Pete A. Smith Buys 1,000 Shares of Aviat Networks, Inc. (NASDAQ:AVNW) Stock

Aviat Networks, Inc. (NASDAQ:AVNW) CEO Pete A. Smith purchased 1,000 shares of Aviat Networks stock in a transaction dated Monday, May 6th. The stock was bought at an average cost of $30.70 per share, with a total value of $30,700.00. Following the completion of the transaction, the chief executive officer now owns 242,199 shares in the company, valued at approximately $7,435,509.30. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Aviat Networks Price Performance

Shares of NASDAQ AVNW opened at $31.26 on Thursday. Aviat Networks, Inc. has a 52 week low of $25.08 and a 52 week high of $38.85. The business’s 50 day moving average price is $34.67 and its 200 day moving average price is $32.46. The company has a quick ratio of 1.79, a current ratio of 2.12 and a debt-to-equity ratio of 0.18. The firm has a market cap of $392.63 million, a P/E ratio of 27.66 and a beta of 1.78.

Aviat Networks (NASDAQ:AVNW) last released its quarterly earnings data on Wednesday, May 1st. The communications equipment provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The business had revenue of $111.61 million during the quarter, compared to analyst estimates of $113.56 million. Aviat Networks had a return on equity of 14.54% and a net margin of 3.54%. During the same quarter in the previous year, the company earned $0.61 EPS. On average, sell-side analysts expect that Aviat Networks, Inc. will post 3.01 earnings per share for the current year.

Hedge Funds Weigh In On Aviat Networks

Several institutional investors and hedge funds have recently modified their holdings of the stock. Paradigm Capital Management Inc. NY grew its holdings in 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 acquiring an additional 126,101 shares during the period. LSV Asset Management boosted its position in Aviat Networks by 12.8% in the 3rd quarter. LSV Asset Management now owns 367,691 shares of the communications equipment provider’s stock worth $11,472,000 after purchasing an additional 41,850 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Aviat Networks by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 267,334 shares of the communications equipment provider’s stock worth $8,341,000 after purchasing an additional 2,967 shares during the period. First Eagle Investment Management LLC grew its stake in shares of Aviat Networks by 9.3% during the 3rd quarter. First Eagle Investment Management LLC now owns 199,160 shares of the communications equipment provider’s stock worth $6,214,000 after purchasing an additional 16,875 shares during the period. Finally, B. Riley Asset Management LLC increased its holdings in shares of Aviat Networks by 48.9% during the 3rd quarter. B. Riley Asset Management LLC now owns 156,278 shares of the communications equipment provider’s stock valued at $4,876,000 after purchasing an additional 51,289 shares in the last quarter. Institutional investors and hedge funds own 78.62% of the company’s stock.

Wall Street Analyst Weigh In

AVNW has been the topic of a number of recent analyst reports. StockNews.com raised Aviat Networks from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. JMP Securities reissued a “market outperform” rating and issued a $50.00 price target on shares of Aviat Networks in a report on Monday, February 5th. Finally, B. Riley dropped their price target on Aviat Networks from $59.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Aviat Networks presently has an average rating of “Buy” and an average target price of $53.75.

Aviat Networks Company Profile

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.