Aviat Networks (NASDAQ:AVNW) Cut to Hold at StockNews.com

Aviat Networks (NASDAQ:AVNW - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Tuesday.

AVNW has been the subject of several other reports. B. Riley reduced their price target on Aviat Networks from $59.00 to $55.00 and set a "buy" rating for the company in a research report on Thursday, May 2nd. JMP Securities reissued a "market outperform" rating and set a $50.00 price target on shares of Aviat Networks in a research report on Monday, February 5th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $53.75.

Aviat Networks Stock Up 0.4 %

Shares of NASDAQ:AVNW traded up $0.13 during mid-day trading on Tuesday, reaching $31.15. 66,845 shares of the stock were exchanged, compared to its average volume of 112,931. The company has a quick ratio of 1.79, a current ratio of 2.12 and a debt-to-equity ratio of 0.18. The company has a market cap of $391.24 million, a P/E ratio of 27.57 and a beta of 1.78. Aviat Networks has a one year low of $25.08 and a one year high of $38.85. The stock's 50 day simple moving average is $34.37 and its 200-day simple moving average is $32.67.

Aviat Networks (NASDAQ:AVNW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.59 by ($0.01). The firm had revenue of $111.61 million for the quarter, compared to the consensus estimate of $113.56 million. Aviat Networks had a return on equity of 14.54% and a net margin of 3.54%. During the same quarter in the previous year, the business posted $0.61 earnings per share. As a group, equities research analysts predict that Aviat Networks will post 2.96 EPS for the current year.

Insider Activity

In other Aviat Networks news, CEO Pete A. Smith acquired 1,000 shares of the business's stock in a transaction dated Monday, May 6th. The stock was bought at an average cost of $30.70 per share, with a total value of $30,700.00. Following the completion of the transaction, the chief executive officer now directly owns 242,199 shares in the company, valued at approximately $7,435,509.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 5.70% of the company's stock.

Institutional Trading of Aviat Networks

A number of hedge funds have recently made changes to their positions in the business. First Dallas Securities Inc. acquired a new stake in Aviat Networks during the 3rd quarter worth approximately $1,070,000. Bailard Inc. acquired a new stake in Aviat Networks during the 4th quarter worth approximately $255,000. First Eagle Investment Management LLC lifted its holdings in Aviat Networks by 9.3% during the 3rd quarter. First Eagle Investment Management LLC now owns 199,160 shares of the communications equipment provider's stock worth $6,214,000 after purchasing an additional 16,875 shares during the last quarter. B. Riley Asset Management LLC lifted its holdings in Aviat Networks by 48.9% during the 3rd quarter. B. Riley Asset Management LLC now owns 156,278 shares of the communications equipment provider's stock worth $4,876,000 after purchasing an additional 51,289 shares during the last quarter. Finally, SG Capital Management LLC acquired a new stake in Aviat Networks during the 3rd quarter worth approximately $2,140,000. 78.62% of the stock is owned by institutional investors and hedge funds.

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.

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