Viavi Solutions (NASDAQ:VIAV) Lowered to Neutral at Rosenblatt Securities

Rosenblatt Securities downgraded shares of Viavi Solutions (NASDAQ:VIAV) from a buy rating to a neutral rating in a research report released on Wednesday morning, Marketbeat Ratings reports. Rosenblatt Securities currently has $8.25 price objective on the communications equipment provider’s stock, down from their previous price objective of $10.00.

A number of other research analysts have also recently commented on VIAV. Susquehanna cut Viavi Solutions from a positive rating to a neutral rating and set a $9.00 target price for the company. in a research note on Friday, May 3rd. Stifel Nicolaus restated a buy rating and issued a $13.00 target price on shares of Viavi Solutions in a research note on Monday, April 1st. Needham & Company LLC restated a hold rating on shares of Viavi Solutions in a research note on Friday, May 3rd. Morgan Stanley raised their target price on Viavi Solutions from $9.00 to $11.00 and gave the company an equal weight rating in a research note on Wednesday, March 6th. Finally, Northland Securities raised their target price on Viavi Solutions from $12.00 to $17.00 and gave the company an outperform rating in a research note on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $11.65.

Viavi Solutions Trading Down 6.2 %

NASDAQ VIAV opened at $6.66 on Wednesday. Viavi Solutions has a fifty-two week low of $6.63 and a fifty-two week high of $11.65. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.35 and a current ratio of 3.81. The stock has a 50 day simple moving average of $7.58 and a two-hundred day simple moving average of $8.90. The stock has a market cap of $1.49 billion, a P/E ratio of -333.00 and a beta of 0.94.

Viavi Solutions (NASDAQ:VIAV) last released 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). Viavi Solutions had a positive return on equity of 4.65% and a negative net margin of 0.42%. The business had revenue of $246.00 million during the quarter, compared to analysts’ expectations of $249.08 million. During the same quarter last year, the business posted $0.02 EPS. The company’s quarterly revenue was down .7% compared to the same quarter last year. On average, analysts forecast that Viavi Solutions will post 0.12 earnings per share for the current year.

Insider Activity at Viavi Solutions

In related news, EVP Paul Mcnab sold 4,762 shares of Viavi Solutions stock in a transaction on Friday, May 10th. The stock was sold at an average price of $7.35, for a total transaction of $35,000.70. Following the transaction, the executive vice president now directly owns 49,777 shares in the company, valued at $365,860.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 14,985 shares of company stock worth $109,969. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Viavi Solutions

Several large investors have recently made changes to their positions in the business. Headlands Technologies LLC bought a new stake in shares of Viavi Solutions in the first quarter worth about $55,000. Park Avenue Securities LLC bought a new stake in shares of Viavi Solutions in the first quarter worth about $99,000. Versor Investments LP bought a new stake in shares of Viavi Solutions in the fourth quarter worth about $110,000. Quadrant Capital Group LLC increased its holdings in shares of Viavi Solutions by 49.0% in the fourth quarter. Quadrant Capital Group LLC now owns 12,019 shares of the communications equipment provider’s stock worth $121,000 after purchasing an additional 3,952 shares during the last quarter. Finally, Heritage Wealth Management LLC bought a new stake in shares of Viavi Solutions in the fourth quarter worth about $150,000. 95.54% of the stock is currently 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.