Aviat Networks, Inc. (NASDAQ:AVNW) CEO Pete A. Smith Acquires 1,000 Shares

Aviat Networks, Inc. (NASDAQ:AVNW – Get Rating) CEO Pete A. Smith purchased 1,000 shares of the company’s stock in a transaction on Friday, May 12th. The shares were purchased at an average cost of $29.83 per share, with a total value of $29,830.00. Following the transaction, the chief executive officer now directly owns 192,918 shares in the company, valued at $5,754,743.94. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Aviat Networks Price Performance

Aviat Networks stock opened at $30.23 on Tuesday. The stock has a market cap of $345.86 million, a P/E ratio of 28.52 and a beta of 1.65. Aviat Networks, Inc. has a 1 year low of $21.15 and a 1 year high of $39.80. The firm’s 50 day moving average price is $33.09 and its 200-day moving average price is $32.60.

Analyst Ratings Changes

Several brokerages have commented on AVNW. JMP Securities restated a “market outperform” rating and issued a $50.00 price objective on shares of Aviat Networks in a report on Monday, March 13th. B. Riley increased their price target on shares of Aviat Networks from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, February 2nd. Finally, StockNews.com downgraded shares of Aviat Networks from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.67.

Institutional Investors Weigh In On Aviat Networks

Several large investors have recently bought and sold shares of AVNW. Bank of New York Mellon Corp increased its position in Aviat Networks by 5.7% in the first quarter. Bank of New York Mellon Corp now owns 64,488 shares of the communications equipment provider’s stock worth $1,985,000 after purchasing an additional 3,473 shares during the last quarter. MetLife Investment Management LLC boosted its stake in shares of Aviat Networks by 58.5% during the first quarter. MetLife Investment Management LLC now owns 5,718 shares of the communications equipment provider’s stock valued at $176,000 after purchasing an additional 2,110 shares during the period. Rhumbline Advisers boosted its stake in shares of Aviat Networks by 15.4% during the first quarter. Rhumbline Advisers now owns 13,944 shares of the communications equipment provider’s stock valued at $429,000 after purchasing an additional 1,864 shares during the period. BlackRock Inc. boosted its stake in shares of Aviat Networks by 5.7% during the first quarter. BlackRock Inc. now owns 525,162 shares of the communications equipment provider’s stock valued at $16,159,000 after purchasing an additional 28,213 shares during the period. Finally, LSV Asset Management boosted its stake in shares of Aviat Networks by 5.0% during the first quarter. LSV Asset Management now owns 25,400 shares of the communications equipment provider’s stock valued at $782,000 after purchasing an additional 1,200 shares during the period. Institutional investors own 68.93% of the company’s stock.

About Aviat Networks

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Aviat Networks, Inc engages in the design, manufacture, and sale of wireless network products and solutions. Its product includes wireless transmission networking systems for microwave and millimeter wave networking applications such as microwave routers, microwave switches, and split mount RF unit. It also offers services such as network planning and design, site surveys and construction, systems integration, installation, maintenance, network monitoring, training, and customer services.