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

StockNews.com upgraded shares of Viavi Solutions (NASDAQ:VIAV) from a hold rating to a buy rating in a report published on Monday morning.

A number of other analysts have also weighed in on the stock. Northland Securities raised their price target on shares of Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus lifted their target price on Viavi Solutions from $10.50 to $12.00 and gave the company a “buy” rating in a research note on Monday. Rosenblatt Securities boosted their target price on Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a research report on Monday. Finally, UBS Group began coverage on shares of Viavi Solutions in a research report on Tuesday, November 19th. They set a “neutral” rating and a $10.60 target price on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.44.

Viavi Solutions Stock Performance

NASDAQ:VIAV opened at $10.15 on Monday. The stock has a market capitalization of $2.25 billion, a P/E ratio of -59.70 and a beta of 0.92. Viavi Solutions has a 1 year low of $6.60 and a 1 year high of $11.49. The firm has a 50 day moving average of $9.91 and a 200-day moving average of $8.59. 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 (NASDAQ:VIAV) last released its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The business had revenue of $238.20 million during the quarter, compared to analysts’ expectations of $240.09 million. During the same period in the previous year, the business posted $0.05 earnings per share. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Viavi Solutions will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling at Viavi Solutions

In other news, Director Masood Jabbar sold 15,000 shares of Viavi Solutions stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $10.14, for a total transaction of $152,100.00. Following the transaction, the director now directly owns 225,333 shares of the company’s stock, valued at $2,284,876.62. This trade represents a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Luke M. Scrivanich sold 2,802 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $10.43, for a total transaction of $29,224.86. Following the completion of the sale, the senior vice president now owns 54,517 shares of the company’s stock, valued at approximately $568,612.31. This represents a 4.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,831 shares of company stock valued at $345,712. 1.52% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viavi Solutions

Several large investors have recently modified their holdings of the business. SG Americas Securities LLC increased its stake in Viavi Solutions by 306.7% during the 2nd quarter. SG Americas Securities LLC now owns 54,567 shares of the communications equipment provider’s stock worth $375,000 after purchasing an additional 41,149 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in Viavi Solutions by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock worth $772,000 after purchasing an additional 2,100 shares during the period. Bank of New York Mellon Corp increased its holdings in Viavi Solutions by 65.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,290,197 shares of the communications equipment provider’s stock worth $22,604,000 after purchasing an additional 1,298,394 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Viavi Solutions in the 2nd quarter valued at about $52,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Viavi Solutions by 20.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 54,718 shares of the communications equipment provider’s stock valued at $376,000 after purchasing an additional 9,380 shares during the period. 95.54% of the stock is currently owned by 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.