Aviat Networks (NASDAQ:AVNW) Stock Price Crosses Above 200-Day Moving Average of $21.15


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Aviat Networks, Inc. (NASDAQ:AVNW)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.15 and traded as high as $38.02. Aviat Networks shares last traded at $34.36, with a volume of 665,373 shares trading hands.

Several research firms have commented on AVNW. Zacks Investment Research downgraded Aviat Networks from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 6th. Northland Securities increased their target price on Aviat Networks from $20.00 to $28.50 and gave the company an “outperform” rating in a research report on Thursday, February 4th.

The company has a market capitalization of $382.36 million, a P/E ratio of 31.24 and a beta of 2.08. The stock has a 50-day moving average price of $34.33 and a 200-day moving average price of $21.15.

Aviat Networks (NASDAQ:AVNW) last issued its quarterly earnings data on Tuesday, February 2nd. The communications equipment provider reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.38. Aviat Networks had a return on equity of 17.47% and a net margin of 2.49%. The company had revenue of $70.53 million during the quarter, compared to the consensus estimate of $66.00 million. Equities research analysts anticipate that Aviat Networks, Inc. will post 2.85 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Punch & Associates Investment Management Inc. raised its position in shares of Aviat Networks by 1.6% during the fourth quarter. Punch & Associates Investment Management Inc. now owns 25,000 shares of the communications equipment provider’s stock worth $854,000 after acquiring an additional 400 shares during the last quarter. Morgan Stanley grew its stake in Aviat Networks by 44.4% during the third quarter. Morgan Stanley now owns 2,691 shares of the communications equipment provider’s stock worth $60,000 after purchasing an additional 827 shares during the period. Globeflex Capital L P grew its stake in Aviat Networks by 5.9% during the fourth quarter. Globeflex Capital L P now owns 49,555 shares of the communications equipment provider’s stock worth $1,692,000 after purchasing an additional 2,749 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Aviat Networks during the third quarter worth approximately $112,000. Finally, Citigroup Inc. grew its stake in Aviat Networks by 1,733.0% during the fourth quarter. Citigroup Inc. now owns 5,499 shares of the communications equipment provider’s stock worth $188,000 after purchasing an additional 5,199 shares during the period. Institutional investors own 56.02% of the company’s stock.

About Aviat Networks (NASDAQ:AVNW)

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 unit. It also offers services such as network planning and design, site surveys and construction, systems integration, installation, maintenance, network monitoring, training, and customer services.

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