Viavi Solutions (NASDAQ:VIAV) Upgraded at StockNews.com

StockNews.com upgraded shares of Viavi Solutions (NASDAQ:VIAV) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning.

A number of other equities analysts also recently commented on VIAV. Northland Securities upped their price objective on shares of Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Rosenblatt Securities raised their price target on Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a report on Friday, November 1st. B. Riley dropped their price objective on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Friday, August 9th. Stifel Nicolaus reduced their target price on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a report on Tuesday, August 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research report on Friday, November 1st. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.42.

Viavi Solutions Stock Performance

NASDAQ VIAV opened at $10.06 on Tuesday. The firm has a market cap of $2.23 billion, a P/E ratio of -59.18 and a beta of 0.90. Viavi Solutions has a 52-week low of $6.60 and a 52-week high of $11.32. The business’s 50-day moving average price is $9.14 and its 200 day moving average price is $8.15. The company has a quick ratio of 3.31, a current ratio of 3.71 and a debt-to-equity ratio of 0.91.

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

Insider Activity

In other news, Director Masood Jabbar sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $8.17, for a total transaction of $245,100.00. Following the completion of the transaction, the director now directly owns 243,514 shares of the company’s stock, valued at $1,989,509.38. This trade represents a 10.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kevin Christopher Siebert sold 8,432 shares of Viavi Solutions stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $8.63, for a total value of $72,768.16. Following the transaction, the senior vice president now owns 56,617 shares of the company’s stock, valued at $488,604.71. This represents a 12.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,652 shares of company stock worth $817,585 over the last 90 days. 1.52% of the stock is currently owned by corporate insiders.

Institutional Trading of Viavi Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Texas Permanent School Fund Corp boosted its stake in shares of Viavi Solutions by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 194,787 shares of the communications equipment provider’s stock worth $1,771,000 after purchasing an additional 2,754 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Viavi Solutions by 26.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 26,804 shares of the communications equipment provider’s stock worth $244,000 after acquiring an additional 5,623 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Viavi Solutions in the 1st quarter worth approximately $55,000. QRG Capital Management Inc. lifted its stake in shares of Viavi Solutions by 15.6% during the 1st quarter. QRG Capital Management Inc. now owns 21,340 shares of the communications equipment provider’s stock worth $194,000 after purchasing an additional 2,883 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of Viavi Solutions by 7.4% during the first quarter. ProShare Advisors LLC now owns 44,645 shares of the communications equipment provider’s stock worth $406,000 after purchasing an additional 3,072 shares during the last quarter. Hedge funds and other institutional investors own 95.54% of the company’s stock.

Viavi Solutions Company Profile

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.