Dynamic Technology Lab Private Ltd Takes Position in Aviat Networks, Inc. $AVNW

Key Points

• Dynamic Technology Lab Private Ltd acquired 32,994 shares of Aviat Networks, Inc., valued at approximately $632,000, representing 0.26% of the company's stock as per its latest SEC filing.
• Other institutional investors have also increased their stakes in Aviat Networks, with significant acquisitions from companies like Bank of America Corp DE, which raised its holdings by 125.4% in the fourth quarter.
• Aviat Networks' stock opened at $22.39, showing an increase of 0.1%, with a market capitalization of $285.02 million and a P/E ratio of -111.95.

Dynamic Technology Lab Private Ltd purchased a new stake in Aviat Networks, Inc. (NASDAQ:AVNW - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 32,994 shares of the communications equipment provider's stock, valued at approximately $632,000. Dynamic Technology Lab Private Ltd owned about 0.26% of Aviat Networks at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. bought a new stake in shares of Aviat Networks in the 1st quarter valued at about $3,783,000. AQR Capital Management LLC increased its stake in shares of Aviat Networks by 20.6% in the 1st quarter. AQR Capital Management LLC now owns 84,954 shares of the communications equipment provider's stock valued at $1,629,000 after acquiring an additional 14,498 shares during the last quarter. Ancora Advisors LLC increased its stake in shares of Aviat Networks by 18.5% in the 1st quarter. Ancora Advisors LLC now owns 97,005 shares of the communications equipment provider's stock valued at $1,860,000 after acquiring an additional 15,178 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Aviat Networks by 290.7% in the 1st quarter. Royal Bank of Canada now owns 40,874 shares of the communications equipment provider's stock valued at $783,000 after acquiring an additional 30,413 shares during the last quarter. Finally, Comerica Bank increased its stake in shares of Aviat Networks by 40.2% in the 1st 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 last quarter. 78.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity at Aviat Networks

In other news, 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 transaction of $140,850.00. Following the completion of the transaction, the vice president directly owned 22,290 shares of the company's stock, valued at $557,250. This trade represents a 20.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Gary Croke sold 6,742 shares of the firm's 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 transaction, the senior vice president directly owned 45,159 shares of the company's stock, valued at $1,012,013.19. This represents a 12.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,343 shares of company stock valued at $406,913 over the last ninety days. Company insiders own 4.10% of the company's stock.

Aviat Networks Stock Down 6.5%

Shares of AVNW traded down $1.66 during mid-day trading on Friday, hitting $23.91. 158,386 shares of the company's stock were exchanged, compared to its average volume of 117,343. The company has a market cap of $304.49 million, a PE ratio of 298.91 and a beta of 1.59. Aviat Networks, Inc. has a 52 week low of $12.95 and a 52 week high of $26.83. The company has a 50-day simple moving average of $22.79 and a 200 day simple moving average of $21.09. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.64 and a quick ratio of 1.29.

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.