Aviat Networks, Inc. (NASDAQ:AVNW) CEO Buys $42,390.00 in Stock

Aviat Networks, Inc. (NASDAQ:AVNW) CEO Pete A. Smith acquired 3,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were purchased at an average price of $14.13 per share, for a total transaction of $42,390.00. Following the purchase, the chief executive officer now directly owns 298,539 shares of the company’s stock, valued at approximately $4,218,356.07. This trade represents a 1.02 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Aviat Networks Stock Performance

AVNW stock opened at $13.91 on Friday. The stock’s 50 day simple moving average is $20.85 and its 200 day simple moving average is $26.33. Aviat Networks, Inc. has a 12-month low of $12.95 and a 12-month high of $38.85. The firm has a market cap of $176.52 million, a P/E ratio of -44.87 and a beta of 1.81. The company has a current ratio of 1.72, a quick ratio of 1.40 and a debt-to-equity ratio of 0.33.

Aviat Networks (NASDAQ:AVNW) last issued its earnings results on Friday, October 4th. The communications equipment provider reported $0.58 earnings per share for the quarter. Aviat Networks had a negative net margin of 0.98% and a positive return on equity of 4.94%. The company had revenue of $116.66 million for the quarter. As a group, equities research analysts predict that Aviat Networks, Inc. will post 0.74 EPS for the current year.

Hedge Funds Weigh In On Aviat Networks

A number of large investors have recently bought and sold shares of AVNW. nVerses Capital LLC bought a new position in shares of Aviat Networks during the second quarter valued at approximately $29,000. NBC Securities Inc. acquired a new position in Aviat Networks during the 3rd quarter valued at approximately $62,000. BNP Paribas Financial Markets grew its stake in Aviat Networks by 84.8% during the 1st quarter. BNP Paribas Financial Markets now owns 5,475 shares of the communications equipment provider’s stock worth $210,000 after buying an additional 2,513 shares during the last quarter. Covestor Ltd increased its position in Aviat Networks by 309.8% in the first quarter. Covestor Ltd now owns 5,934 shares of the communications equipment provider’s stock worth $228,000 after buying an additional 4,486 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Aviat Networks in the third quarter valued at $263,000. Institutional investors own 78.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on AVNW. StockNews.com lowered shares of Aviat Networks from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. B. Riley reduced their target price on Aviat Networks from $55.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Northland Securities dropped their price target on shares of Aviat Networks from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Roth Mkm reduced their price objective on shares of Aviat Networks from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, JMP Securities reissued a “market outperform” rating and set a $50.00 price objective on shares of Aviat Networks in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Aviat Networks currently has an average rating of “Moderate Buy” and an average target price of $38.60.

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.