Aviat Networks, Inc. (NASDAQ:AVNW – Get Rating) – Equities research analysts at Northland Capmk lowered their FY2023 earnings per share (EPS) estimates for shares of Aviat Networks in a research note issued to investors on Friday, May 26th. Northland Capmk analyst T. Savageaux now anticipates that the communications equipment provider will post earnings per share of $2.90 for the year, down from their prior forecast of $2.95. The consensus estimate for Aviat Networks’ current full-year earnings is $2.83 per share.
A number of other research analysts also recently issued reports on the company. JMP Securities restated a “market outperform” rating and set a $50.00 price target on shares of Aviat Networks in a research note on Monday, March 13th. B. Riley boosted their target price on Aviat Networks from $57.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 2nd. Finally, StockNews.com began coverage on Aviat Networks in a report on Thursday, May 18th. They set a “hold” rating on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $57.67.
Aviat Networks Stock Performance
Shares of NASDAQ AVNW opened at $31.15 on Monday. Aviat Networks has a fifty-two week low of $21.15 and a fifty-two week high of $39.80. The firm has a market capitalization of $356.36 million, a PE ratio of 29.39 and a beta of 1.65. The stock’s 50-day simple moving average is $32.32 and its 200-day simple moving average is $32.61.
Institutional Investors Weigh In On Aviat Networks
A number of hedge funds have recently bought and sold shares of AVNW. Ameriprise Financial Inc. lifted its holdings in shares of Aviat Networks by 4.1% in the 1st quarter. Ameriprise Financial Inc. now owns 8,375 shares of the communications equipment provider’s stock worth $289,000 after purchasing an additional 327 shares during the last quarter. JPMorgan Chase & Co. increased its position in Aviat Networks by 13.0% in the 1st quarter. JPMorgan Chase & Co. now owns 195,891 shares of the communications equipment provider’s stock valued at $6,750,000 after acquiring an additional 22,582 shares during the period. State Street Corp increased its position in Aviat Networks by 2.6% in the 1st quarter. State Street Corp now owns 288,174 shares of the communications equipment provider’s stock valued at $9,930,000 after acquiring an additional 7,257 shares during the period. Select Equity Group LP increased its position in Aviat Networks by 1.1% in the 1st quarter. Select Equity Group LP now owns 387,898 shares of the communications equipment provider’s stock valued at $13,367,000 after acquiring an additional 4,074 shares during the period. Finally, First Trust Advisors LP increased its position in Aviat Networks by 9.0% in the 1st quarter. First Trust Advisors LP now owns 28,822 shares of the communications equipment provider’s stock valued at $993,000 after acquiring an additional 2,374 shares during the period. Institutional investors and hedge funds own 68.93% of the company’s stock.
Insider Buying and Selling
In other news, CEO Pete A. Smith purchased 1,000 shares of the company’s stock in a transaction on Friday, May 12th. The stock was bought at an average cost of $29.83 per share, for a total transaction of $29,830.00. Following the completion of the purchase, the chief executive officer now directly owns 192,918 shares of the company’s stock, valued at approximately $5,754,743.94. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.60% of the stock is currently owned by company insiders.
About Aviat Networks
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Aviat Networks, Inc engages in the design, manufacture, and sale of wireless network products and solutions. Its product includes wireless transmission networking systems for microwave and millimeter wave networking applications such as microwave routers, microwave switches, and split mount RF units. It also offers services such as network planning and design, site surveys and construction, systems integration, installation, maintenance, network monitoring, training, and customer services.
Further Reading
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