Aviat Networks (NASDAQ:AVNW) CEO Sells $125,136.50 in Stock

Aviat Networks, Inc. (NASDAQ:AVNW) CEO Pete Smith sold 5,350 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 $125,136.50. Following the completion of the sale, the chief executive officer owned 349,447 shares in the company, valued at approximately $8,173,565.33. This trade represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Aviat Networks Trading Up 1.6%

NASDAQ:AVNW traded up $0.36 on Wednesday, reaching $23.09. The company’s stock had a trading volume of 73,167 shares, compared to its average volume of 119,399. Aviat Networks, Inc. has a 1-year low of $13.50 and a 1-year high of $26.83. The business’s 50-day moving average price is $23.29 and its two-hundred day moving average price is $22.53. The firm has a market cap of $296.41 million, a PE ratio of 288.66 and a beta of 1.57. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.35 and a current ratio of 1.64.

Aviat Networks (NASDAQ:AVNW) last announced its earnings results on Thursday, December 7th. The communications equipment provider reported $0.75 EPS for the quarter. The firm had revenue of $81.25 million for the quarter. Aviat Networks had a net margin of 0.31% and a return on equity of 5.77%. Equities research analysts anticipate that Aviat Networks, Inc. will post 0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. First Eagle Investment Management LLC boosted its holdings in shares of Aviat Networks by 0.5% during the third quarter. First Eagle Investment Management LLC now owns 380,356 shares of the communications equipment provider’s stock worth $8,722,000 after acquiring an additional 1,807 shares during the period. Pacific Ridge Capital Partners LLC increased its stake in shares of Aviat Networks by 34.5% during the third quarter. Pacific Ridge Capital Partners LLC now owns 311,254 shares of the communications equipment provider’s stock worth $7,137,000 after purchasing an additional 79,774 shares during the period. White Pine Capital LLC lifted its holdings in Aviat Networks by 95.4% during the 3rd quarter. White Pine Capital LLC now owns 54,926 shares of the communications equipment provider’s stock worth $1,259,000 after purchasing an additional 26,813 shares during the last quarter. Vanguard Group Inc. boosted its stake in Aviat Networks by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 700,233 shares of the communications equipment provider’s stock valued at $16,056,000 after purchasing an additional 8,179 shares during the period. Finally, State of Wyoming bought a new stake in Aviat Networks in the 3rd quarter valued at $63,000. 78.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AVNW has been the subject of a number of analyst reports. B. Riley reaffirmed a “buy” rating and issued a $35.00 target price (up previously from $33.00) on shares of Aviat Networks in a research report on Wednesday, November 5th. Wall Street Zen upgraded Aviat Networks from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Lake Street Capital reaffirmed a “buy” rating and set a $34.00 price target on shares of Aviat Networks in a research report on Wednesday, November 5th. Finally, Weiss Ratings upgraded shares of Aviat Networks from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

Aviat Networks Company Profile

Aviat Networks, Inc provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific. The company offers outdoor, indoor, and split-mount radios; microwave routers, switches, and trunking; and private LTE, virtual fiber, and element management products; and hosted software products, such as aviat design, frequency assurance software, and health assurance software.