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

Aviat Networks, Inc. (NASDAQ:AVNW) CEO Pete Smith sold 5,350 shares of Aviat Networks stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $23.39, for a total value of $125,136.50. Following the completion of the sale, the chief executive officer directly owned 349,447 shares of the company’s stock, valued at $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 0.4%

Shares of AVNW opened at $22.11 on Friday. The stock’s fifty day simple moving average is $23.31 and its 200-day simple moving average is $22.56. The firm has a market capitalization of $283.83 million, a PE ratio of 276.41 and a beta of 1.57. Aviat Networks, Inc. has a 12-month low of $13.50 and a 12-month high of $26.83. The company has a quick ratio of 1.35, a current ratio of 1.64 and a debt-to-equity ratio of 0.26.

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

Hedge Funds Weigh In On Aviat Networks

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Royce & Associates LP lifted its holdings in Aviat Networks by 5.5% during the first quarter. Royce & Associates LP now owns 680,459 shares of the communications equipment provider’s stock worth $13,044,000 after acquiring an additional 35,580 shares in the last quarter. US Bancorp DE bought a new position in shares of Aviat Networks during the 1st quarter valued at about $82,000. Pacific Ridge Capital Partners LLC bought a new position in shares of Aviat Networks during the 1st quarter valued at about $3,120,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Aviat Networks by 148.0% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 116,485 shares of the communications equipment provider’s stock valued at $2,233,000 after purchasing an additional 69,521 shares during the period. Finally, Invesco Ltd. increased its stake in Aviat Networks by 23.0% during the 1st quarter. Invesco Ltd. now owns 24,106 shares of the communications equipment provider’s stock worth $462,000 after purchasing an additional 4,515 shares in the last quarter. 78.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on AVNW. Lake Street Capital restated a “buy” rating and issued a $34.00 price objective on shares of Aviat Networks in a report on Wednesday, November 5th. Weiss Ratings upgraded shares of Aviat Networks from a “sell (d)” rating to a “hold (c-)” rating in a research report on Monday. B. Riley reissued a “buy” rating and issued a $35.00 price target (up previously from $33.00) on shares of Aviat Networks in a research note on Wednesday, November 5th. Finally, Wall Street Zen upgraded Aviat Networks from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Aviat Networks has a consensus 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.