Aviat Networks (NASDAQ:AVNW) Price Target Cut to $38.00 by Analysts at Roth Mkm

Aviat Networks (NASDAQ:AVNWGet Free Report) had its price target lowered by research analysts at Roth Mkm from $41.00 to $38.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the communications equipment provider’s stock. Roth Mkm’s price target points to a potential upside of 50.67% from the company’s previous close.

A number of other analysts have also recently weighed in on AVNW. Lake Street Capital reaffirmed a “buy” rating and set a $34.00 price objective on shares of Aviat Networks in a research report on Wednesday, November 5th. Zacks Research upgraded Aviat Networks from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. B. Riley reaffirmed a “buy” rating and issued a $36.00 price objective (up previously from $35.00) on shares of Aviat Networks in a report on Wednesday. Citizens Jmp reissued a “market outperform” rating and set a $30.00 target price on shares of Aviat Networks in a research note on Wednesday. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Aviat Networks in a research note on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.60.

Read Our Latest Stock Analysis on AVNW

Aviat Networks Price Performance

Aviat Networks stock traded up $2.79 during mid-day trading on Wednesday, hitting $25.22. The stock had a trading volume of 278,999 shares, compared to its average volume of 111,816. The firm has a market capitalization of $323.82 million, a P/E ratio of 24.80 and a beta of 0.96. The firm’s 50 day moving average is $21.51 and its 200 day moving average is $22.35. Aviat Networks has a one year low of $15.80 and a one year high of $27.02. The company has a current ratio of 1.84, a quick ratio of 1.51 and a debt-to-equity ratio of 0.39.

Aviat Networks (NASDAQ:AVNWGet Free Report) last released its quarterly earnings data on Tuesday, February 3rd. The communications equipment provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. Aviat Networks had a net margin of 2.95% and a return on equity of 12.04%. The business had revenue of $111.47 million during the quarter, compared to the consensus estimate of $109.67 million. On average, sell-side analysts forecast that Aviat Networks will post 0.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Aviat Networks

In other news, Director Bruce M. Taten sold 3,268 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $23.39, for a total transaction of $76,438.52. Following the sale, the director owned 20,391 shares in the company, valued at approximately $476,945.49. This represents a 13.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Pete A. Smith sold 5,350 shares of Aviat Networks stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $23.39, for a total value of $125,136.50. Following the completion of the transaction, the chief executive officer directly owned 349,447 shares of the company’s stock, valued at $8,173,565.33. This represents a 1.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 5.30% of the company’s stock.

Institutional Trading of Aviat Networks

A number of institutional investors and hedge funds have recently modified their holdings of AVNW. Western Standard LLC increased its stake in Aviat Networks by 84.5% in the fourth quarter. Western Standard LLC now owns 494,238 shares of the communications equipment provider’s stock valued at $10,567,000 after purchasing an additional 226,332 shares in the last quarter. Weber Capital Management LLC ADV acquired a new position in Aviat Networks during the 4th quarter worth approximately $3,099,000. Tectonic Advisors LLC raised its stake in shares of Aviat Networks by 3.9% during the fourth quarter. Tectonic Advisors LLC now owns 48,071 shares of the communications equipment provider’s stock valued at $1,028,000 after acquiring an additional 1,813 shares during the last quarter. Crown Advisors Management Inc. boosted its position in shares of Aviat Networks by 11.1% during the 3rd quarter. Crown Advisors Management Inc. now owns 100,000 shares of the communications equipment provider’s stock valued at $2,293,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Acuitas Investments LLC raised its stake in Aviat Networks by 100.1% during the 3rd quarter. Acuitas Investments LLC now owns 63,377 shares of the communications equipment provider’s stock worth $1,453,000 after buying an additional 31,700 shares during the period. 78.62% of the stock is owned by institutional investors.

Key Stories Impacting Aviat Networks

Here are the key news stories impacting Aviat Networks this week:

About Aviat Networks

(Get Free Report)

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.

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Analyst Recommendations for Aviat Networks (NASDAQ:AVNW)

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