Aviat Networks (NASDAQ:AVNW) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Aviat Networks, Inc. (NASDAQ:AVNW)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $23.09 and traded as high as $26.24. Aviat Networks shares last traded at $24.89, with a volume of 110,007 shares changing hands.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Roth Mkm dropped their price target on shares of Aviat Networks from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. Citizens Jmp reiterated a “market outperform” rating and set a $30.00 price objective on shares of Aviat Networks in a research note on Wednesday, February 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of Aviat Networks in a report on Monday, December 29th. B. Riley Financial reissued a “buy” rating and issued a $36.00 target price (up from $35.00) on shares of Aviat Networks in a research report on Wednesday, February 4th. Finally, Wall Street Zen raised shares of Aviat Networks from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.50.

Aviat Networks Trading Down 2.8%

The company has a quick ratio of 1.56, a current ratio of 1.85 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average is $24.33 and its two-hundred day moving average is $23.09. The stock has a market cap of $321.08 million, a price-to-earnings ratio of 22.22 and a beta of 0.84.

Aviat Networks (NASDAQ:AVNW) last issued its earnings results on Tuesday, February 3rd. The communications equipment provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. The company had revenue of $111.47 million during the quarter, compared to the consensus estimate of $109.67 million. Aviat Networks had a return on equity of 10.71% and a net margin of 3.27%. Equities analysts anticipate that Aviat Networks, Inc. will post 0.5 EPS for the current year.

Insider Buying and Selling

In other Aviat Networks news, SVP Gary Croke sold 6,914 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $26.20, for a total value of $181,146.80. Following the sale, the senior vice president directly owned 43,868 shares of the company’s stock, valued at $1,149,341.60. This trade represents a 13.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Pete A. Smith sold 17,086 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $26.33, for a total value of $449,874.38. Following the completion of the sale, the chief executive officer owned 358,747 shares in the company, valued at $9,445,808.51. The trade was a 4.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 5.30% of the company’s stock.

Institutional Trading of Aviat Networks

Large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Aviat Networks by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 700,233 shares of the communications equipment provider’s stock valued at $16,056,000 after purchasing an additional 8,179 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Aviat Networks by 8.5% during the fourth quarter. Royce & Associates LP now owns 648,235 shares of the communications equipment provider’s stock valued at $13,859,000 after buying an additional 51,000 shares during the last quarter. First Wilshire Securities Management Inc. raised its holdings in shares of Aviat Networks by 22.2% during the second quarter. First Wilshire Securities Management Inc. now owns 531,398 shares of the communications equipment provider’s stock valued at $12,780,000 after buying an additional 96,367 shares during the last quarter. Western Standard LLC grew its holdings in Aviat Networks by 84.5% in the 4th quarter. Western Standard LLC now owns 494,238 shares of the communications equipment provider’s stock worth $10,567,000 after buying an additional 226,332 shares in the last quarter. Finally, Kennedy Capital Management LLC increased its holdings in shares of Aviat Networks by 5.8% during the third quarter. Kennedy Capital Management LLC now owns 445,947 shares of the communications equipment provider’s stock valued at $10,226,000 after purchasing an additional 24,284 shares during the period. 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.