Insider Buying: Aviat Networks, Inc. (NASDAQ:AVNW) CFO Acquires 3,500 Shares of Stock

Aviat Networks, Inc. (NASDAQ:AVNW) CFO Michael Connaway acquired 3,500 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was bought at an average cost of $14.13 per share, with a total value of $49,455.00. Following the acquisition, the chief financial officer now owns 57,893 shares in the company, valued at approximately $818,028.09. This trade represents a 6.43 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Aviat Networks Price Performance

Shares of NASDAQ AVNW opened at $13.91 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.40 and a current ratio of 1.72. The firm has a fifty day moving average of $20.85 and a 200 day moving average of $26.33. The firm has a market cap of $176.52 million, a PE ratio of -44.87 and a beta of 1.81. Aviat Networks, Inc. has a one year low of $12.95 and a one year high of $38.85.

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

Institutional Trading of Aviat Networks

Large investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new position in Aviat Networks in the 3rd quarter worth approximately $589,000. Select Equity Group L.P. lifted its position in Aviat Networks by 8.7% during the second quarter. Select Equity Group L.P. now owns 380,184 shares of the communications equipment provider’s stock worth $10,907,000 after buying an additional 30,582 shares in the last quarter. Vanguard Group Inc. boosted its stake in Aviat Networks by 2.2% during the first quarter. Vanguard Group Inc. now owns 552,071 shares of the communications equipment provider’s stock worth $21,166,000 after buying an additional 11,662 shares during the last quarter. Hodges Capital Management Inc. grew its holdings in Aviat Networks by 80.8% in the 2nd quarter. Hodges Capital Management Inc. now owns 365,535 shares of the communications equipment provider’s stock valued at $10,487,000 after buying an additional 163,365 shares in the last quarter. Finally, Private Advisor Group LLC increased its stake in shares of Aviat Networks by 45.4% in the 1st quarter. Private Advisor Group LLC now owns 12,832 shares of the communications equipment provider’s stock worth $492,000 after acquiring an additional 4,009 shares during the last quarter. 78.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AVNW has been the subject of several recent research reports. B. Riley reduced their price target on Aviat Networks from $55.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Northland Securities cut their target price on shares of Aviat Networks from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Roth Mkm lowered their price target on shares of Aviat Networks from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Lake Street Capital cut their price objective on shares of Aviat Networks from $45.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $50.00 price objective on shares of Aviat Networks in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.