Aviat Networks (NASDAQ:AVNW) Stock Passes Above 200 Day Moving Average – Time to Sell?

Aviat Networks, Inc. (NASDAQ:AVNW)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $23.09 and traded as high as $26.24. Aviat Networks shares last traded at $24.89, with a volume of 110,007 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AVNW shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Aviat Networks in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Aviat Networks from a “hold” rating to a “buy” rating in a report on Saturday, March 14th. B. Riley Financial reiterated a “buy” rating and set a $36.00 price target (up from $35.00) on shares of Aviat Networks in a report on Wednesday, February 4th. Zacks Research raised Aviat Networks from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, Roth Mkm dropped their price objective on Aviat Networks from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $34.50.

Aviat Networks Stock Down 3.5%

The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.56 and a current ratio of 1.85. The firm’s 50 day moving average price is $24.37 and its two-hundred day moving average price is $23.09. The company has a market cap of $295.84 million, a P/E ratio of 20.47 and a beta of 0.84.

Aviat Networks (NASDAQ:AVNW) last issued its earnings results on Tuesday, February 3rd. The communications equipment provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.06. Aviat Networks had a net margin of 3.27% and a return on equity of 10.71%. The business had revenue of $111.47 million for the quarter, compared to analyst estimates of $109.67 million. Equities research analysts anticipate that Aviat Networks, Inc. will post 0.5 EPS for the current fiscal year.

Insider Activity

In other news, SVP Gary Croke sold 6,914 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $26.20, for a total value of $181,146.80. Following the completion of the sale, the senior vice president directly owned 43,868 shares in the company, valued at $1,149,341.60. This trade represents a 13.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Pete A. Smith sold 17,086 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $26.33, for a total value of $449,874.38. Following the transaction, the chief executive officer directly owned 358,747 shares in the company, valued at approximately $9,445,808.51. This trade represents a 4.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On Aviat Networks

A number of institutional investors have recently modified their holdings of AVNW. Comerica Bank grew its position in Aviat Networks by 40.2% in the 1st quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock valued at $52,000 after purchasing an additional 780 shares during the period. BNP Paribas Financial Markets raised its holdings in Aviat Networks by 96.5% during the third quarter. BNP Paribas Financial Markets now owns 2,281 shares of the communications equipment provider’s stock worth $52,000 after buying an additional 1,120 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Aviat Networks by 6.7% in the second quarter. Rhumbline Advisers now owns 18,341 shares of the communications equipment provider’s stock valued at $441,000 after buying an additional 1,148 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Aviat Networks in the second quarter valued at $28,000. Finally, Quarry LP acquired a new position in shares of Aviat Networks during the third quarter valued at about $27,000. 78.62% of the stock is owned by institutional investors and hedge funds.

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.