Viavi Solutions (NASDAQ:VIAV) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Viavi Solutions (NASDAQ:VIAV) in a research note published on Friday, Benzinga reports.

VIAV has been the topic of several other research reports. Susquehanna raised their price objective on shares of Viavi Solutions from $12.00 to $14.00 and gave the stock a positive rating in a research note on Thursday, March 7th. Stifel Nicolaus restated a buy rating and set a $13.00 price objective on shares of Viavi Solutions in a report on Monday, April 1st. Northland Securities increased their target price on shares of Viavi Solutions from $12.00 to $17.00 and gave the company an outperform rating in a research note on Wednesday, March 6th. StockNews.com upgraded shares of Viavi Solutions from a hold rating to a buy rating in a research note on Friday, April 12th. Finally, Morgan Stanley increased their price target on shares of Viavi Solutions from $9.00 to $11.00 and gave the stock an equal weight rating in a research report on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $12.00.

Viavi Solutions Stock Performance

VIAV traded down $0.46 during trading on Friday, hitting $7.56. The stock had a trading volume of 4,038,279 shares, compared to its average volume of 1,411,188. The company has a current ratio of 3.09, a quick ratio of 2.72 and a debt-to-equity ratio of 0.87. Viavi Solutions has a 12 month low of $7.10 and a 12 month high of $11.65. The company has a 50 day simple moving average of $9.11 and a 200-day simple moving average of $9.03. The firm has a market cap of $1.68 billion, a PE ratio of 378.00 and a beta of 0.97.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). The business had revenue of $246.00 million for the quarter, compared to analyst estimates of $249.08 million. Viavi Solutions had a positive return on equity of 4.66% and a negative net margin of 0.42%. Viavi Solutions’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.02 EPS. Analysts expect that Viavi Solutions will post 0.22 EPS for the current year.

Insider Transactions at Viavi Solutions

In related news, EVP Paul Mcnab sold 15,004 shares of Viavi Solutions stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $10.62, for a total transaction of $159,342.48. Following the completion of the transaction, the executive vice president now directly owns 57,940 shares of the company’s stock, valued at approximately $615,322.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Viavi Solutions news, SVP Kevin Christopher Siebert sold 13,967 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $10.70, for a total value of $149,446.90. Following the transaction, the senior vice president now owns 47,097 shares of the company’s stock, valued at $503,937.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Paul Mcnab sold 15,004 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $10.62, for a total transaction of $159,342.48. Following the completion of the sale, the executive vice president now owns 57,940 shares of the company’s stock, valued at approximately $615,322.80. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

Institutional Trading of Viavi Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Coldstream Capital Management Inc. lifted its position in Viavi Solutions by 13.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 11,922 shares of the communications equipment provider’s stock valued at $109,000 after purchasing an additional 1,411 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of Viavi Solutions by 11.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 17,326 shares of the communications equipment provider’s stock valued at $157,000 after acquiring an additional 1,756 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Viavi Solutions by 3.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 56,643 shares of the communications equipment provider’s stock valued at $518,000 after purchasing an additional 2,047 shares during the period. Handelsbanken Fonder AB boosted its position in shares of Viavi Solutions by 7.4% in the 4th quarter. Handelsbanken Fonder AB now owns 33,210 shares of the communications equipment provider’s stock worth $334,000 after purchasing an additional 2,300 shares during the last quarter. Finally, First National Bank of Omaha grew its stake in shares of Viavi Solutions by 5.4% during the fourth quarter. First National Bank of Omaha now owns 51,146 shares of the communications equipment provider’s stock worth $515,000 after purchasing an additional 2,633 shares during the period. Institutional investors and hedge funds 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.