Notable News Spotlight: Aviat Networks (NASDAQ:AVNW)

Aviat Networks (NASDAQ:AVNW) changed 6.73% to recent value of $8.4. The stock transacted 8556 shares during most recent day however it has an average volume of 19.29K shares. It spotted trading -46.39% off 52-week high price. On the other end, the stock has been noted 18.34% away from the low price over the last 52-weeks.

On April 3, 2020, Aviat Networks (NASDAQ:AVNW) the leading expert in wireless transport solutions,  reported the promotion of Eric Chang to Chief Financial Officer. Mr. Chang joined Aviat in February 2016 and most recently served as Senior Vice President, Corporate Controller and Principal Accounting Officer.

Eric’s promotion is reflective of his strong contributions as a member of Aviat’s senior leadership team and the level of expertise he brings across financial planning and analysis, accounting, compliance, investor relations and business strategy, said Pete Smith, Aviat Networks’ President and Chief Executive Officer. This is a natural next step for Eric, and I look forward to continuing to work with him as the Company focuses on its growth strategy. Aviat’s products and services are more critical than ever as our communication service providers and other customers provide essential infrastructure and face increased network demand during the COVID-19 situation.

Prior to joining Aviat Networks, Mr. Chang served as senior director and corporate controller at Micrel, Incorporated from 2013 to 2016 until it was acquired by Microchip Technology. Before that, Mr. Chang served as senior director, assistant corporate controller and business unit controller at Atmel Corporation from 2007 to 2013. Mr. Chang was at Ernst & Young LLP from 2003 to 2007, where he last served as senior audit manager, managing financial statement audits of public companies. Mr. Chang is a Certified Public Accountant in California and holds a Bachelor of Science degree in Accounting and Computer Information Systems from Indiana University Kelley School of Business.

AVNW has a gross margin of 34.20%. Its earnings per share (EPS) expected to touch remained -81.20% for this year while earning per share for the next 5-years is expected to reach at 12.00%.

The company has 5.55M of outstanding shares and 4.85M shares were floated in the market. According to the most recent quarter its current ratio was 1.4 that represents company’s ability to meet its current financial obligations. The price moved ahead of -3.39% from the mean of 20 days, -26.75% from mean of 50 days SMA and performed -36.26% from mean of 200 days price. Company’s performance for the week was 4.61%, -32.37% for month and YTD performance remained -40.21%.

Leave a Reply

Your email address will not be published. Required fields are marked *