Aviat Networks (NASDAQ:AVNW) SVP Sells $181,146.80 in Stock
by Sarita Garza · The Markets DailyAviat Networks, Inc. (NASDAQ:AVNW – Get Free Report) SVP Gary Croke sold 6,914 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $26.20, for a total transaction of $181,146.80. Following the transaction, the senior vice president directly owned 43,868 shares of the company’s stock, valued at $1,149,341.60. The trade was a 13.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Aviat Networks Trading Down 0.7%
Shares of Aviat Networks stock traded down $0.19 during trading on Monday, hitting $26.17. The company’s stock had a trading volume of 200,125 shares, compared to its average volume of 131,962. The stock has a market cap of $337.65 million, a price-to-earnings ratio of 23.37 and a beta of 0.96. Aviat Networks, Inc. has a 52 week low of $15.80 and a 52 week high of $27.02. The stock has a 50-day moving average price of $21.76 and a two-hundred day moving average price of $22.39. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.85 and a quick ratio of 1.56.
Aviat Networks (NASDAQ:AVNW – Get Free Report) last announced its earnings results 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 firm had revenue of $111.47 million for the quarter, compared to the consensus estimate of $109.67 million. Equities research analysts anticipate that Aviat Networks, Inc. will post 0.5 EPS for the current fiscal year.
Institutional Trading of Aviat Networks
Several large investors have recently made changes to their positions in the company. Comerica Bank raised its stake in Aviat Networks by 40.2% during the 1st quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock worth $52,000 after buying an additional 780 shares during the period. Royal Bank of Canada raised its position in shares of Aviat Networks by 290.7% during the first quarter. Royal Bank of Canada now owns 40,874 shares of the communications equipment provider’s stock worth $783,000 after purchasing an additional 30,413 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Aviat Networks by 20.6% in the 1st quarter. AQR Capital Management LLC now owns 84,954 shares of the communications equipment provider’s stock worth $1,629,000 after purchasing an additional 14,498 shares in the last quarter. Jane Street Group LLC grew its position in Aviat Networks by 6.9% in the 1st quarter. Jane Street Group LLC now owns 26,070 shares of the communications equipment provider’s stock valued at $500,000 after purchasing an additional 1,683 shares during the period. Finally, FNY Investment Advisers LLC bought a new stake in Aviat Networks during the 2nd quarter valued at $170,000. 78.62% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the stock. B. Riley Securities restated a “buy” rating and set a $36.00 price target (up previously from $35.00) on shares of Aviat Networks in a report on Wednesday, February 4th. Wall Street Zen downgraded shares of Aviat Networks from a “buy” rating to a “hold” rating in a research note on Saturday. Lake Street Capital restated a “buy” rating and issued a $34.00 target price on shares of Aviat Networks in a report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Aviat Networks in a report on Monday, December 29th. Finally, Roth Mkm lowered their price objective on Aviat Networks from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, February 4th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Aviat Networks presently has a consensus rating of “Moderate Buy” and an average price target of $34.80.
Check Out Our Latest Report on AVNW
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.