17,215 Shares in Aviat Networks, Inc. (NASDAQ:AVNW) Purchased by PDT Partners LLC

PDT Partners LLC purchased a new position in shares of Aviat Networks, Inc. (NASDAQ:AVNW) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,215 shares of the communications equipment provider’s stock, valued at approximately $372,000. PDT Partners LLC owned about 0.14% of Aviat Networks as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AVNW. nVerses Capital LLC purchased a new position in Aviat Networks in the second quarter valued at about $29,000. NBC Securities Inc. purchased a new position in Aviat Networks in the third quarter valued at about $62,000. Dynamic Technology Lab Private Ltd purchased a new position in Aviat Networks in the third quarter valued at about $263,000. BNP Paribas Financial Markets boosted its stake in Aviat Networks by 635.0% in the third quarter. BNP Paribas Financial Markets now owns 14,244 shares of the communications equipment provider’s stock valued at $308,000 after acquiring an additional 12,306 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its stake in Aviat Networks by 183.9% in the third quarter. GSA Capital Partners LLP now owns 19,826 shares of the communications equipment provider’s stock valued at $429,000 after acquiring an additional 12,843 shares during the last quarter. 78.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AVNW has been the topic of a number of research analyst reports. B. Riley dropped their target price on shares of Aviat Networks from $55.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Roth Mkm dropped their price target on shares of Aviat Networks from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Northland Securities dropped their price target on shares of Aviat Networks from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. StockNews.com cut shares of Aviat Networks from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Finally, Lake Street Capital dropped their price target 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. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.60.

Insider Buying and Selling

In related news, CFO Michael Connaway purchased 3,500 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were purchased at an average price 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Pete A. Smith purchased 3,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was bought at an average cost of $14.13 per share, for a total transaction of $42,390.00. Following the acquisition, the chief executive officer now directly owns 298,539 shares in the company, valued at approximately $4,218,356.07. The trade was a 1.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have 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

Aviat Networks stock opened at $16.79 on Wednesday. The firm’s 50 day simple moving average is $19.00 and its 200 day simple moving average is $24.88. The company has a quick ratio of 1.40, a current ratio of 1.72 and a debt-to-equity ratio of 0.33. Aviat Networks, Inc. has a 1-year low of $12.95 and a 1-year high of $38.85.

Aviat Networks (NASDAQ:AVNW) last posted its earnings results on Friday, October 4th. The communications equipment provider reported $0.58 earnings per share for the quarter. The business had revenue of $116.66 million for the quarter. Aviat Networks had a negative net margin of 0.98% and a positive return on equity of 4.94%. Analysts expect that Aviat Networks, Inc. will post 1.13 earnings per share for the current fiscal 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.