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

Aviat Networks, Inc. (NASDAQ:AVNW) Director Laxmi Akkaraju acquired 900 shares of the stock in a transaction on Wednesday, November 27th. The shares were purchased at an average price of $15.85 per share, for a total transaction of $14,265.00. Following the transaction, the director now directly owns 13,285 shares in the company, valued at approximately $210,567.25. This trade represents a 7.27 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Aviat Networks Stock Performance

Shares of NASDAQ:AVNW traded up $0.12 during midday trading on Monday, reaching $15.95. The company had a trading volume of 137,743 shares, compared to its average volume of 127,106. The company’s 50 day moving average price is $19.14 and its 200 day moving average price is $24.99. Aviat Networks, Inc. has a 52-week low of $12.95 and a 52-week high of $38.85. The stock has a market cap of $202.41 million, a P/E ratio of -51.06 and a beta of 1.81. The company has a current ratio of 1.72, a quick ratio of 1.40 and a debt-to-equity ratio of 0.33.

Aviat Networks (NASDAQ:AVNW) last posted its earnings results 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 for the quarter. As a group, sell-side analysts anticipate that Aviat Networks, Inc. will post 1.13 EPS for the current fiscal year.

Institutional Trading of Aviat Networks

Several institutional investors and hedge funds have recently bought and sold shares of AVNW. Hodges Capital Management Inc. boosted its stake in Aviat Networks by 80.8% during the second quarter. Hodges Capital Management Inc. now owns 365,535 shares of the communications equipment provider’s stock valued at $10,487,000 after buying an additional 163,365 shares during the period. Tieton Capital Management LLC purchased a new stake in Aviat Networks in the third quarter valued at approximately $1,281,000. Royce & Associates LP increased its holdings in shares of Aviat Networks by 8.5% in the 3rd quarter. Royce & Associates LP now owns 696,394 shares of the communications equipment provider’s stock worth $15,063,000 after buying an additional 54,339 shares during the last quarter. Select Equity Group L.P. raised its position in shares of Aviat Networks by 8.7% during the 2nd quarter. Select Equity Group L.P. now owns 380,184 shares of the communications equipment provider’s stock valued at $10,907,000 after buying an additional 30,582 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Aviat Networks during the 3rd quarter worth $598,000. 78.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Roth Mkm reduced their price target 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. JMP Securities reaffirmed a “market outperform” rating and set a $50.00 target price on shares of Aviat Networks in a research report on Tuesday, October 8th. B. Riley decreased their target price on shares of Aviat Networks from $55.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, September 13th. StockNews.com downgraded shares of Aviat Networks from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Finally, Lake Street Capital cut their price objective on shares of Aviat Networks from $45.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Aviat Networks presently has a consensus rating of “Moderate Buy” and an average target price of $38.60.

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.