Lazard Asset Management LLC Boosts Stake in Aviat Networks, Inc. (NASDAQ:AVNW)

Lazard Asset Management LLC raised its position in shares of Aviat Networks, Inc. (NASDAQ:AVNWGet Rating) by 2,982.7% in the second quarter, Holdings Channel.com reports. The fund owned 3,021 shares of the communications equipment provider’s stock after buying an additional 2,923 shares during the quarter. Lazard Asset Management LLC’s holdings in Aviat Networks were worth $75,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AVNW. Royce & Associates LP grew its position in Aviat Networks by 43.4% during the first quarter. Royce & Associates LP now owns 614,327 shares of the communications equipment provider’s stock valued at $18,903,000 after acquiring an additional 185,907 shares during the period. Select Equity Group L.P. boosted its position in shares of Aviat Networks by 527.9% in the first quarter. Select Equity Group L.P. now owns 213,394 shares of the communications equipment provider’s stock worth $6,566,000 after buying an additional 179,410 shares during the period. State Street Corp boosted its position in shares of Aviat Networks by 61.4% in the first quarter. State Street Corp now owns 272,987 shares of the communications equipment provider’s stock worth $8,400,000 after buying an additional 103,808 shares during the period. First Eagle Investment Management LLC purchased a new stake in shares of Aviat Networks in the first quarter worth about $1,875,000. Finally, Paradigm Capital Management Inc. NY boosted its position in shares of Aviat Networks by 97.4% in the second quarter. Paradigm Capital Management Inc. NY now owns 98,700 shares of the communications equipment provider’s stock worth $2,471,000 after buying an additional 48,700 shares during the period. Hedge funds and other institutional investors own 63.72% of the company’s stock.

Insider Transactions at Aviat Networks

In related news, CEO Pete A. Smith bought 1,550 shares of the business’s stock in a transaction dated Monday, August 29th. The shares were acquired at an average price of $32.39 per share, for a total transaction of $50,204.50. Following the purchase, the chief executive officer now owns 124,735 shares in the company, valued at approximately $4,040,166.65. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. StockNews.com downgraded Aviat Networks from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 11th. B. Riley upped their target price on Aviat Networks from $56.00 to $57.00 in a research report on Thursday, November 3rd. JMP Securities assumed coverage on Aviat Networks in a research report on Thursday, September 1st. They issued an “outperform” rating and a $50.00 target price for the company. Finally, Litchfield Hills Research reaffirmed a “buy” rating on shares of Aviat Networks in a research report on Wednesday, August 31st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Aviat Networks has an average rating of “Buy” and a consensus price target of $57.33.

Aviat Networks Trading Up 0.3 %

Aviat Networks stock opened at $31.66 on Friday. Aviat Networks, Inc. has a 52 week low of $23.88 and a 52 week high of $35.18. The stock has a market cap of $358.39 million, a P/E ratio of 27.77 and a beta of 1.75. The stock has a 50 day moving average of $29.67 and a 200-day moving average of $29.31.

Aviat Networks (NASDAQ:AVNWGet Rating) last posted its quarterly earnings results on Tuesday, August 23rd. The communications equipment provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.07). The company had revenue of $77.42 million during the quarter, compared to analyst estimates of $74.05 million. Aviat Networks had a net margin of 4.41% and a return on equity of 15.07%. During the same period in the prior year, the company earned $0.45 earnings per share. As a group, equities analysts predict that Aviat Networks, Inc. will post 2.91 earnings per share for the current fiscal year.

Aviat Networks Profile

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Aviat Networks, Inc provides microwave 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 and switches; microwave trunking; element management products; and software products, such as aviat design, frequency assurance software, and health assurance software.

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Institutional Ownership by Quarter for Aviat Networks (NASDAQ:AVNW)

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