Aviat Networks (NASDAQ:AVNW) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Aviat Networks (NASDAQ:AVNW – Get Rating) in a research report sent to investors on Thursday. The firm issued a hold rating on the communications equipment provider’s stock.

AVNW has been the topic of several other reports. B. Riley increased their price target on shares of Aviat Networks from $57.00 to $58.00 and gave the company a buy rating in a report on Thursday, February 2nd. JMP Securities reaffirmed a market outperform rating and set a $50.00 target price on shares of Aviat Networks in a report on Monday, March 13th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $57.67.

Aviat Networks Stock Up 1.3 %

Aviat Networks stock opened at $31.07 on Thursday. The stock has a market cap of $355.44 million, a P/E ratio of 29.31 and a beta of 1.65. Aviat Networks has a twelve month low of $21.15 and a twelve month high of $39.80. The company’s 50-day moving average price is $32.66 and its two-hundred day moving average price is $32.54.

Insider Buying and Selling

In other news, CEO Pete A. Smith purchased 1,000 shares of Aviat Networks stock in a transaction that occurred on Friday, May 12th. The shares were acquired at an average price of $29.83 per share, for a total transaction of $29,830.00. Following the transaction, the chief executive officer now owns 192,918 shares of the company’s stock, valued at approximately $5,754,743.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of Aviat Networks

A number of hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in Aviat Networks by 13.0% in the first quarter. JPMorgan Chase & Co. now owns 195,891 shares of the communications equipment provider’s stock valued at $6,750,000 after buying an additional 22,582 shares in the last quarter. State Street Corp lifted its holdings in shares of Aviat Networks by 2.6% during the first quarter. State Street Corp now owns 288,174 shares of the communications equipment provider’s stock worth $9,930,000 after purchasing an additional 7,257 shares during the period. Select Equity Group L.P. lifted its holdings in shares of Aviat Networks by 1.1% during the first quarter. Select Equity Group L.P. now owns 387,898 shares of the communications equipment provider’s stock worth $13,367,000 after purchasing an additional 4,074 shares during the period. First Trust Advisors LP lifted its holdings in shares of Aviat Networks by 9.0% during the first quarter. First Trust Advisors LP now owns 28,822 shares of the communications equipment provider’s stock worth $993,000 after purchasing an additional 2,374 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Aviat Networks by 4.1% during the first quarter. Geode Capital Management LLC now owns 211,839 shares of the communications equipment provider’s stock worth $7,300,000 after purchasing an additional 8,437 shares during the period. Institutional investors and hedge funds own 68.93% of the company’s stock.

Aviat Networks Company Profile

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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.