Aviat Networks, Inc. (NASDAQ:AVNW) CEO Acquires $30,700.00 in Stock

Aviat Networks, Inc. (NASDAQ:AVNW) CEO Pete A. Smith bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average price of $30.70 per share, for a total transaction of $30,700.00. Following the completion of the transaction, the chief executive officer now owns 242,199 shares in the company, valued at $7,435,509.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Aviat Networks Stock Down 0.4 %

NASDAQ:AVNW traded down $0.13 during trading hours on Tuesday, reaching $31.17. The company had a trading volume of 86,904 shares, compared to its average volume of 115,487. Aviat Networks, Inc. has a twelve month low of $25.08 and a twelve month high of $38.85. The company has a quick ratio of 1.79, a current ratio of 2.12 and a debt-to-equity ratio of 0.18. The firm has a market cap of $391.50 million, a price-to-earnings ratio of 27.69 and a beta of 1.78. The business’s 50-day simple moving average is $34.83 and its two-hundred day simple moving average is $32.43.

Aviat Networks (NASDAQ:AVNW) last issued its earnings results on Wednesday, May 1st. The communications equipment provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.01). Aviat Networks had a net margin of 3.54% and a return on equity of 14.54%. The firm had revenue of $111.61 million during the quarter, compared to analyst estimates of $113.56 million. During the same quarter in the prior year, the business earned $0.61 earnings per share. On average, equities analysts expect that Aviat Networks, Inc. will post 3.01 earnings per share for the current year.

Hedge Funds Weigh In On Aviat Networks

Institutional investors have recently modified their holdings of the company. Paradigm Capital Management Inc. NY raised its stake in shares of Aviat Networks by 16.8% in the third quarter. Paradigm Capital Management Inc. NY now owns 877,812 shares of the communications equipment provider’s stock worth $27,388,000 after purchasing an additional 126,101 shares during the last quarter. LSV Asset Management lifted its stake in Aviat Networks by 12.8% during the 3rd quarter. LSV Asset Management now owns 367,691 shares of the communications equipment provider’s stock valued at $11,472,000 after acquiring an additional 41,850 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Aviat Networks by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 267,334 shares of the communications equipment provider’s stock worth $8,341,000 after acquiring an additional 2,967 shares during the last quarter. First Eagle Investment Management LLC grew its stake in shares of Aviat Networks by 9.3% in the 3rd quarter. First Eagle Investment Management LLC now owns 199,160 shares of the communications equipment provider’s stock worth $6,214,000 after acquiring an additional 16,875 shares in the last quarter. Finally, B. Riley Asset Management LLC raised its holdings in shares of Aviat Networks by 48.9% in the third quarter. B. Riley Asset Management LLC now owns 156,278 shares of the communications equipment provider’s stock valued at $4,876,000 after purchasing an additional 51,289 shares during the last quarter. 78.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AVNW shares. B. Riley lowered their target price on Aviat Networks from $59.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. JMP Securities restated a “market outperform” rating and set a $50.00 price objective on shares of Aviat Networks in a research report on Monday, February 5th. Finally, StockNews.com raised shares of Aviat Networks from a “hold” rating to a “buy” rating in a research note on Friday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $53.75.

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.