Aviat Networks (NASDAQ:AVNW) CEO Pete Smith Sells 14,264 Shares of Stock

Aviat Networks, Inc. (NASDAQ:AVNW) CEO Pete Smith sold 14,264 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $19.69, for a total value of $280,858.16. Following the sale, the chief executive officer owned 367,840 shares of the company’s stock, valued at approximately $7,242,769.60. The trade was a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Aviat Networks Stock Performance

Shares of AVNW opened at $18.66 on Wednesday. The company has a market capitalization of $238.85 million, a price-to-earnings ratio of 98.21 and a beta of 0.70. Aviat Networks, Inc. has a 52-week low of $13.92 and a 52-week high of $27.02. The company has a quick ratio of 1.66, a current ratio of 1.97 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average price of $20.91 and a 200 day moving average price of $21.23.

Aviat Networks (NASDAQ:AVNW) last released its quarterly earnings data on Thursday, August 27th. The communications equipment provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.09. The company had revenue of $120.89 million for the quarter, compared to analysts’ expectations of $110.12 million. Aviat Networks had a net margin of 0.58% and a return on equity of 5.85%. Research analysts predict that Aviat Networks, Inc. will post 2.44 EPS for the current fiscal year.

Institutional Trading of Aviat Networks

Institutional investors have recently added to or reduced their stakes in the stock. Tieton Capital Management LLC purchased a new position in shares of Aviat Networks during the 2nd quarter worth approximately $15,017,000. Sei Investments Co. grew its holdings in Aviat Networks by 122.2% during the 1st quarter. Sei Investments Co. now owns 432,325 shares of the communications equipment provider’s stock valued at $9,775,000 after buying an additional 237,761 shares during the last quarter. Western Standard LLC increased its position in Aviat Networks by 84.5% during the fourth quarter. Western Standard LLC now owns 494,238 shares of the communications equipment provider’s stock worth $10,567,000 after buying an additional 226,332 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Aviat Networks by 140.2% in 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 last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in shares of Aviat Networks by 67.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 285,868 shares of the communications equipment provider’s stock valued at $6,555,000 after acquiring an additional 115,298 shares in the last quarter. Hedge funds and other institutional investors own 78.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AVNW. Lake Street Capital set a $31.00 price target on shares of Aviat Networks and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Weiss Ratings raised Aviat Networks from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 27th. Roth Capital reissued a “buy” rating and issued a $38.00 target price (up from $34.00) on shares of Aviat Networks in a report on Friday. Zacks Research raised Aviat Networks from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Northland Securities raised their price target on Aviat Networks from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, July 2nd. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.71.

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.