Aviat Networks (NASDAQ:AVNW) CEO Sells $449,874.38 in Stock

Aviat Networks, Inc. (NASDAQ:AVNW) CEO Pete Smith sold 17,086 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $26.33, for a total transaction of $449,874.38. Following the completion of the sale, the chief executive officer owned 358,747 shares in the company, valued at $9,445,808.51. This represents a 4.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Aviat Networks Price Performance

Shares of AVNW opened at $25.04 on Friday. The firm has a fifty day simple moving average of $22.15 and a two-hundred day simple moving average of $22.48. The firm has a market cap of $323.02 million, a PE ratio of 22.36 and a beta of 0.96. The company has a current ratio of 1.85, a quick ratio of 1.56 and a debt-to-equity ratio of 0.37. Aviat Networks, Inc. has a 1-year low of $15.80 and a 1-year high of $27.02.

Aviat Networks (NASDAQ:AVNW) last issued its quarterly earnings data on Tuesday, February 3rd. The communications equipment provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. The company had revenue of $111.47 million during the quarter, compared to analyst estimates of $109.67 million. Aviat Networks had a return on equity of 10.71% and a net margin of 3.27%. On average, equities analysts anticipate that Aviat Networks, Inc. will post 0.5 EPS for the current year.

Institutional Trading of Aviat Networks

Several institutional investors and hedge funds have recently modified their holdings of AVNW. Quarry LP purchased a new position in shares of Aviat Networks during the 3rd quarter valued at $27,000. Raymond James Financial Inc. bought a new stake in Aviat Networks during the second quarter valued at about $28,000. Potomac Capital Management Inc. purchased a new position in shares of Aviat Networks in the fourth quarter valued at about $43,000. Comerica Bank boosted its stake in shares of Aviat Networks by 40.2% in the first quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock worth $52,000 after acquiring an additional 780 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of Aviat Networks by 96.5% in the third quarter. BNP Paribas Financial Markets now owns 2,281 shares of the communications equipment provider’s stock worth $52,000 after acquiring an additional 1,120 shares during the period. 78.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AVNW has been the topic of a number of research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Aviat Networks in a report on Monday, December 29th. B. Riley Securities reiterated a “buy” rating and issued a $36.00 price target (up from $35.00) on shares of Aviat Networks in a research report on Wednesday, February 4th. Citizens Jmp reissued a “market outperform” rating and set a $30.00 price objective on shares of Aviat Networks in a research report on Wednesday, February 4th. Wall Street Zen lowered Aviat Networks from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $34.00 target price on shares of Aviat Networks in a report on Wednesday, November 5th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.80.

Aviat Networks Company Profile

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.