Aviat Networks (NASDAQ:AVNW) SVP Sells $181,146.80 in Stock

Aviat Networks, Inc. (NASDAQ:AVNW) SVP Gary Croke sold 6,914 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $26.20, for a total value of $181,146.80. Following the completion of the sale, the senior vice president owned 43,868 shares of the company’s stock, valued at $1,149,341.60. This trade represents a 13.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Aviat Networks Price Performance

Shares of AVNW opened at $25.92 on Thursday. The stock has a 50 day simple moving average of $22.06 and a 200 day simple moving average of $22.46. Aviat Networks, Inc. has a 52-week low of $15.80 and a 52-week high of $27.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.56 and a current ratio of 1.85. The firm has a market capitalization of $334.42 million, a PE ratio of 23.14 and a beta of 0.96.

Aviat Networks (NASDAQ:AVNW) last announced its quarterly earnings results on Tuesday, February 3rd. The communications equipment provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. The firm had revenue of $111.47 million for the quarter, compared to analyst estimates of $109.67 million. Aviat Networks had a net margin of 3.27% and a return on equity of 10.71%. Sell-side analysts predict that Aviat Networks, Inc. will post 0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Aviat Networks

Several hedge funds and other institutional investors have recently made changes to their positions in AVNW. American Century Companies Inc. increased its position in Aviat Networks by 157.8% during the second quarter. American Century Companies Inc. now owns 144,922 shares of the communications equipment provider’s stock worth $3,485,000 after buying an additional 88,713 shares during the last quarter. White Pine Capital LLC bought a new position in shares of Aviat Networks during the 2nd quarter worth approximately $676,000. Crown Advisors Management Inc. bought a new position in shares of Aviat Networks during the 2nd quarter worth approximately $2,164,000. First Eagle Investment Management LLC increased its holdings in shares of Aviat Networks by 15.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 378,549 shares of the communications equipment provider’s stock worth $9,104,000 after acquiring an additional 49,642 shares during the last quarter. Finally, First Wilshire Securities Management Inc. raised its stake in Aviat Networks by 22.2% in the 2nd quarter. First Wilshire Securities Management Inc. now owns 531,398 shares of the communications equipment provider’s stock valued at $12,780,000 after acquiring an additional 96,367 shares during the period. 78.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AVNW has been the topic of several recent research reports. Zacks Research raised Aviat Networks from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. Lake Street Capital reiterated a “buy” rating and set a $34.00 price objective on shares of Aviat Networks in a report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Aviat Networks in a research report on Monday, December 29th. B. Riley Securities reaffirmed a “buy” rating and set a $36.00 price target (up previously from $35.00) on shares of Aviat Networks in a research report on Wednesday, February 4th. Finally, Wall Street Zen cut shares of Aviat Networks from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Aviat Networks currently has an average rating of “Moderate Buy” and a consensus price target 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.