Aviat Networks, Inc. (NASDAQ:AVNW) Receives $33.00 Average Price Target from Brokerages

Aviat Networks, Inc. (NASDAQ:AVNW) has received a consensus rating of “Hold” from the five brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $33.00.

Several equities research analysts have recently commented on the company. Lake Street Capital reaffirmed a “buy” rating and set a $34.00 target price on shares of Aviat Networks in a report on Wednesday, November 5th. B. Riley reissued a “buy” rating and issued a $35.00 target price (up from $33.00) on shares of Aviat Networks in a research report on Wednesday, November 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Aviat Networks in a report on Monday, December 29th. Finally, Zacks Research lowered shares of Aviat Networks from a “hold” rating to a “strong sell” rating in a research note on Monday, December 15th.

Aviat Networks Price Performance

NASDAQ:AVNW opened at $21.62 on Friday. Aviat Networks has a 52-week low of $15.80 and a 52-week high of $26.83. The company has a quick ratio of 1.51, a current ratio of 1.84 and a debt-to-equity ratio of 0.39. The business’s 50-day moving average price is $21.63 and its 200 day moving average price is $22.60. The firm has a market cap of $277.60 million, a P/E ratio of 20.99 and a beta of 0.94.

Aviat Networks (NASDAQ:AVNW) last released its earnings results on Tuesday, November 4th. The communications equipment provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.10. The business had revenue of $107.32 million for the quarter, compared to the consensus estimate of $102.63 million. Aviat Networks had a net margin of 2.95% and a return on equity of 12.04%. As a group, sell-side analysts predict that Aviat Networks will post 0.5 earnings per share for the current fiscal year.

Insider Transactions at Aviat Networks

In other Aviat Networks news, CEO Pete A. Smith sold 5,350 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $23.39, for a total transaction of $125,136.50. Following the completion of the sale, the chief executive officer directly owned 349,447 shares in the company, valued at approximately $8,173,565.33. This trade represents a 1.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bruce M. Taten sold 3,268 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $23.39, for a total value of $76,438.52. Following the completion of the transaction, the director owned 20,391 shares in the company, valued at $476,945.49. This represents a 13.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Aviat Networks by 1.2% in the third quarter. Vanguard Group Inc. now owns 700,233 shares of the communications equipment provider’s stock worth $16,056,000 after buying an additional 8,179 shares during the last quarter. First Wilshire Securities Management Inc. lifted its stake in shares of Aviat Networks by 22.2% in the 2nd quarter. First Wilshire Securities Management Inc. now owns 531,398 shares of the communications equipment provider’s stock valued at $12,780,000 after purchasing an additional 96,367 shares during the last quarter. Kennedy Capital Management LLC boosted its holdings in Aviat Networks by 5.8% in the third quarter. Kennedy Capital Management LLC now owns 445,947 shares of the communications equipment provider’s stock worth $10,226,000 after purchasing an additional 24,284 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in Aviat Networks by 0.5% during the third quarter. First Eagle Investment Management LLC now owns 380,356 shares of the communications equipment provider’s stock valued at $8,722,000 after buying an additional 1,807 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC raised its holdings in Aviat Networks by 34.5% during the third quarter. Pacific Ridge Capital Partners LLC now owns 311,254 shares of the communications equipment provider’s stock valued at $7,137,000 after buying an additional 79,774 shares in the last quarter. Hedge funds and other institutional investors own 78.62% of the company’s stock.

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.