Aviat Networks (NASDAQ:AVNW) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Aviat Networks, Inc. (NASDAQ:AVNW) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $21.63 and traded as high as $21.99. Aviat Networks shares last traded at $20.95, with a volume of 110,732 shares traded.

Wall Street Analysts Forecast Growth

AVNW has been the subject of a number of research analyst reports. Zacks Research raised Aviat Networks from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Citigroup raised Aviat Networks to an “outperform” rating in a research note on Monday, June 15th. Rafferty Capital Markets assumed coverage on Aviat Networks in a report on Tuesday, June 30th. They set a “buy” rating and a $36.00 price objective for the company. Lake Street Capital set a $31.00 target price on Aviat Networks and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Finally, Citizens Jmp cut their target price on Aviat Networks from $30.00 to $25.00 and set a “market outperform” rating on the stock in a report on Wednesday, May 6th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.14.

Aviat Networks Price Performance

The company has a current ratio of 1.99, a quick ratio of 1.67 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average of $19.04 and a 200 day moving average of $21.62. The firm has a market capitalization of $269.41 million, a PE ratio of 30.19 and a beta of 0.70.

Aviat Networks (NASDAQ:AVNW) last posted its quarterly earnings data on Monday, May 4th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.36). The firm had revenue of $100.00 million for the quarter, compared to analysts’ expectations of $106.39 million. Aviat Networks had a return on equity of 6.89% and a net margin of 2.08%. As a group, research analysts anticipate that Aviat Networks, Inc. will post 1.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Aviat Networks

A number of institutional investors have recently added to or reduced their stakes in AVNW. Sei Investments Co. lifted its position in shares of Aviat Networks by 122.2% during the 1st quarter. Sei Investments Co. now owns 432,325 shares of the communications equipment provider’s stock worth $9,775,000 after buying an additional 237,761 shares in the last quarter. Western Standard LLC grew its holdings in shares of 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 acquiring an additional 226,332 shares in the last quarter. Weber Capital Management LLC ADV purchased a new stake in shares of Aviat Networks during the fourth quarter valued at approximately $3,099,000. Marshall Wace LLP lifted its holdings in Aviat Networks by 140.2% during the fourth quarter. Marshall Wace LLP now owns 226,580 shares of the communications equipment provider’s stock worth $4,844,000 after acquiring an additional 132,262 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in Aviat Networks by 67.6% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 285,868 shares of the communications equipment provider’s stock valued at $6,555,000 after purchasing an additional 115,298 shares during the period. 78.62% of the stock is owned by institutional investors.

About Aviat Networks

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.