Insider Buying: Aviat Networks, Inc. (NASDAQ:AVNW) CFO Purchases $49,455.00 in Stock

Aviat Networks, Inc. (NASDAQ:AVNW) CFO Michael Connaway acquired 3,500 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average price of $14.13 per share, with a total value of $49,455.00. Following the completion of the acquisition, the chief financial officer now directly owns 57,893 shares of the company’s stock, valued at $818,028.09. This represents a 6.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Aviat Networks Stock Performance

Shares of AVNW opened at $13.91 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.40 and a debt-to-equity ratio of 0.33. The firm has a market cap of $176.52 million, a PE ratio of -44.87 and a beta of 1.81. Aviat Networks, Inc. has a 12 month low of $12.95 and a 12 month high of $38.85. The stock has a fifty day moving average price of $20.85 and a 200-day moving average price of $26.33.

Aviat Networks (NASDAQ:AVNW) last issued its quarterly earnings results on Friday, October 4th. The communications equipment provider reported $0.58 earnings per share for the quarter. Aviat Networks had a positive return on equity of 4.94% and a negative net margin of 0.98%. The business had revenue of $116.66 million during the quarter. Equities research analysts predict that Aviat Networks, Inc. will post 0.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AVNW. Hodges Capital Management Inc. increased its holdings in shares of Aviat Networks by 80.8% in the second quarter. Hodges Capital Management Inc. now owns 365,535 shares of the communications equipment provider’s stock valued at $10,487,000 after purchasing an additional 163,365 shares during the period. Tieton Capital Management LLC purchased a new stake in Aviat Networks in the third quarter valued at approximately $1,281,000. Royce & Associates LP increased its holdings in Aviat Networks by 8.5% in the 3rd quarter. Royce & Associates LP now owns 696,394 shares of the communications equipment provider’s stock worth $15,063,000 after buying an additional 54,339 shares during the period. Select Equity Group L.P. increased its holdings in Aviat Networks by 8.7% in the 2nd quarter. Select Equity Group L.P. now owns 380,184 shares of the communications equipment provider’s stock worth $10,907,000 after buying an additional 30,582 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Aviat Networks during the 3rd quarter worth approximately $598,000. Institutional investors and hedge funds own 78.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AVNW shares. Lake Street Capital dropped their price objective on shares of Aviat Networks from $45.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Roth Mkm dropped their target price on Aviat Networks from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. JMP Securities reissued a “market outperform” rating and issued a $50.00 price target on shares of Aviat Networks in a research report on Tuesday, October 8th. StockNews.com downgraded Aviat Networks from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Finally, B. Riley reduced their target price on shares of Aviat Networks from $55.00 to $42.00 and set a “buy” rating for the company in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.60.

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.