Aviat Networks (NASDAQ:AVNW) Price Target Cut to $59.00

Aviat Networks (NASDAQ:AVNWGet Free Report) had its price objective cut by equities researchers at B. Riley from $60.00 to $59.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the communications equipment provider’s stock. B. Riley’s price target indicates a potential upside of 78.25% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on AVNW. StockNews.com cut Aviat Networks from a “buy” rating to a “hold” rating in a report on Saturday, January 20th. JMP Securities reaffirmed a “market outperform” rating and set a $50.00 price target on shares of Aviat Networks in a report on Monday. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $54.75.

View Our Latest Research Report on AVNW

Aviat Networks Price Performance

Aviat Networks stock opened at $33.10 on Wednesday. The company has a market capitalization of $387.93 million, a PE ratio of 26.06 and a beta of 1.70. Aviat Networks has a one year low of $21.15 and a one year high of $37.84. The business has a 50 day simple moving average of $31.65 and a 200 day simple moving average of $30.76.

Institutional Investors Weigh In On Aviat Networks

Hedge funds and other institutional investors have recently made changes to their positions in the company. Paradigm Capital Management Inc. NY grew its stake in shares of Aviat Networks by 16.8% during the third quarter. Paradigm Capital Management Inc. NY now owns 877,812 shares of the communications equipment provider’s stock worth $27,388,000 after purchasing an additional 126,101 shares during the period. Royce & Associates LP grew its stake in shares of Aviat Networks by 8.7% during the second quarter. Royce & Associates LP now owns 606,470 shares of the communications equipment provider’s stock worth $20,238,000 after purchasing an additional 48,692 shares during the period. BlackRock Inc. grew its stake in shares of Aviat Networks by 2.2% during the second quarter. BlackRock Inc. now owns 532,119 shares of the communications equipment provider’s stock worth $17,757,000 after purchasing an additional 11,667 shares during the period. Vanguard Group Inc. grew its stake in shares of Aviat Networks by 1.9% during the third quarter. Vanguard Group Inc. now owns 514,299 shares of the communications equipment provider’s stock worth $16,046,000 after purchasing an additional 9,654 shares during the period. Finally, Punch & Associates Investment Management Inc. grew its stake in shares of Aviat Networks by 3.1% during the first quarter. Punch & Associates Investment Management Inc. now owns 497,533 shares of the communications equipment provider’s stock worth $17,145,000 after purchasing an additional 14,770 shares during the period. 76.55% of the stock is owned by institutional investors and hedge funds.

Aviat Networks Company Profile

(Get Free Report)

Aviat Networks, Inc provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific. The company offers outdoor, indoor, and split-mount radios; microwave routers, switches, and trunking; and private LTE, virtual fiber, and element management products; and hosted software products, such as aviat design, frequency assurance software, and health assurance software.

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