Aviat Networks, Inc. (NASDAQ:AVNW) CEO Purchases $30,700.00 in Stock

Aviat Networks, Inc. (NASDAQ:AVNW) CEO Pete A. Smith purchased 1,000 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average cost of $30.70 per share, with a total value of $30,700.00. Following the completion of the transaction, the chief executive officer now owns 242,199 shares in the company, valued at $7,435,509.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Aviat Networks Price Performance

Shares of NASDAQ:AVNW opened at $31.35 on Friday. The company has a market capitalization of $393.76 million, a P/E ratio of 27.74 and a beta of 1.78. Aviat Networks, Inc. has a 1-year low of $25.08 and a 1-year high of $38.85. The firm’s 50 day simple moving average is $34.59 and its two-hundred day simple moving average is $32.45. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.12 and a quick ratio of 1.79.

Aviat Networks (NASDAQ:AVNW) last released its earnings results on Wednesday, May 1st. The communications equipment provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The firm had revenue of $111.61 million for the quarter, compared to analysts’ expectations of $113.56 million. Aviat Networks had a net margin of 3.54% and a return on equity of 14.54%. During the same quarter last year, the firm posted $0.61 EPS. Research analysts expect that Aviat Networks, Inc. will post 3.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AVNW has been the subject of several recent research reports. StockNews.com upgraded shares of Aviat Networks from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. JMP Securities reissued a “market outperform” rating and set a $50.00 price target on shares of Aviat Networks in a report on Monday, February 5th. Finally, B. Riley dropped their price target on shares of Aviat Networks from $59.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Aviat Networks presently has a consensus rating of “Buy” and a consensus price target of $53.75.

Hedge Funds Weigh In On Aviat Networks

Several hedge funds have recently modified their holdings of AVNW. First Dallas Securities Inc. purchased a new stake in Aviat Networks in the 3rd quarter worth $1,070,000. Bailard Inc. bought a new position in Aviat Networks during the fourth quarter valued at approximately $255,000. First Eagle Investment Management LLC grew its holdings in Aviat Networks by 9.3% during the 3rd quarter. First Eagle Investment Management LLC now owns 199,160 shares of the communications equipment provider’s stock valued at $6,214,000 after buying an additional 16,875 shares in the last quarter. B. Riley Asset Management LLC increased its stake in Aviat Networks by 48.9% in the 3rd quarter. B. Riley Asset Management LLC now owns 156,278 shares of the communications equipment provider’s stock worth $4,876,000 after acquiring an additional 51,289 shares during the last quarter. Finally, SG Capital Management LLC purchased a new stake in shares of Aviat Networks during the 3rd quarter worth approximately $2,140,000. Hedge funds and other institutional investors own 78.62% of the company’s stock.

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.