Aviat Networks (NASDAQ:AVNW) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Aviat Networks, Inc. (NASDAQ:AVNW) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $22.89 and traded as high as $26.25. Aviat Networks shares last traded at $25.74, with a volume of 98,830 shares.

Analysts Set New Price Targets

A number of analysts recently commented on AVNW shares. Citizens Jmp reiterated a “market outperform” rating and set a $30.00 price objective on shares of Aviat Networks in a research report on Wednesday, February 4th. Wall Street Zen cut Aviat Networks from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. B. Riley Financial restated a “buy” rating and set a $36.00 price target (up from $35.00) on shares of Aviat Networks in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Aviat Networks in a research note on Monday, December 29th. Finally, Roth Mkm dropped their price objective on shares of Aviat Networks from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $34.50.

Aviat Networks Stock Up 1.5%

The company has a market capitalization of $332.05 million, a PE ratio of 22.98 and a beta of 0.84. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.85 and a quick ratio of 1.56. The company has a 50-day moving average of $23.54 and a two-hundred day moving average of $22.89.

Aviat Networks (NASDAQ:AVNW) last issued its quarterly earnings results on Tuesday, February 3rd. The communications equipment provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. Aviat Networks had a return on equity of 10.71% and a net margin of 3.27%.The business had revenue of $111.47 million during the quarter, compared to analysts’ expectations of $109.67 million. Sell-side analysts anticipate that Aviat Networks, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, 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 sale, the senior vice president directly owned 43,868 shares in the company, valued at $1,149,341.60. This trade represents a 13.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Pete A. Smith sold 17,086 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $26.33, for a total transaction of $449,874.38. Following the sale, the chief executive officer owned 358,747 shares in the company, valued at $9,445,808.51. The trade was a 4.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Aviat Networks

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Aviat Networks by 1.2% in the third quarter. Vanguard Group Inc. now owns 700,233 shares of the communications equipment provider’s stock valued at $16,056,000 after acquiring an additional 8,179 shares in the last quarter. Royce & Associates LP boosted its stake in shares of Aviat Networks by 8.5% in the fourth quarter. Royce & Associates LP now owns 648,235 shares of the communications equipment provider’s stock worth $13,859,000 after acquiring an additional 51,000 shares during the period. First Wilshire Securities Management Inc. grew its position in shares of Aviat Networks by 22.2% during the second quarter. First Wilshire Securities Management Inc. now owns 531,398 shares of the communications equipment provider’s stock worth $12,780,000 after purchasing an additional 96,367 shares in the last quarter. Western Standard LLC raised its stake in Aviat Networks by 84.5% during the 4th quarter. Western Standard LLC now owns 494,238 shares of the communications equipment provider’s stock valued at $10,567,000 after purchasing an additional 226,332 shares during the period. Finally, Kennedy Capital Management LLC raised its stake in Aviat Networks by 5.8% during the 3rd quarter. Kennedy Capital Management LLC now owns 445,947 shares of the communications equipment provider’s stock valued at $10,226,000 after purchasing an additional 24,284 shares during the period. Hedge funds and other institutional investors own 78.62% of the company’s stock.

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.