Gary Croke Sells 629 Shares of Aviat Networks (NASDAQ:AVNW) Stock

Aviat Networks, Inc. (NASDAQ:AVNW) SVP Gary Croke sold 629 shares of Aviat Networks stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $19.69, for a total transaction of $12,385.01. Following the completion of the sale, the senior vice president owned 42,479 shares of the company’s stock, valued at $836,411.51. This trade represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Aviat Networks Stock Performance

NASDAQ:AVNW traded down $1.27 during trading hours on Tuesday, hitting $18.66. 201,916 shares of the company were exchanged, compared to its average volume of 166,667. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.97 and a quick ratio of 1.66. Aviat Networks, Inc. has a 52-week low of $13.92 and a 52-week high of $27.02. The stock has a market capitalization of $238.85 million, a price-to-earnings ratio of 98.21 and a beta of 0.70. The company’s 50 day moving average price is $20.91 and its 200-day moving average price is $21.23.

Aviat Networks (NASDAQ:AVNW) last posted its quarterly earnings results on Thursday, August 27th. The communications equipment provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.09. Aviat Networks had a net margin of 0.58% and a return on equity of 5.85%. The business had revenue of $120.89 million during the quarter, compared to analysts’ expectations of $110.12 million. As a group, research analysts forecast that Aviat Networks, Inc. will post 2.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AVNW shares. B Riley restated a “buy” rating on shares of Aviat Networks in a research note on Friday. Craig Hallum started coverage on Aviat Networks in a report on Tuesday, June 30th. They issued a “buy” rating and a $36.00 price objective on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Aviat Networks in a report on Friday. Roth Capital reiterated a “buy” rating and issued a $38.00 target price (up from $34.00) on shares of Aviat Networks in a research report on Friday. Finally, Citizens Jmp cut their price target on shares of Aviat Networks from $30.00 to $25.00 and set a “market outperform” rating on the stock in a report on Wednesday, May 6th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Aviat Networks currently has an average rating of “Moderate Buy” and a consensus price target of $32.71.

Institutional Investors Weigh In On Aviat Networks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tieton Capital Management LLC purchased a new position in shares of Aviat Networks during the 2nd quarter valued at about $15,017,000. Sei Investments Co. boosted its stake in shares of Aviat Networks by 122.2% in the first quarter. Sei Investments Co. now owns 432,325 shares of the communications equipment provider’s stock worth $9,775,000 after buying an additional 237,761 shares during the last quarter. Western Standard LLC grew its holdings in Aviat Networks by 84.5% during the fourth quarter. Western Standard LLC now owns 494,238 shares of the communications equipment provider’s stock worth $10,567,000 after acquiring an additional 226,332 shares during the period. Marshall Wace LLP grew its holdings in Aviat Networks by 140.2% during the fourth quarter. Marshall Wace LLP now owns 226,580 shares of the communications equipment provider’s stock worth $4,844,000 after acquiring an additional 132,262 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its position in Aviat Networks by 67.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 285,868 shares of the communications equipment provider’s stock valued at $6,555,000 after acquiring an additional 115,298 shares in the last quarter. 78.62% of the stock is owned by institutional investors and hedge funds.

About Aviat Networks

Aviat Networks, Inc is a specialist in wireless transport solutions, designing, manufacturing and selling microwave networking products that enable the secure and reliable transmission of data, voice and video. The company’s offerings address mission-critical communications needs for a broad range of end markets, including telecommunications service providers, utilities, government agencies and enterprises. Its product portfolio spans high-capacity packet microwave radios, IP transport systems and network management software.

Aviat’s core product lines include the WTM series of packet microwave platforms, which deliver scalable throughput and advanced resilience features, and the Eclipse packet microwave systems, which combine broadband capacity with synchronization, security and quality-of-service capabilities.