Sei Investments Co. Buys 237,761 Shares of Aviat Networks, Inc. $AVNW

Sei Investments Co. lifted its stake in shares of Aviat Networks, Inc. (NASDAQ:AVNW) by 122.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 432,325 shares of the communications equipment provider’s stock after buying an additional 237,761 shares during the period. Sei Investments Co.’s holdings in Aviat Networks were worth $9,775,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of AVNW. Quarry LP acquired a new position in Aviat Networks in the third quarter valued at about $27,000. Raymond James Financial Inc. bought a new position in Aviat Networks in the 2nd quarter valued at about $28,000. Potomac Capital Management Inc. bought a new position in Aviat Networks in the 4th quarter valued at about $43,000. Comerica Bank raised its position 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 buying an additional 780 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Aviat Networks by 96.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,281 shares of the communications equipment provider’s stock valued at $52,000 after buying an additional 1,120 shares in the last quarter. Institutional investors own 78.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AVNW. Northland Securities increased their price target on shares of Aviat Networks from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, July 2nd. Rafferty Capital Markets started coverage on shares of Aviat Networks in a research report on Tuesday, June 30th. They set a “buy” rating and a $36.00 price objective for the company. Zacks Research upgraded Aviat Networks from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings downgraded Aviat Networks from a “hold (c)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen lowered Aviat Networks from a “buy” rating to a “hold” rating in a research note on Sunday, April 26th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.14.

Aviat Networks Stock Down 2.2%

AVNW stock opened at $20.48 on Friday. The firm has a 50-day moving average price of $20.02 and a 200-day moving average price of $21.54. Aviat Networks, Inc. has a 12 month low of $13.92 and a 12 month high of $27.02. The company has a current ratio of 1.99, a quick ratio of 1.67 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $265.01 million, a P/E ratio of 29.68 and a beta of 0.70.

Aviat Networks (NASDAQ:AVNW) last announced its quarterly earnings results on Monday, May 4th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.36). The company had revenue of $100.00 million for the quarter, compared to the consensus estimate of $106.39 million. Aviat Networks had a net margin of 2.08% and a return on equity of 6.89%. As a group, equities research analysts anticipate that Aviat Networks, Inc. will post 1.14 EPS for the current fiscal year.

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.