Aviat Networks (NASDAQ:AVNW) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Aviat Networks, Inc. (NASDAQ:AVNW) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $22.89 and traded as high as $26.25. Aviat Networks shares last traded at $25.74, with a volume of 98,830 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AVNW. Zacks Research upgraded shares of Aviat Networks from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Aviat Networks in a research note on Monday, December 29th. Citizens Jmp reissued a “market outperform” rating and issued a $30.00 price objective on shares of Aviat Networks in a research report on Wednesday, February 4th. B. Riley Financial reissued a “buy” rating and issued a $36.00 price objective (up from $35.00) on shares of Aviat Networks in a research note on Wednesday, February 4th. Finally, Roth Mkm cut their target price 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 analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Aviat Networks presently has a consensus rating of “Moderate Buy” and an average price target of $34.50.

Aviat Networks Stock Down 3.5%

The company has a quick ratio of 1.56, a current ratio of 1.85 and a debt-to-equity ratio of 0.37. The stock has a market cap of $323.58 million, a P/E ratio of 22.39 and a beta of 0.84. The company’s 50 day moving average price is $23.64 and its two-hundred day moving average price is $22.91.

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

Insider Transactions at Aviat Networks

In other news, SVP Gary Croke sold 6,914 shares of the business’s stock in a transaction dated Friday, February 6th. The shares were 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 owned 43,868 shares in the company, valued at approximately $1,149,341.60. The trade was a 13.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Pete A. Smith sold 17,086 shares of the stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $26.33, for a total transaction of $449,874.38. Following the transaction, the chief executive officer owned 358,747 shares in the company, valued at approximately $9,445,808.51. This represents a 4.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On Aviat Networks

Hedge funds have recently made changes to their positions in the stock. Invesco Ltd. raised its holdings in Aviat Networks by 17.1% in the fourth quarter. Invesco Ltd. now owns 28,691 shares of the communications equipment provider’s stock worth $613,000 after purchasing an additional 4,187 shares in the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Aviat Networks by 17.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 42,300 shares of the communications equipment provider’s stock valued at $904,000 after buying an additional 6,200 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Aviat Networks by 73.1% in the 4th quarter. AQR Capital Management LLC now owns 81,627 shares of the communications equipment provider’s stock worth $1,745,000 after buying an additional 34,478 shares during the last quarter. State of Wisconsin Investment Board purchased a new position in shares of Aviat Networks in the 4th quarter worth approximately $333,000. Finally, Graham Capital Management L.P. purchased a new stake in Aviat Networks during the fourth quarter valued at approximately $207,000. 78.62% of the stock is currently owned by hedge funds and other institutional investors.

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.