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

Viavi Solutions (NASDAQ:VIAV) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

A number of other research analysts have also recently weighed in on VIAV. Stifel Nicolaus lifted their target price on shares of Viavi Solutions from $10.50 to $12.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Morgan Stanley restated an “underweight” rating and issued a $9.50 price objective (up from $8.00) on shares of Viavi Solutions in a research report on Tuesday, December 17th. UBS Group assumed coverage on Viavi Solutions in a research report on Tuesday, November 19th. They set a “neutral” rating and a $10.60 target price for the company. Rosenblatt Securities boosted their price target on Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $10.44.

Viavi Solutions Trading Up 0.7 %

NASDAQ:VIAV opened at $10.33 on Tuesday. Viavi Solutions has a one year low of $6.60 and a one year high of $11.49. The business has a fifty day moving average price of $10.04 and a 200-day moving average price of $8.70. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of -60.76 and a beta of 0.92. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.71 and a quick ratio of 3.31.

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 the consensus estimate of $0.06. The firm had revenue of $238.20 million for the quarter, compared to the consensus estimate of $240.09 million. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 earnings per share. Sell-side analysts forecast that Viavi Solutions will post 0.19 EPS for the current year.

Insider Activity

In related news, SVP Luke M. Scrivanich sold 2,802 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $10.43, for a total value of $29,224.86. Following the completion of the transaction, the senior vice president now owns 54,517 shares of the company’s stock, valued at approximately $568,612.31. This trade represents a 4.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Masood Jabbar sold 15,000 shares of Viavi Solutions stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $10.14, for a total value of $152,100.00. Following the completion of the transaction, the director now owns 225,333 shares of the company’s stock, valued at approximately $2,284,876.62. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,802 shares of company stock worth $318,875. 1.52% of the stock is currently owned by insiders.

Institutional Trading of Viavi Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of VIAV. Capital Performance Advisors LLP bought a new position in Viavi Solutions during the third quarter valued at $25,000. Innealta Capital LLC purchased a new position in shares of Viavi Solutions during the 2nd quarter worth about $38,000. Quarry LP grew its holdings in Viavi Solutions by 419.7% during the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock valued at $50,000 after purchasing an additional 5,838 shares during the last quarter. KBC Group NV raised its position in Viavi Solutions by 53.0% in the 3rd quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock worth $85,000 after purchasing an additional 3,252 shares during the period. Finally, Gilbert & Cook Inc. bought a new stake in Viavi Solutions in the third quarter worth about $95,000. Hedge funds and other institutional investors own 95.54% of the company’s stock.

About Viavi Solutions

Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.