Wall Street Zen Upgrades Aviat Networks (NASDAQ:AVNW) to Buy

Key Points

• Wall Street Zen upgraded Aviat Networks (NASDAQ:AVNW) from a "hold" rating to a "buy" rating, marking a significant shift in analyst sentiment.
• Aviat Networks stock is currently trading at $23.91, with a 52-week high of $26.83 and a low of $12.95, indicating notable volatility in its pricing.
• Insider transactions revealed significant selling activity, with SVP Gary Croke and VP Erin Boase reducing their stakes in the company by 12.99% and 20.18%, respectively.

Aviat Networks (NASDAQ:AVNW - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

Aviat Networks Price Performance

NASDAQ:AVNW traded up $0.73 during mid-day trading on Friday, reaching $24.21. 131,242 shares of the company were exchanged, compared to its average volume of 123,244. The stock has a market cap of $308.19 million, a PE ratio of 302.66 and a beta of 1.59. The company has a quick ratio of 1.35, a current ratio of 1.64 and a debt-to-equity ratio of 0.26. Aviat Networks has a 12 month low of $12.95 and a 12 month high of $26.83. The company has a fifty day moving average of $22.75 and a 200 day moving average of $21.17.

Insider Activity

In related news, SVP Gary Croke sold 6,742 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $22.41, for a total value of $151,088.22. Following the sale, the senior vice president directly owned 45,159 shares in the company, valued at $1,012,013.19. This trade represents a 12.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Erin Boase sold 5,634 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $25.00, for a total transaction of $140,850.00. Following the completion of the sale, the vice president owned 22,290 shares in the company, valued at $557,250. This represents a 20.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,343 shares of company stock worth $406,913 in the last ninety days. Insiders own 4.10% of the company's stock.

Institutional Trading of Aviat Networks

A number of hedge funds have recently modified their holdings of the company. Royce & Associates LP raised its position in shares of Aviat Networks by 5.5% in the 1st quarter. Royce & Associates LP now owns 680,459 shares of the communications equipment provider's stock valued at $13,044,000 after acquiring an additional 35,580 shares during the period. First Wilshire Securities Management Inc. raised its position in shares of Aviat Networks by 22.2% in the 2nd quarter. First Wilshire Securities Management Inc. now owns 531,398 shares of the communications equipment provider's stock valued at $12,780,000 after acquiring an additional 96,367 shares during the period. Kennedy Capital Management LLC raised its position in shares of Aviat Networks by 29.4% in the 2nd quarter. Kennedy Capital Management LLC now owns 421,663 shares of the communications equipment provider's stock valued at $10,141,000 after acquiring an additional 95,884 shares during the period. First Eagle Investment Management LLC raised its position in shares of Aviat Networks by 15.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 378,549 shares of the communications equipment provider's stock valued at $9,104,000 after acquiring an additional 49,642 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Aviat Networks in the 1st quarter valued at approximately $3,783,000. 78.62% of the stock is currently owned by institutional investors and hedge funds.

Aviat Networks Company Profile

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.