Aviat Networks, Inc. (NASDAQ:AVNW) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in Aviat Networks, Inc. (NASDAQ:AVNW) by 3.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 364,100 shares of the communications equipment provider’s stock after acquiring an additional 11,094 shares during the period. JPMorgan Chase & Co.’s holdings in Aviat Networks were worth $7,875,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new stake in Aviat Networks in the third quarter valued at $589,000. State Street Corp lifted its holdings in shares of Aviat Networks by 1.6% in the 3rd quarter. State Street Corp now owns 237,689 shares of the communications equipment provider’s stock valued at $5,141,000 after buying an additional 3,855 shares during the period. Select Equity Group L.P. boosted its stake in shares of Aviat Networks by 8.7% in the second quarter. Select Equity Group L.P. now owns 380,184 shares of the communications equipment provider’s stock worth $10,907,000 after buying an additional 30,582 shares during the last quarter. Barclays PLC grew its holdings in Aviat Networks by 298.0% during the third quarter. Barclays PLC now owns 15,928 shares of the communications equipment provider’s stock worth $344,000 after acquiring an additional 11,926 shares during the period. Finally, Jane Street Group LLC raised its position in Aviat Networks by 59.1% during the third quarter. Jane Street Group LLC now owns 24,737 shares of the communications equipment provider’s stock valued at $535,000 after acquiring an additional 9,186 shares in the last quarter. Institutional investors and hedge funds own 78.62% of the company’s stock.

Wall Street Analyst Weigh In

AVNW has been the topic of several recent research reports. Roth Mkm lowered their price objective on Aviat Networks from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. 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 report on Wednesday, November 6th. JMP Securities restated a “market outperform” rating and set a $50.00 price target on shares of Aviat Networks in a research report on Tuesday, October 8th. Northland Securities decreased their price objective 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. Finally, StockNews.com cut Aviat Networks from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. One investment 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.60.

Insider Activity

In other news, CEO Pete A. Smith acquired 3,000 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were bought at an average price of $14.13 per share, for a total transaction of $42,390.00. Following the acquisition, the chief executive officer now owns 298,539 shares of the company’s stock, valued at approximately $4,218,356.07. This trade represents a 1.02 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Michael Connaway bought 3,500 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were acquired at an average cost of $14.13 per share, with a total value of $49,455.00. Following the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 7,400 shares of company stock worth $106,110 over the last 90 days. 4.10% of the stock is currently owned by company insiders.

Aviat Networks Price Performance

Shares of NASDAQ AVNW opened at $18.59 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.40 and a current ratio of 1.72. The firm has a fifty day moving average of $16.72 and a 200 day moving average of $22.28. The firm has a market cap of $235.91 million, a PE ratio of -59.97 and a beta of 1.69. Aviat Networks, Inc. has a one year low of $12.95 and a one year high of $38.85.

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.