Viavi Solutions (NASDAQ:VIAV) Sets New 52-Week High at $14.95

Viavi Solutions Inc (NASDAQ:VIAV) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $14.95 and last traded at $14.95, with a volume of 2325933 shares traded. The stock had previously closed at $14.11.

Several research analysts have recently weighed in on VIAV shares. Zacks Investment Research reissued a “sell” rating on shares of Viavi Solutions in a research report on Saturday. ValuEngine downgraded shares of Viavi Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. BidaskClub lowered shares of Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 24th. B. Riley reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Viavi Solutions in a research note on Friday, August 16th. Finally, TheStreet cut shares of Viavi Solutions from a “b” rating to a “c+” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $14.50.

The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 28.56 and a beta of 1.02. The company has a current ratio of 3.23, a quick ratio of 2.87 and a debt-to-equity ratio of 0.80. The stock has a 50-day simple moving average of $14.08 and a 200 day simple moving average of $13.31.



Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Thursday, August 15th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.01. The company had revenue of $289.70 million for the quarter, compared to analysts’ expectations of $279.18 million. Viavi Solutions had a return on equity of 16.75% and a net margin of 0.48%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.14 EPS. Sell-side analysts expect that Viavi Solutions Inc will post 0.55 earnings per share for the current fiscal year.

In other news, CFO Amar Maletira sold 14,844 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $13.79, for a total value of $204,698.76. Following the transaction, the chief financial officer now directly owns 254,526 shares of the company’s stock, valued at $3,509,913.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Ralph Rondinone sold 3,200 shares of Viavi Solutions stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $14.19, for a total value of $45,408.00. Following the sale, the senior vice president now directly owns 27,398 shares of the company’s stock, valued at approximately $388,777.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,067 shares of company stock valued at $403,984. 0.50% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of VIAV. 361 Capital LLC bought a new position in shares of Viavi Solutions in the 1st quarter valued at approximately $2,877,000. Bank of Montreal Can boosted its holdings in shares of Viavi Solutions by 9,777.3% during the 2nd quarter. Bank of Montreal Can now owns 1,347,170 shares of the communications equipment provider’s stock worth $17,904,000 after buying an additional 1,333,531 shares during the period. Parametrica Management Ltd bought a new stake in shares of Viavi Solutions during the 1st quarter worth $257,000. Penserra Capital Management LLC bought a new stake in shares of Viavi Solutions during the 1st quarter worth $110,000. Finally, Rothschild & Co. Asset Management US Inc. acquired a new position in Viavi Solutions in the 1st quarter valued at $26,300,000. Hedge funds and other institutional investors own 94.70% of the company’s stock.

Viavi Solutions Company Profile (NASDAQ:VIAV)

Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military, and avionics customers worldwide. The company operates through Network Enablement, Service Enablement, and Optical Security and Performance Products segments.

Read More: Are sell-side analysts objective?

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