Voya Investment Management LLC Boosts Stock Holdings in Aviat Networks, Inc. $AVNW

Key Points

• Voya Investment Management LLC increased its holdings in Aviat Networks, Inc. by 59.8% in the first quarter, owning 30,072 shares valued at approximately $576,000.
• Several large investors, including Royce & Associates LP and First Wilshire Securities Management Inc., have also increased their stakes in Aviat Networks, contributing to institutional investors holding 78.62% of the company’s stock.
• Investment analysts have upgraded Aviat Networks from a "hold" rating to a "buy" rating, with an average price target set at $36.50.

Voya Investment Management LLC raised its holdings in Aviat Networks, Inc. (NASDAQ:AVNW - Free Report) by 59.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,072 shares of the communications equipment provider's stock after purchasing an additional 11,255 shares during the period. Voya Investment Management LLC owned 0.24% of Aviat Networks worth $576,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of AVNW. Royce & Associates LP boosted its position in shares of Aviat Networks by 5.5% in the first quarter. Royce & Associates LP now owns 680,459 shares of the communications equipment provider's stock valued at $13,044,000 after acquiring an additional 35,580 shares during the period. First Wilshire Securities Management Inc. boosted its position in shares of Aviat Networks by 5.3% in the first quarter. First Wilshire Securities Management Inc. now owns 435,031 shares of the communications equipment provider's stock valued at $8,340,000 after acquiring an additional 21,839 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of Aviat Networks in the first quarter valued at approximately $3,783,000. Nuveen LLC bought a new position in shares of Aviat Networks in the first quarter valued at approximately $3,366,000. Finally, Pacific Ridge Capital Partners LLC bought a new position in shares of Aviat Networks in the first quarter valued at approximately $3,120,000. Hedge funds and other institutional investors own 78.62% of the company's stock.

Aviat Networks Trading Up 0.5%

Shares of Aviat Networks stock opened at $22.54 on Friday. Aviat Networks, Inc. has a 1 year low of $12.95 and a 1 year high of $26.83. The firm has a market cap of $288.51 million, a PE ratio of 281.79 and a beta of 1.59. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.64 and a quick ratio of 1.35. The company has a 50 day simple moving average of $22.70 and a two-hundred day simple moving average of $21.30.

Insider Activity at Aviat Networks

In related news, VP Erin Boase sold 5,634 shares of the stock in a transaction 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 transaction, the vice president owned 22,290 shares of the company's stock, valued at approximately $557,250. This trade represents a 20.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Gary Croke sold 6,742 shares of Aviat Networks stock in a transaction 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 completion of the transaction, the senior vice president owned 45,159 shares in the company, valued at approximately $1,012,013.19. The trade was a 12.99% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,576 shares of company stock valued at $296,938. 4.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Aviat Networks from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $36.50.

Aviat Networks Company 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.

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