Viavi Solutions (NASDAQ:VIAV) Lowered to Hold Rating by StockNews.com

StockNews.com cut shares of Viavi Solutions (NASDAQ:VIAV) from a buy rating to a hold rating in a report released on Thursday.

VIAV has been the subject of a number of other research reports. Stifel Nicolaus lowered their target price on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research note on Tuesday, August 6th. UBS Group initiated coverage on Viavi Solutions in a research report on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 price objective for the company. Northland Securities upped their target price on Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a report on Friday, November 1st. Finally, B. Riley dropped their price target on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Seven research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Viavi Solutions has an average rating of “Hold” and a consensus target price of $10.44.

Viavi Solutions Stock Up 0.6 %

Shares of VIAV opened at $9.94 on Thursday. The company has a market capitalization of $2.20 billion, a PE ratio of -58.47 and a beta of 0.90. The stock’s 50-day moving average price is $9.50 and its two-hundred day moving average price is $8.33. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. Viavi Solutions has a 12 month low of $6.60 and a 12 month high of $11.32.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. The company had revenue of $238.20 million for the quarter, compared to analyst estimates of $240.09 million. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 earnings per share. On average, analysts anticipate that Viavi Solutions will post 0.19 EPS for the current year.

Insider Transactions at Viavi Solutions

In other news, Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $8.20, for a total value of $123,000.00. Following the completion of the sale, the director now owns 228,514 shares in the company, valued at $1,873,814.80. This represents a 6.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Paul Mcnab sold 5,920 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $8.45, for a total transaction of $50,024.00. Following the transaction, the executive vice president now owns 34,545 shares in the company, valued at approximately $291,905.25. This trade represents a 14.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,949 shares of company stock valued at $489,511 over the last ninety days. 1.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VIAV. CANADA LIFE ASSURANCE Co raised its stake in shares of Viavi Solutions by 7.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 226,874 shares of the communications equipment provider’s stock valued at $2,058,000 after buying an additional 15,641 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Viavi Solutions by 5.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 158,829 shares of the communications equipment provider’s stock valued at $1,445,000 after purchasing an additional 7,796 shares during the last quarter. Bayesian Capital Management LP bought a new position in Viavi Solutions during the first quarter worth about $176,000. Tidal Investments LLC purchased a new position in shares of Viavi Solutions in the first quarter worth about $564,000. Finally, Boston Partners bought a new stake in shares of Viavi Solutions in the first quarter valued at approximately $795,000. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

About Viavi Solutions

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.