Insider Selling: Aviat Networks (NASDAQ:AVNW) VP Sells $26,522.43 in Stock

Key Points

• Insider sale: Aviat Networks VP Erin Boase sold 1,347 shares at an average price of $19.69, totaling $26,522.43. The transaction reduced her position by 4.55%, leaving her with 28,275 shares.
• Recent performance: Shares fell $1.27 to $18.66, while the company reported quarterly earnings of $0.64 per share and revenue of $120.89 million, exceeding analyst expectations.
• Analyst outlook: Analysts maintain a “Moderate Buy” consensus, with an average price target of $32.71; institutional investors own 78.62% of the company’s stock.

Aviat Networks, Inc. (NASDAQ:AVNW - Get Free Report) VP Erin Boase sold 1,347 shares of Aviat Networks stock in a transaction on Monday, August 31st. The shares were sold at an average price of $19.69, for a total value of $26,522.43. Following the completion of the transaction, the vice president owned 28,275 shares in the company, valued at approximately $556,734.75. The trade was a 4.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Aviat Networks Price Performance

Shares of Aviat Networks stock traded down $1.27 during trading on Tuesday, reaching $18.66. 201,916 shares of the company's stock were exchanged, compared to its average volume of 166,667. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.66 and a current ratio of 1.97. Aviat Networks, Inc. has a 1-year low of $13.92 and a 1-year high of $27.02. The company has a market cap of $238.85 million, a P/E ratio of 98.21 and a beta of 0.70. The firm's 50-day moving average price is $20.91 and its 200 day moving average price is $21.23.

Aviat Networks (NASDAQ:AVNW - Get Free Report) last released its quarterly earnings data on Thursday, August 27th. The communications equipment provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.09. Aviat Networks had a return on equity of 5.85% and a net margin of 0.58%.The business had revenue of $120.89 million for the quarter, compared to analyst estimates of $110.12 million. As a group, research analysts anticipate that Aviat Networks, Inc. will post 2.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Craig Hallum initiated coverage on shares of Aviat Networks in a report on Tuesday, June 30th. They set a "buy" rating and a $36.00 price target on the stock. Citizens Jmp dropped their price objective on shares of Aviat Networks from $30.00 to $25.00 and set a "market outperform" rating for the company in a research note on Wednesday, May 6th. B Riley restated a "buy" rating on shares of Aviat Networks in a research report on Friday. Citigroup reaffirmed a "market outperform" rating on shares of Aviat Networks in a research note on Friday. Finally, Rafferty Capital Markets initiated coverage on shares of Aviat Networks in a report on Tuesday, June 30th. They set a "buy" rating and a $36.00 price target for the company. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $32.71.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Aviat Networks in the 2nd quarter valued at approximately $28,000. Quarry LP bought a new stake in Aviat Networks during the 3rd quarter worth approximately $27,000. Potomac Capital Management Inc. bought a new stake in Aviat Networks during the 4th quarter worth approximately $43,000. BNP Paribas Financial Markets increased its position in Aviat Networks by 96.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,281 shares of the communications equipment provider's stock valued at $52,000 after acquiring an additional 1,120 shares during the period. Finally, Fifth Third Bancorp acquired a new position in Aviat Networks in the 1st quarter valued at approximately $53,000. Institutional investors and hedge funds own 78.62% of the company's stock.

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.

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