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

Aviat Networks, Inc. (NASDAQ:AVNW) CEO Pete A. Smith acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average cost of $14.13 per share, with a total value of $42,390.00. Following the completion of the purchase, the chief executive officer now directly owns 298,539 shares in the company, valued at $4,218,356.07. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Aviat Networks Price Performance

AVNW traded down $0.58 during trading on Tuesday, reaching $14.00. 359,791 shares of the company traded hands, compared to its average volume of 121,780. The firm has a fifty day simple moving average of $21.58 and a 200 day simple moving average of $26.64. Aviat Networks, Inc. has a 12-month low of $12.95 and a 12-month high of $38.85. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.57 and a current ratio of 1.72. The company has a market cap of $177.66 million, a P/E ratio of -45.16 and a beta of 1.81.

Aviat Networks (NASDAQ:AVNW) last issued its quarterly earnings results on Friday, October 4th. The communications equipment provider reported $0.58 earnings per share for the quarter. The business had revenue of $116.66 million for the quarter. Aviat Networks had a positive return on equity of 4.94% and a negative net margin of 0.98%. On average, equities analysts forecast that Aviat Networks, Inc. will post 2.08 EPS for the current year.

Institutional Trading of Aviat Networks

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers boosted its holdings in Aviat Networks by 2.9% in the second quarter. Rhumbline Advisers now owns 18,716 shares of the communications equipment provider’s stock valued at $537,000 after purchasing an additional 523 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Aviat Networks during the 2nd quarter valued at $29,000. Delphi Management Inc. MA grew its holdings in shares of Aviat Networks by 6.5% in the 1st quarter. Delphi Management Inc. MA now owns 21,451 shares of the communications equipment provider’s stock worth $822,000 after acquiring an additional 1,305 shares during the last quarter. Truvestments Capital LLC boosted its position in shares of Aviat Networks by 26.2% in the first quarter. Truvestments Capital LLC now owns 10,654 shares of the communications equipment provider’s stock worth $408,000 after buying an additional 2,213 shares during the period. Finally, Bright Futures Wealth Management LLC. boosted its position in Aviat Networks by 16.2% during the second quarter. Bright Futures Wealth Management LLC. now owns 17,022 shares of the communications equipment provider’s stock valued at $484,000 after purchasing an additional 2,375 shares during the last quarter. 78.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AVNW has been the topic of a number of analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $50.00 target price on shares of Aviat Networks in a research report on Tuesday, October 8th. Northland Securities lowered their price target on shares of Aviat Networks from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. 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 report on Friday, September 13th. Lake Street Capital decreased their price objective on shares of Aviat Networks from $45.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, StockNews.com lowered shares of Aviat Networks from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.