Aviat Networks (NASDAQ:AVNW) Lowered to Buy at StockNews.com

StockNews.com downgraded shares of Aviat Networks (NASDAQ:AVNWGet Rating) from a strong-buy rating to a buy rating in a research report report published on Friday morning.

Several other analysts also recently issued reports on AVNW. Litchfield Hills Research reiterated a buy rating on shares of Aviat Networks in a research note on Wednesday, August 31st. JMP Securities initiated coverage on Aviat Networks in a report on Thursday, September 1st. They issued an outperform rating and a $50.00 price target for the company. Finally, B. Riley increased their target price on Aviat Networks from $56.00 to $57.00 in a report on Thursday, November 3rd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of $57.33.

Aviat Networks Stock Up 6.5 %

Aviat Networks stock opened at $30.04 on Friday. The firm has a 50-day moving average price of $29.80 and a two-hundred day moving average price of $29.29. The firm has a market capitalization of $340.05 million, a price-to-earnings ratio of 26.35 and a beta of 1.75. Aviat Networks has a 52-week low of $23.88 and a 52-week high of $35.18.

Aviat Networks (NASDAQ:AVNWGet Rating) last announced its earnings results on Tuesday, August 23rd. The communications equipment provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.07). Aviat Networks had a return on equity of 15.07% and a net margin of 4.41%. The company had revenue of $77.42 million for the quarter, compared to analyst estimates of $74.05 million. During the same period last year, the firm earned $0.45 earnings per share. Research analysts expect that Aviat Networks will post 2.91 earnings per share for the current year.

Insider Transactions at Aviat Networks

In related news, CEO Pete A. Smith purchased 1,550 shares of Aviat Networks stock in a transaction dated Monday, August 29th. The shares were acquired at an average cost of $32.39 per share, for a total transaction of $50,204.50. Following the transaction, the chief executive officer now directly owns 124,735 shares of the company’s stock, valued at $4,040,166.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Paradigm Capital Management Inc. NY lifted its holdings in Aviat Networks by 223.3% during the third quarter. Paradigm Capital Management Inc. NY now owns 319,100 shares of the communications equipment provider’s stock worth $8,737,000 after acquiring an additional 220,400 shares in the last quarter. Royce & Associates LP lifted its holdings in Aviat Networks by 43.4% during the first quarter. Royce & Associates LP now owns 614,327 shares of the communications equipment provider’s stock worth $18,903,000 after acquiring an additional 185,907 shares in the last quarter. Select Equity Group L.P. lifted its holdings in Aviat Networks by 527.9% during the first quarter. Select Equity Group L.P. now owns 213,394 shares of the communications equipment provider’s stock worth $6,566,000 after acquiring an additional 179,410 shares in the last quarter. Millennium Management LLC lifted its holdings in Aviat Networks by 343.0% during the second quarter. Millennium Management LLC now owns 206,038 shares of the communications equipment provider’s stock worth $5,159,000 after acquiring an additional 159,531 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Aviat Networks by 116.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 271,560 shares of the communications equipment provider’s stock valued at $7,435,000 after purchasing an additional 146,376 shares during the period. 63.72% of the stock is currently owned by institutional investors.

About Aviat Networks

(Get Rating)

Aviat Networks, Inc provides microwave networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific. The company offers outdoor, indoor, and split-mount radios; microwave routers and switches; microwave trunking; element management products; and software products, such as aviat design, frequency assurance software, and health assurance software.

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