Laxmi Akkaraju Acquires 900 Shares of Aviat Networks, Inc. (NASDAQ:AVNW) Stock

Aviat Networks, Inc. (NASDAQ:AVNW) Director Laxmi Akkaraju acquired 900 shares of Aviat Networks stock in a transaction on Wednesday, November 27th. The shares were purchased at an average cost of $15.85 per share, with a total value of $14,265.00. Following the completion of the purchase, the director now directly owns 13,285 shares of the company’s stock, valued at approximately $210,567.25. This represents a 7.27 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Aviat Networks Trading Up 5.3 %

Aviat Networks stock opened at $16.79 on Wednesday. Aviat Networks, Inc. has a 12 month low of $12.95 and a 12 month high of $38.85. The company has a quick ratio of 1.40, a current ratio of 1.72 and a debt-to-equity ratio of 0.33. The stock has a market cap of $213.07 million, a P/E ratio of -54.16 and a beta of 1.72. The company’s fifty day simple moving average is $19.00 and its 200-day simple moving average is $24.88.

Aviat Networks (NASDAQ:AVNW) last released its quarterly earnings data on Friday, October 4th. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter. Aviat Networks had a positive return on equity of 4.94% and a negative net margin of 0.98%. The firm had revenue of $116.66 million during the quarter. As a group, sell-side analysts forecast that Aviat Networks, Inc. will post 1.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. B. Riley cut their price target on shares of Aviat Networks from $55.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Roth Mkm cut their target price on shares of Aviat Networks from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. StockNews.com lowered Aviat Networks from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Northland Securities lowered their price target on Aviat Networks from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Finally, Lake Street Capital reduced their price objective on Aviat Networks from $45.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.60.

Institutional Investors Weigh In On Aviat Networks

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Aviat Networks by 2.2% during the first quarter. Vanguard Group Inc. now owns 552,071 shares of the communications equipment provider’s stock valued at $21,166,000 after acquiring an additional 11,662 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Aviat Networks by 7.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 47,905 shares of the communications equipment provider’s stock worth $1,374,000 after purchasing an additional 3,401 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Aviat Networks during the 2nd quarter valued at $29,000. Rhumbline Advisers lifted its stake in shares of Aviat Networks by 2.9% in the 2nd quarter. Rhumbline Advisers now owns 18,716 shares of the communications equipment provider’s stock valued at $537,000 after purchasing an additional 523 shares during the last quarter. Finally, Hodges Capital Management Inc. lifted its stake in shares of Aviat Networks by 80.8% in the 2nd quarter. Hodges Capital Management Inc. now owns 365,535 shares of the communications equipment provider’s stock valued at $10,487,000 after purchasing an additional 163,365 shares during the last quarter. Institutional investors own 78.62% of the company’s stock.

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.