Viavi Solutions (NASDAQ:VIAV) Downgraded to “Sell” at Zacks Investment Research

Viavi Solutions (NASDAQ:VIAV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Viavi Solutions Inc. provides software and hardware platforms and instruments for telecommunications service providers, wireless operators, cable operators, network-equipment manufacturers and enterprises. The Company offers installation, commissioning, scripting, custom analytics, integration, business intelligence consulting, operational assistance, field and lab testing, technical training, maintenance, and support services. Its operating segment consists of Network and Service Enablement, Communications and Commercial Optical Products and Optical Security and Performance Products. Viavi Solutions Inc., formerly known as JDS Uniphase Corporation, is based in Milpitas, Calif. “

Several other brokerages have also weighed in on VIAV. B. Riley reaffirmed a “buy” rating and issued a $16.00 target price on shares of Viavi Solutions in a research report on Friday, August 16th. Northland Securities set a $16.00 target price on Viavi Solutions and gave the stock a “buy” rating in a research report on Friday, August 16th. BidaskClub lowered Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 24th. Needham & Company LLC increased their target price on Viavi Solutions from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday. Finally, ValuEngine lowered Viavi Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. Viavi Solutions has an average rating of “Buy” and an average target price of $14.63.



Shares of Viavi Solutions stock traded up $0.35 during trading hours on Friday, reaching $14.74. 254,688 shares of the company’s stock were exchanged, compared to its average volume of 1,886,564. Viavi Solutions has a 52-week low of $9.17 and a 52-week high of $15.17. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 28.35 and a beta of 1.02. The company has a fifty day moving average of $14.08 and a 200-day moving average of $13.31. The company has a current ratio of 3.23, a quick ratio of 2.87 and a debt-to-equity ratio of 0.80.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings results on Thursday, August 15th. The communications equipment provider reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Viavi Solutions had a return on equity of 16.75% and a net margin of 0.48%. The company had revenue of $289.70 million for the quarter, compared to analyst estimates of $279.18 million. During the same quarter in the prior year, the company posted $0.14 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities research analysts anticipate that Viavi Solutions will post 0.55 earnings per share for the current fiscal year.

In related news, SVP Luke M. Scrivanich sold 7,398 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $13.91, for a total value of $102,906.18. Following the completion of the sale, the senior vice president now directly owns 46,295 shares in the company, valued at approximately $643,963.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Amar Maletira sold 2,806 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $14.00, for a total value of $39,284.00. Following the completion of the sale, the chief financial officer now owns 251,720 shares of the company’s stock, valued at $3,524,080. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,067 shares of company stock valued at $403,984. 0.50% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Viavi Solutions by 1.2% during the second quarter. Vanguard Group Inc. now owns 24,589,402 shares of the communications equipment provider’s stock valued at $326,793,000 after acquiring an additional 288,080 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Viavi Solutions by 38.3% during the second quarter. Renaissance Technologies LLC now owns 4,442,088 shares of the communications equipment provider’s stock valued at $59,035,000 after acquiring an additional 1,230,200 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Viavi Solutions by 1.9% during the second quarter. Victory Capital Management Inc. now owns 3,693,891 shares of the communications equipment provider’s stock valued at $49,092,000 after acquiring an additional 69,329 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of Viavi Solutions by 18.3% during the first quarter. Clearbridge Investments LLC now owns 3,423,335 shares of the communications equipment provider’s stock valued at $42,381,000 after acquiring an additional 530,681 shares in the last quarter. Finally, DNB Asset Management AS grew its stake in shares of Viavi Solutions by 25.6% during the second quarter. DNB Asset Management AS now owns 3,271,930 shares of the communications equipment provider’s stock valued at $43,484,000 after acquiring an additional 666,571 shares in the last quarter. Hedge funds and other institutional investors own 94.70% of the company’s stock.

Viavi Solutions Company Profile

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.

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