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 report published on Tuesday.

Other equities analysts have also recently issued reports about the stock. Stifel Nicolaus reduced their price objective on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research 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 for the company in a report on Friday, August 9th. Rosenblatt Securities raised their target price on Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Northland Securities upped their price target on Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.42.

Viavi Solutions Stock Down 1.9 %

NASDAQ:VIAV opened at $9.87 on Tuesday. The stock’s fifty day moving average price is $9.18 and its two-hundred day moving average price is $8.16. The company has a market cap of $2.19 billion, a price-to-earnings ratio of -58.06 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 company has a debt-to-equity ratio of 0.91, a quick ratio of 3.31 and a current ratio of 3.71.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) 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 business had revenue of $238.20 million for the quarter, compared to analysts’ expectations of $240.09 million. During the same quarter last year, the business earned $0.05 earnings per share. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. On average, analysts anticipate that Viavi Solutions will post 0.19 EPS for the current year.

Insider Activity

In related news, SVP Luke M. Scrivanich sold 3,029 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $8.86, for a total value of $26,836.94. Following the completion of the transaction, the senior vice president now directly owns 57,319 shares of the company’s stock, valued at approximately $507,846.34. This represents a 5.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kevin Christopher Siebert sold 8,432 shares of Viavi Solutions stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $8.63, for a total value of $72,768.16. Following the completion of the sale, the senior vice president now directly owns 56,617 shares in the company, valued at $488,604.71. This represents a 12.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,652 shares of company stock worth $817,585 in the last 90 days. Corporate insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of VIAV. Capital Performance Advisors LLP acquired a new position in Viavi Solutions during the 3rd quarter worth approximately $25,000. Innealta Capital LLC acquired a new position in Viavi Solutions during the second quarter worth $38,000. Quarry LP grew its position in Viavi Solutions by 419.7% in the second 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 in the last quarter. Summit Securities Group LLC acquired a new stake in Viavi Solutions in the 2nd quarter valued at $52,000. Finally, Headlands Technologies LLC acquired a new stake in Viavi Solutions in the 1st quarter valued at $55,000. 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.