Aviat Networks (NASDAQ:AVNW) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Aviat Networks shares crossed above their 200‑day moving average of $23.09, trading as high as $26.24 and last at $24.89 on a volume of 110,007 shares, suggesting potential upward momentum.
• Wall Street sentiment is a consensus "Moderate Buy" (four Buy, two Hold) with an average price target of $34.50.
• The company recently beat quarterly estimates with $0.54 EPS vs. $0.48 expected and $111.47M revenue vs. $109.67M, while insiders — including the CEO — have sold shares, leaving insiders owning 5.3% of the stock.

Aviat Networks, Inc. (NASDAQ:AVNW - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $23.09 and traded as high as $26.24. Aviat Networks shares last traded at $24.89, with a volume of 110,007 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AVNW shares. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Aviat Networks in a research report on Monday, December 29th. Wall Street Zen raised shares of Aviat Networks from a "hold" rating to a "buy" rating in a research note on Saturday, March 14th. Roth Mkm dropped their price objective on Aviat Networks from $41.00 to $38.00 and set a "buy" rating for the company in a report on Wednesday, February 4th. Citizens Jmp reaffirmed a "market outperform" rating and issued a $30.00 target price on shares of Aviat Networks in a research report on Wednesday, February 4th. Finally, B. Riley Financial reiterated a "buy" rating and issued a $36.00 target price (up from $35.00) on shares of Aviat Networks in a report on Wednesday, February 4th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $34.50.

Aviat Networks Trading Down 2.8%

The firm has a market cap of $321.08 million, a price-to-earnings ratio of 22.22 and a beta of 0.84. The company has a quick ratio of 1.56, a current ratio of 1.85 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average price of $24.33 and a 200-day moving average price of $23.09.

Aviat Networks (NASDAQ:AVNW - Get Free Report) last released its quarterly earnings results on Tuesday, February 3rd. The communications equipment provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. The firm had revenue of $111.47 million for the quarter, compared to analyst estimates of $109.67 million. Aviat Networks had a return on equity of 10.71% and a net margin of 3.27%. As a group, research analysts expect that Aviat Networks, Inc. will post 0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Pete A. Smith sold 17,086 shares of the business's stock in a transaction on Monday, February 9th. The shares were sold at an average price of $26.33, for a total transaction of $449,874.38. Following the transaction, the chief executive officer directly owned 358,747 shares of the company's stock, valued at approximately $9,445,808.51. The trade was a 4.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Gary Croke sold 6,914 shares of the company's stock in a transaction on Friday, February 6th. The shares were sold at an average price of $26.20, for a total transaction of $181,146.80. Following the completion of the transaction, the senior vice president owned 43,868 shares of the company's stock, valued at $1,149,341.60. This trade represents a 13.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.30% of the company's stock.

Institutional Trading of Aviat Networks

Several large investors have recently modified their holdings of the business. Comerica Bank lifted its stake in shares of Aviat Networks by 40.2% in the first quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider's stock worth $52,000 after acquiring an additional 780 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Aviat Networks by 96.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,281 shares of the communications equipment provider's stock valued at $52,000 after purchasing an additional 1,120 shares in the last quarter. Rhumbline Advisers grew its stake in Aviat Networks by 6.7% during the 2nd quarter. Rhumbline Advisers now owns 18,341 shares of the communications equipment provider's stock valued at $441,000 after purchasing an additional 1,148 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Aviat Networks during the 2nd quarter worth approximately $28,000. Finally, Quarry LP acquired a new position in shares of Aviat Networks in the 3rd quarter valued at approximately $27,000. 78.62% of the stock is currently owned by institutional investors and hedge funds.

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.

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