.01 million, a P/E ratio of 285.16 and a beta of 1.57.

Aviat Networks (NASDAQ:AVNW) last posted its quarterly earnings data on Thursday, December 7th. The communications equipment provider reported $0.75 EPS for the quarter. The business had revenue of $81.25 million during the quarter. Aviat Networks had a return on equity of 5.77% and a net margin of 0.31%. Analysts expect that Aviat Networks, Inc. will post 0.5 EPS for the current fiscal year.

Aviat Networks Company 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.