Viavi Solutions (NASDAQ:VIAV) Rating Lowered to “Hold” at StockNews.com

StockNews.com cut shares of Viavi Solutions (NASDAQ:VIAV) from a buy rating to a hold rating in a research report released on Thursday.

VIAV has been the subject of several other research reports. Northland Securities lifted their price objective on Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Stifel Nicolaus dropped their price target on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Rosenblatt Securities upped their price objective on shares of 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 Friday, November 1st. Finally, UBS Group initiated coverage on shares of Viavi Solutions in a research note on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 price target for the company. Seven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $10.44.

Viavi Solutions Trading Up 0.6 %

Shares of VIAV opened at $9.94 on Thursday. Viavi Solutions has a twelve month low of $6.60 and a twelve month high of $11.32. The stock has a market cap of $2.20 billion, a PE ratio of -58.47 and a beta of 0.90. The company has a quick ratio of 3.31, a current ratio of 3.71 and a debt-to-equity ratio of 0.91. The business’s 50-day moving average price is $9.50 and its 200-day moving average price is $8.33.

Viavi Solutions (NASDAQ:VIAV) last posted its earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The business had revenue of $238.20 million for the quarter, compared to analyst estimates of $240.09 million. During the same quarter in the prior year, the firm posted $0.05 EPS. Viavi Solutions’s revenue was down 3.9% on a year-over-year basis. On average, equities analysts forecast that Viavi Solutions will post 0.19 EPS for the current fiscal year.

Insider Transactions at Viavi Solutions

In related news, Director Masood Jabbar sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $8.20, for a total transaction of $123,000.00. Following the transaction, the director now directly owns 228,514 shares in the company, valued at $1,873,814.80. This trade represents a 6.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Luke M. Scrivanich sold 3,029 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 57,319 shares of the company’s stock, valued at $507,846.34. The trade was a 5.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,949 shares of company stock worth $489,511. 1.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in VIAV. Sanctuary Advisors LLC boosted its position in Viavi Solutions by 44.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 15,938 shares of the communications equipment provider’s stock valued at $144,000 after buying an additional 4,875 shares during the period. Geode Capital Management LLC raised its stake in shares of Viavi Solutions by 1.0% during the third quarter. Geode Capital Management LLC now owns 5,307,974 shares of the communications equipment provider’s stock valued at $47,887,000 after acquiring an additional 54,633 shares during the last quarter. Barclays PLC boosted its holdings in shares of Viavi Solutions by 4.4% during the third quarter. Barclays PLC now owns 538,261 shares of the communications equipment provider’s stock worth $4,856,000 after purchasing an additional 22,893 shares during the period. MML Investors Services LLC boosted its holdings in shares of Viavi Solutions by 34.3% during the third quarter. MML Investors Services LLC now owns 37,480 shares of the communications equipment provider’s stock worth $338,000 after purchasing an additional 9,580 shares during the period. Finally, Dean Investment Associates LLC grew its stake in shares of Viavi Solutions by 189.6% in the third quarter. Dean Investment Associates LLC now owns 280,239 shares of the communications equipment provider’s stock worth $2,528,000 after purchasing an additional 183,481 shares during the last quarter. 95.54% of the stock is owned by hedge funds and other 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.