Sei Investments Co. Has $9.78 Million Stake in Aviat Networks, Inc. $AVNW

Key Points

• Sei Investments increased its Aviat Networks stake by 122.2% during the first quarter, owning 432,325 shares worth approximately $9.78 million, or 3.34% of the company. Institutional investors collectively own 78.62% of AVNW.
• Aviat Networks reported disappointing quarterly results, with earnings per share of $0.06 versus the $0.42 consensus estimate and revenue of $100 million compared with expectations of $106.39 million.
• Analyst sentiment remains broadly positive despite the earnings miss: eight analysts rate the stock a Buy, one rates it Hold and one rates it Sell, with a consensus target price of $33.14 versus the reported share price of $20.48.

Sei Investments Co. lifted its holdings in shares of Aviat Networks, Inc. (NASDAQ:AVNW - Free Report) by 122.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 432,325 shares of the communications equipment provider's stock after acquiring an additional 237,761 shares during the quarter. Sei Investments Co. owned approximately 3.34% of Aviat Networks worth $9,775,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in Aviat Networks by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 700,233 shares of the communications equipment provider's stock valued at $16,056,000 after acquiring an additional 8,179 shares during the period. Royce & Associates LP increased its holdings in shares of Aviat Networks by 8.5% in the fourth quarter. Royce & Associates LP now owns 648,235 shares of the communications equipment provider's stock valued at $13,859,000 after purchasing an additional 51,000 shares during the last quarter. First Wilshire Securities Management Inc. increased its holdings in shares of Aviat Networks by 1.0% in the first quarter. First Wilshire Securities Management Inc. now owns 529,533 shares of the communications equipment provider's stock valued at $11,973,000 after purchasing an additional 5,302 shares during the last quarter. Western Standard LLC increased its holdings in shares of Aviat Networks by 84.5% in the fourth quarter. Western Standard LLC now owns 494,238 shares of the communications equipment provider's stock valued at $10,567,000 after purchasing an additional 226,332 shares during the last quarter. Finally, Kennedy Capital Management LLC raised its position in shares of Aviat Networks by 5.8% in the third quarter. Kennedy Capital Management LLC now owns 445,947 shares of the communications equipment provider's stock valued at $10,226,000 after purchasing an additional 24,284 shares during the period. 78.62% of the stock is owned by institutional investors and hedge funds.

Aviat Networks Stock Down 2.2%

AVNW opened at $20.48 on Friday. The stock has a fifty day moving average of $20.02 and a 200-day moving average of $21.54. The company has a market capitalization of $265.01 million, a P/E ratio of 29.68 and a beta of 0.70. Aviat Networks, Inc. has a fifty-two week low of $13.92 and a fifty-two week high of $27.02. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.67 and a current ratio of 1.99.

Aviat Networks (NASDAQ:AVNW - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The communications equipment provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.36). Aviat Networks had a net margin of 2.08% and a return on equity of 6.89%. The business had revenue of $100.00 million during the quarter, compared to analyst estimates of $106.39 million. On average, equities analysts expect that Aviat Networks, Inc. will post 1.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Weiss Ratings cut shares of Aviat Networks from a "hold (c)" rating to a "sell (d)" rating in a research note on Wednesday, May 6th. Lake Street Capital set a $31.00 price target on shares of Aviat Networks and gave the company a "buy" rating in a research note on Tuesday, May 5th. Citizens Jmp cut their price objective on shares of Aviat Networks from $30.00 to $25.00 and set a "market outperform" rating for the company in a research report on Wednesday, May 6th. Zacks Research upgraded shares of Aviat Networks from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Finally, Northland Securities boosted their price objective on Aviat Networks from $25.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, July 2nd. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Aviat Networks presently has an average rating of "Moderate Buy" and a consensus target price of $33.14.

About Aviat Networks

Aviat Networks, Inc is a specialist in wireless transport solutions, designing, manufacturing and selling microwave networking products that enable the secure and reliable transmission of data, voice and video. The company's offerings address mission-critical communications needs for a broad range of end markets, including telecommunications service providers, utilities, government agencies and enterprises. Its product portfolio spans high-capacity packet microwave radios, IP transport systems and network management software.

Aviat's core product lines include the WTM series of packet microwave platforms, which deliver scalable throughput and advanced resilience features, and the Eclipse packet microwave systems, which combine broadband capacity with synchronization, security and quality-of-service capabilities.

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