Aviat Networks, Inc. (NASDAQ:AVNW) CEO Buys $42,390.00 in Stock

Aviat Networks, Inc. (NASDAQ:AVNW) CEO Pete A. Smith acquired 3,000 shares of Aviat Networks stock in a transaction dated Friday, November 8th. The stock was bought at an average price of $14.13 per share, for a total transaction of $42,390.00. Following the completion of the transaction, the chief executive officer now directly owns 298,539 shares of the company’s stock, valued at approximately $4,218,356.07. This represents a 1.02 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Aviat Networks Stock Performance

Shares of AVNW stock opened at $13.91 on Friday. The firm has a market capitalization of $176.52 million, a price-to-earnings ratio of -44.87 and a beta of 1.81. The company has a 50 day moving average price of $20.85 and a 200 day moving average price of $26.33. Aviat Networks, Inc. has a one year low of $12.95 and a one year high of $38.85. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.40 and a current ratio of 1.72.

Aviat Networks (NASDAQ:AVNW) last issued its earnings results on Friday, October 4th. The communications equipment provider reported $0.58 earnings per share for the quarter. Aviat Networks had a positive return on equity of 4.94% and a negative net margin of 0.98%. The business had revenue of $116.66 million for the quarter. Sell-side analysts anticipate that Aviat Networks, Inc. will post 0.74 EPS for the current year.

Hedge Funds Weigh In On Aviat Networks

A number of large investors have recently modified their holdings of the company. Private Advisor Group LLC raised its holdings in Aviat Networks by 45.4% in the first quarter. Private Advisor Group LLC now owns 12,832 shares of the communications equipment provider’s stock valued at $492,000 after buying an additional 4,009 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Aviat Networks by 84.8% in the 1st quarter. BNP Paribas Financial Markets now owns 5,475 shares of the communications equipment provider’s stock valued at $210,000 after acquiring an additional 2,513 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Aviat Networks by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 552,071 shares of the communications equipment provider’s stock valued at $21,166,000 after acquiring an additional 11,662 shares in the last quarter. Covestor Ltd boosted its position in Aviat Networks by 309.8% during the 1st quarter. Covestor Ltd now owns 5,934 shares of the communications equipment provider’s stock worth $228,000 after purchasing an additional 4,486 shares during the period. Finally, Truvestments Capital LLC increased its holdings in Aviat Networks by 26.2% in the 1st quarter. Truvestments Capital LLC now owns 10,654 shares of the communications equipment provider’s stock valued at $408,000 after purchasing an additional 2,213 shares in the last quarter. 78.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. B. Riley cut their target price on shares of Aviat Networks from $55.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Roth Mkm cut their price objective on shares of Aviat Networks from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Northland Securities decreased their target price on shares of Aviat Networks from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Lake Street Capital cut their price target on Aviat Networks from $45.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, JMP Securities reissued a “market outperform” rating and set a $50.00 price target on shares of Aviat Networks in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.60.

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.