Jacobs Levy Equity Management Inc. Purchases Shares of 197,352 Aviat Networks, Inc. $AVNW

Key Points

• Jacobs Levy Equity Management Inc. acquired 197,352 shares of Aviat Networks, valued at approximately $3.78 million, representing a 1.55% ownership stake as of the latest SEC filing.
• Several hedge funds increased their holdings in Aviat Networks during the fourth quarter, with Bank of America Corp DE boosting its stake by 125.4%.
• Aviat Networks' stock currently has a market cap of $285.02 million, with a 12-month price range between $12.95 and $26.83.

Jacobs Levy Equity Management Inc. purchased a new stake in shares of Aviat Networks, Inc. (NASDAQ:AVNW - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 197,352 shares of the communications equipment provider's stock, valued at approximately $3,783,000. Jacobs Levy Equity Management Inc. owned approximately 1.55% of Aviat Networks at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVNW. GAMMA Investing LLC lifted its holdings in Aviat Networks by 36.9% in the first quarter. GAMMA Investing LLC now owns 2,592 shares of the communications equipment provider's stock valued at $50,000 after acquiring an additional 699 shares during the period. Comerica Bank lifted its holdings in Aviat Networks by 40.2% in the first quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider's stock valued at $52,000 after acquiring an additional 780 shares during the period. US Bancorp DE bought a new position in Aviat Networks in the first quarter valued at about $82,000. Graham Capital Management L.P. bought a new position in Aviat Networks in the fourth quarter valued at about $214,000. Finally, NBC Securities Inc. bought a new position in Aviat Networks in the first quarter valued at about $274,000. 78.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Aviat Networks from a "hold" rating to a "buy" rating in a research note on Saturday. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, Aviat Networks currently has a consensus rating of "Buy" and a consensus target price of $36.50.

Aviat Networks Price Performance

AVNW traded up $0.11 on Monday, hitting $24.02. 18,337 shares of the company's stock traded hands, compared to its average volume of 124,726. The company's 50 day simple moving average is $22.79 and its 200-day simple moving average is $21.09. The firm has a market cap of $305.77 million, a price-to-earnings ratio of 300.54 and a beta of 1.59. Aviat Networks, Inc. has a one year low of $12.95 and a one year high of $26.83. The company has a current ratio of 1.64, a quick ratio of 1.35 and a debt-to-equity ratio of 0.26.

Insider Activity at Aviat Networks

In related news, SVP Gary Croke sold 6,742 shares of Aviat Networks stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $22.41, for a total transaction of $151,088.22. Following the sale, the senior vice president owned 45,159 shares of the company's stock, valued at approximately $1,012,013.19. This trade represents a 12.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Erin Boase sold 5,634 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $25.00, for a total value of $140,850.00. Following the transaction, the vice president owned 22,290 shares of the company's stock, valued at $557,250. This represents a 20.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,343 shares of company stock worth $406,913 in the last three months. 4.10% of the stock is owned by corporate insiders.

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.