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Akkaraju Laxmi, a director at Aviat Networks , Inc. (NASDAQ:AVNW), recently purchased 900 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The timing is notable as the stock has declined nearly 50% over the past six months and currently trades at $15.95, significantly below its 52-week high of $38.85. The shares were acquired at a price of $15.85 each, totaling $14,265. Following this transaction, Laxmi now directly owns 13,285 shares of Aviat Networks. The acquisition highlights continued insider interest in the company's stock, which appears undervalued according to InvestingPro analysis. While the company faces near-term challenges with six analysts revising earnings downward, analysts maintain optimistic projections for profitability this fiscal year.
In other recent news, Aviat Networks has reported its Q1 FY2025 financial results, which show a modest revenue increase to $88.4 million, a 1.7% year-over-year rise. This growth was primarily driven by international gains, including significant contributions from the Pasolink acquisition. However, the company faced a decrease in non-GAAP gross margin to 23% and reported an adjusted EBITDA loss of $7.7 million due to ongoing weakness in U.S. Tier 1 capital expenditures and project timing issues.
Despite these challenges, Aviat Networks remains optimistic about the potential for growth, particularly in the private 5G sector and with the upcoming ProVision Plus software transition opportunity. The company anticipates a $50 million upgrade opportunity from transitioning Pasolink customers to its ProVision Plus software.
The company has adjusted its fiscal year 2025 guidance, expecting revenue between $430 million to $470 million, and an adjusted EBITDA between $30 million and $40 million. Furthermore, Aviat Networks received its first order for the Aprisa 5G router from a U.S. utility and expects gross margin improvements in Q2 due to a better project mix and software revenue normalization. These are among the recent developments at Aviat Networks.
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