Analysts Set Aviat Networks, Inc. (NASDAQ:AVNW) PT at $34.50

Aviat Networks, Inc. (NASDAQ:AVNW) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $34.50.

AVNW has been the subject of a number of recent research reports. Wall Street Zen downgraded Aviat Networks from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Lake Street Capital reissued a “buy” rating and issued a $34.00 price objective on shares of Aviat Networks in a report on Wednesday, November 5th. Roth Mkm lowered their price objective on Aviat Networks from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. B. Riley Financial reiterated a “buy” rating and set a $36.00 target price (up from $35.00) on shares of Aviat Networks in a research report on Wednesday, February 4th. Finally, Zacks Research raised shares of Aviat Networks from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd.

Insiders Place Their Bets

In other Aviat Networks news, SVP Gary Croke sold 6,914 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $26.20, for a total transaction of $181,146.80. Following the sale, the senior vice president owned 43,868 shares in the company, valued at $1,149,341.60. This represents a 13.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Pete A. Smith sold 17,086 shares of Aviat Networks stock in a transaction on Monday, February 9th. The shares were sold at an average price of $26.33, for a total value of $449,874.38. Following the completion of the transaction, the chief executive officer owned 358,747 shares of the company’s stock, valued at approximately $9,445,808.51. This trade represents a 4.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On Aviat Networks

A number of institutional investors and hedge funds have recently modified their holdings of AVNW. Comerica Bank boosted its position in shares of Aviat Networks by 40.2% in the first quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock valued at $52,000 after acquiring an additional 780 shares during the period. BNP Paribas Financial Markets lifted its stake in Aviat Networks by 96.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,281 shares of the communications equipment provider’s stock worth $52,000 after purchasing an additional 1,120 shares in the last quarter. Rhumbline Advisers boosted its holdings in Aviat Networks by 6.7% in the 2nd quarter. Rhumbline Advisers now owns 18,341 shares of the communications equipment provider’s stock valued at $441,000 after purchasing an additional 1,148 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Aviat Networks during the 2nd quarter valued at $28,000. Finally, Quarry LP purchased a new position in shares of Aviat Networks during the 3rd quarter valued at $27,000. 78.62% of the stock is owned by hedge funds and other institutional investors.

Aviat Networks Stock Performance

NASDAQ AVNW opened at $26.74 on Monday. The company has a market capitalization of $344.95 million, a PE ratio of 23.88 and a beta of 0.84. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.56 and a current ratio of 1.85. Aviat Networks has a 52-week low of $15.80 and a 52-week high of $27.02. The company has a 50-day simple moving average of $23.22 and a 200 day simple moving average of $22.79.

Aviat Networks (NASDAQ:AVNW) last released its earnings results on Tuesday, February 3rd. The communications equipment provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. The firm had revenue of $111.47 million during the quarter, compared to the consensus estimate of $109.67 million. Aviat Networks had a net margin of 3.27% and a return on equity of 10.71%. On average, research analysts predict that Aviat Networks will post 0.5 EPS for the current year.

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.