Connor Clark & Lunn Investment Management Ltd. Acquires 10,651 Shares of Aviat Networks, Inc. $AVNW

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Aviat Networks, Inc. (NASDAQ:AVNW) by 9.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 127,136 shares of the communications equipment provider’s stock after buying an additional 10,651 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.00% of Aviat Networks worth $3,058,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AVNW. First Eagle Investment Management LLC lifted its stake in shares of Aviat Networks by 15.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 378,549 shares of the communications equipment provider’s stock valued at $9,104,000 after purchasing an additional 49,642 shares during the period. Crown Advisors Management Inc. acquired a new position in Aviat Networks in the second quarter valued at about $2,164,000. FNY Investment Advisers LLC bought a new position in Aviat Networks during the second quarter worth about $170,000. Tectonic Advisors LLC grew its position in shares of Aviat Networks by 2.7% during the 2nd quarter. Tectonic Advisors LLC now owns 54,610 shares of the communications equipment provider’s stock worth $1,313,000 after buying an additional 1,440 shares during the period. Finally, Voya Investment Management LLC increased its stake in shares of Aviat Networks by 59.8% in the 1st quarter. Voya Investment Management LLC now owns 30,072 shares of the communications equipment provider’s stock valued at $576,000 after acquiring an additional 11,255 shares during the last quarter. Institutional investors own 78.62% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AVNW. Weiss Ratings raised shares of Aviat Networks from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday. Wall Street Zen raised shares of Aviat Networks from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Lake Street Capital restated a “buy” rating and issued a $34.00 price objective on shares of Aviat Networks in a research report on Wednesday, November 5th. Finally, B. Riley reiterated a “buy” rating and set a $35.00 target price (up from $33.00) on shares of Aviat Networks in a report on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.00.

Aviat Networks Trading Up 0.4%

AVNW opened at $22.11 on Friday. The stock has a market capitalization of $283.83 million, a P/E ratio of 276.41 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 $13.50 and a 12 month high of $26.83. The firm’s fifty day simple moving average is $23.31 and its 200 day simple moving average is $22.56.

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

Insiders Place Their Bets

In related news, CEO Pete A. Smith sold 5,350 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $23.39, for a total value of $125,136.50. Following the completion of the transaction, the chief executive officer owned 349,447 shares of the company’s stock, valued at approximately $8,173,565.33. This trade represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Gary Croke sold 6,742 shares of Aviat Networks 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 sale, the senior vice president owned 45,159 shares in the company, valued at $1,012,013.19. The trade was a 12.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 15,360 shares of company stock valued at $352,663 in the last quarter. 5.30% of the stock is currently owned by insiders.

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.