Aviat Networks (NASDAQ:AVNW) Given New $30.00 Price Target at Northland Securities

Aviat Networks (NASDAQ:AVNW) had its price target increased by equities researchers at Northland Securities from $25.00 to $30.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the communications equipment provider’s stock. Northland Securities’ target price points to a potential upside of 33.78% from the company’s current price.

Several other analysts also recently issued reports on the stock. Craig Hallum began coverage on shares of Aviat Networks in a report on Tuesday. They set a “buy” rating and a $36.00 price objective for the company. Weiss Ratings downgraded shares of Aviat Networks from a “hold (c)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Zacks Research cut shares of Aviat Networks from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Citigroup raised Aviat Networks to an “outperform” rating in a research report on Monday, June 15th. Finally, Lake Street Capital set a $31.00 price objective on Aviat Networks and gave the stock a “buy” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Sell 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 $33.14.

Aviat Networks Stock Down 0.2%

Shares of AVNW traded down $0.04 during trading hours on Thursday, hitting $22.43. 2,584 shares of the company were exchanged, compared to its average volume of 171,577. The company has a market cap of $290.18 million, a PE ratio of 32.50 and a beta of 0.70. The firm’s 50 day moving average is $18.96 and its 200-day moving average is $21.63. Aviat Networks has a 52 week low of $13.92 and a 52 week high of $27.02. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.67 and a current ratio of 1.99.

Aviat Networks (NASDAQ:AVNW) last issued its quarterly earnings data on Monday, May 4th. The communications equipment provider reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.36). The company had revenue of $100.00 million during the quarter, compared to the consensus estimate of $106.39 million. Aviat Networks had a net margin of 2.08% and a return on equity of 6.89%. On average, equities research analysts forecast that Aviat Networks will post 1.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Aviat Networks

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. grew its position in Aviat Networks by 122.2% in the first quarter. Sei Investments Co. now owns 432,325 shares of the communications equipment provider’s stock valued at $9,775,000 after acquiring an additional 237,761 shares during the period. Western Standard LLC boosted its stake in shares of Aviat Networks by 84.5% in the 4th quarter. Western Standard LLC now owns 494,238 shares of the communications equipment provider’s stock valued at $10,567,000 after purchasing an additional 226,332 shares in the last quarter. Weber Capital Management LLC ADV acquired a new stake in shares of Aviat Networks in the 4th quarter valued at $3,099,000. Marshall Wace LLP grew its holdings in shares of Aviat Networks by 140.2% in the 4th quarter. Marshall Wace LLP now owns 226,580 shares of the communications equipment provider’s stock worth $4,844,000 after purchasing an additional 132,262 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its position in shares of Aviat Networks by 67.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 285,868 shares of the communications equipment provider’s stock worth $6,555,000 after purchasing an additional 115,298 shares in the last quarter. Institutional investors own 78.62% of the company’s stock.

Aviat Networks Company Profile

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.