Michael Connaway Purchases 3,500 Shares of Aviat Networks, Inc. (NASDAQ:AVNW) Stock

Aviat Networks, Inc. (NASDAQ:AVNW) CFO Michael Connaway purchased 3,500 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were purchased at an average cost of $14.13 per share, with a total value of $49,455.00. Following the completion of the acquisition, the chief financial officer now directly owns 57,893 shares of the company’s stock, valued at $818,028.09. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Aviat Networks Trading Up 4.3 %

Shares of AVNW stock opened at $14.60 on Thursday. Aviat Networks, Inc. has a 52-week low of $12.95 and a 52-week high of $38.85. The company has a market capitalization of $185.27 million, a price-to-earnings ratio of -47.10 and a beta of 1.81. The company has a 50-day simple moving average of $21.09 and a two-hundred day simple moving average of $26.42. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.40 and a current ratio of 1.72.

Aviat Networks (NASDAQ:AVNW) last released its quarterly earnings data on Friday, October 4th. The communications equipment provider reported $0.58 EPS 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 during the quarter. Research analysts anticipate that Aviat Networks, Inc. will post 0.74 EPS for the current fiscal year.

Institutional Trading of Aviat Networks

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its position in shares of Aviat Networks by 635.0% during the third quarter. BNP Paribas Financial Markets now owns 14,244 shares of the communications equipment provider’s stock valued at $308,000 after purchasing an additional 12,306 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Aviat Networks in the 3rd quarter worth $263,000. Tieton Capital Management LLC purchased a new position in shares of Aviat Networks during the third quarter worth $1,281,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Aviat Networks during the third quarter valued at approximately $598,000. Finally, Royce & Associates LP lifted its holdings in Aviat Networks by 8.5% during the third quarter. Royce & Associates LP now owns 696,394 shares of the communications equipment provider’s stock valued at $15,063,000 after purchasing an additional 54,339 shares in the last quarter. Hedge funds and other institutional investors own 78.62% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AVNW. B. Riley cut their target price on shares of Aviat Networks from $55.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Lake Street Capital dropped their target price on Aviat Networks from $45.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. StockNews.com lowered Aviat Networks from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Roth Mkm decreased their target price on Aviat Networks from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, JMP Securities reissued a “market outperform” rating and issued a $50.00 price target on shares of Aviat Networks in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.60.

About Aviat Networks

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.