Barclays PLC Grows Stake in Aviat Networks, Inc. (NASDAQ:AVNW)

Barclays PLC boosted its position in Aviat Networks, Inc. (NASDAQ:AVNW) by 298.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 15,928 shares of the communications equipment provider’s stock after acquiring an additional 11,926 shares during the period. Barclays PLC’s holdings in Aviat Networks were worth $344,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. bought a new position in Aviat Networks in the 3rd quarter worth about $589,000. State Street Corp increased 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 worth $5,141,000 after buying an additional 3,855 shares during the last quarter. Select Equity Group L.P. raised its position in Aviat Networks by 8.7% during the second quarter. Select Equity Group L.P. now owns 380,184 shares of the communications equipment provider’s stock valued at $10,907,000 after purchasing an additional 30,582 shares in the last quarter. Jane Street Group LLC increased its position in shares of Aviat Networks by 59.1% during the 3rd quarter. Jane Street Group LLC now owns 24,737 shares of the communications equipment provider’s stock valued at $535,000 after purchasing an additional 9,186 shares during the last quarter. Finally, Royce & Associates LP raised its holdings in shares of Aviat Networks by 8.5% during the 3rd quarter. Royce & Associates LP now owns 696,394 shares of the communications equipment provider’s stock valued at $15,063,000 after buying an additional 54,339 shares in the last quarter. Hedge funds and other institutional investors own 78.62% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. JMP Securities reissued a “market outperform” rating and set a $50.00 price target on shares of Aviat Networks in a research note on Tuesday, October 8th. Northland Securities dropped their price target 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. Roth Mkm dropped their target price on shares of Aviat Networks from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Lake Street Capital dropped their price objective on shares of Aviat Networks from $45.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, StockNews.com cut shares of Aviat Networks from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.60.

Insider Buying and Selling

In related news, CEO Pete A. Smith acquired 3,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was acquired at an average cost of $14.13 per share, with a total value of $42,390.00. Following the acquisition, the chief executive officer now directly owns 298,539 shares in the company, valued at $4,218,356.07. This represents a 1.02 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Michael Connaway purchased 3,500 shares of Aviat Networks stock in a transaction on Friday, November 8th. The stock was bought at an average price of $14.13 per share, for a total transaction of $49,455.00. Following the completion of the acquisition, the chief financial officer now owns 57,893 shares in the company, valued at $818,028.09. The trade was a 6.43 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 7,400 shares of company stock valued at $106,110. Company insiders own 4.10% of the company’s stock.

Aviat Networks Stock Performance

AVNW opened at $19.10 on Monday. The company has a 50 day simple moving average of $16.99 and a two-hundred day simple moving average of $22.03. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.72 and a quick ratio of 1.40. The firm has a market cap of $242.38 million, a P/E ratio of -61.61 and a beta of 1.69. Aviat Networks, Inc. has a 1-year low of $12.95 and a 1-year high of $38.85.

About Aviat Networks

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.