Aviat Networks, Inc. (NASDAQ:AVNW) Given Consensus Recommendation of “Hold” by Analysts

Shares of Aviat Networks, Inc. (NASDAQ:AVNW) have earned a consensus recommendation of “Hold” from the five brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $33.00.

AVNW has been the subject of several analyst reports. Lake Street Capital reiterated a “buy” rating and set a $34.00 price objective on shares of Aviat Networks in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Aviat Networks in a research note on Monday, December 29th. 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, Zacks Research downgraded shares of Aviat Networks from a “hold” rating to a “strong sell” rating in a report on Monday, December 15th.

Insider Buying and Selling

In other news, CEO Pete A. Smith sold 5,350 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 349,447 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Also, Director Bruce M. Taten sold 3,268 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $23.39, for a total value of $76,438.52. Following the sale, the director directly owned 20,391 shares in the company, valued at approximately $476,945.49. The trade was a 13.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 5.30% of the company’s stock.

Institutional Trading of Aviat Networks

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Crown Advisors Management Inc. lifted its holdings in shares of Aviat Networks by 11.1% in the third quarter. Crown Advisors Management Inc. now owns 100,000 shares of the communications equipment provider’s stock valued at $2,293,000 after buying an additional 10,000 shares during the period. Acuitas Investments LLC raised its position in Aviat Networks by 100.1% in the third quarter. Acuitas Investments LLC now owns 63,377 shares of the communications equipment provider’s stock worth $1,453,000 after acquiring an additional 31,700 shares in the last quarter. Quarry LP acquired a new stake in Aviat Networks in the 3rd quarter valued at about $27,000. Bank of America Corp DE lifted its holdings in Aviat Networks by 512.5% in the 3rd quarter. Bank of America Corp DE now owns 33,790 shares of the communications equipment provider’s stock valued at $775,000 after acquiring an additional 28,273 shares during the last quarter. Finally, Boothbay Fund Management LLC boosted its position in shares of Aviat Networks by 8.6% during the 3rd quarter. Boothbay Fund Management LLC now owns 56,847 shares of the communications equipment provider’s stock valued at $1,304,000 after purchasing an additional 4,506 shares in the last quarter. Institutional investors own 78.62% of the company’s stock.

Aviat Networks Stock Up 1.4%

Aviat Networks stock opened at $22.39 on Friday. The company has a 50-day simple moving average of $21.55 and a 200-day simple moving average of $22.56. The firm has a market capitalization of $287.49 million, a P/E ratio of 21.74 and a beta of 0.94. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.51 and a current ratio of 1.84. Aviat Networks has a one year low of $15.80 and a one year high of $26.83.

Aviat Networks (NASDAQ:AVNW) last issued its quarterly earnings data on Tuesday, November 4th. The communications equipment provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.10. Aviat Networks had a net margin of 2.95% and a return on equity of 12.04%. The firm had revenue of $107.32 million for the quarter, compared to the consensus estimate of $102.63 million. As a group, equities analysts expect that Aviat Networks will post 0.5 earnings per share for the current year.

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.