Erin Boase Sells 1,347 Shares of Aviat Networks (NASDAQ:AVNW) Stock

Aviat Networks, Inc. (NASDAQ:AVNW) VP Erin Boase sold 1,347 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $19.69, for a total value of $26,522.43. Following the transaction, the vice president directly owned 28,275 shares of the company’s stock, valued at approximately $556,734.75. This represents a 4.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Aviat Networks Trading Down 6.4%

Shares of NASDAQ AVNW traded down $1.27 during trading on Tuesday, reaching $18.66. The company had a trading volume of 201,916 shares, compared to its average volume of 166,667. The stock has a market cap of $238.85 million, a P/E ratio of 98.21 and a beta of 0.70. The company’s fifty day moving average price is $20.91 and its 200-day moving average price is $21.23. The company has a quick ratio of 1.66, a current ratio of 1.97 and a debt-to-equity ratio of 0.33. Aviat Networks, Inc. has a 12 month low of $13.92 and a 12 month high of $27.02.

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

Hedge Funds Weigh In On Aviat Networks

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP acquired a new stake in shares of Aviat Networks during the 3rd quarter worth approximately $27,000. Raymond James Financial Inc. acquired a new position in shares of Aviat Networks during the 2nd quarter valued at $28,000. Potomac Capital Management Inc. bought a new position in Aviat Networks during the fourth quarter worth $43,000. Comerica Bank grew its holdings in Aviat Networks by 40.2% in the first quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock worth $52,000 after purchasing an additional 780 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in Aviat Networks by 96.5% in the third quarter. BNP Paribas Financial Markets now owns 2,281 shares of the communications equipment provider’s stock valued at $52,000 after purchasing an additional 1,120 shares in the last quarter. 78.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AVNW has been the topic of a number of analyst reports. Craig Hallum assumed coverage on shares of Aviat Networks in a research note on Tuesday, June 30th. They issued a “buy” rating and a $36.00 price objective on the stock. Lake Street Capital set a $31.00 target price on shares of Aviat Networks and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Citigroup restated a “market outperform” rating on shares of Aviat Networks in a report on Friday. Rafferty Capital Markets began coverage on shares of Aviat Networks in a research report on Tuesday, June 30th. They set a “buy” rating and a $36.00 price target on the stock. Finally, Zacks Research upgraded Aviat Networks from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.71.

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.