Aviat Networks (NASDAQ:AVNW) CEO Sells 14,264 Shares

Aviat Networks, Inc. (NASDAQ:AVNW) CEO Pete Smith sold 14,264 shares of Aviat Networks stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $19.69, for a total value of $280,858.16. Following the sale, the chief executive officer directly owned 367,840 shares of the company’s stock, valued at approximately $7,242,769.60. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Aviat Networks Stock Performance

AVNW traded down $1.27 during trading on Tuesday, hitting $18.66. The stock had a trading volume of 201,916 shares, compared to its average volume of 166,667. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.97 and a quick ratio of 1.66. The company has a 50 day moving average price of $20.91 and a 200-day moving average price of $21.23. Aviat Networks, Inc. has a one year low of $13.92 and a one year high of $27.02. The firm has a market cap of $238.85 million, a price-to-earnings ratio of 98.21 and a beta of 0.70.

Aviat Networks (NASDAQ:AVNW) last posted its quarterly earnings data on Thursday, August 27th. The communications equipment provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.09. Aviat Networks had a return on equity of 5.85% and a net margin of 0.58%.The firm had revenue of $120.89 million for the quarter, compared to analysts’ expectations of $110.12 million. As a group, research analysts predict that Aviat Networks, Inc. will post 2.44 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AVNW. Lake Street Capital set a $31.00 price target on shares of Aviat Networks and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Roth Capital reissued a “buy” rating and issued a $38.00 price objective (up from $34.00) on shares of Aviat Networks in a report on Friday. Citizens Jmp decreased their target price on shares of Aviat Networks from $30.00 to $25.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 6th. B. Riley Financial reaffirmed a “buy” rating and set a $33.00 target price (up from $28.00) on shares of Aviat Networks in a report on Friday. Finally, Zacks Research upgraded shares of Aviat Networks from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $32.71.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System raised its stake in Aviat Networks by 477.2% during the second quarter. California State Teachers Retirement System now owns 3,619 shares of the communications equipment provider’s stock worth $80,000 after acquiring an additional 2,992 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Aviat Networks in the 2nd quarter valued at approximately $274,000. Ancora Advisors LLC bought a new stake in shares of Aviat Networks during the 2nd quarter valued at approximately $55,000. Tieton Capital Management LLC bought a new stake in shares of Aviat Networks during the 2nd quarter valued at approximately $15,017,000. Finally, Bank of New York Mellon Corp acquired a new position in Aviat Networks during the 2nd quarter worth approximately $1,076,000. Institutional investors own 78.62% of the company’s stock.

Aviat Networks Company Profile

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.