Viavi Solutions’ (VIAV) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Viavi Solutions (NASDAQ:VIAV) in a research report sent to investors on Friday, Benzinga reports.

VIAV has been the topic of a number of other reports. Rosenblatt Securities raised their price target on Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a report on Friday. Stifel Nicolaus dropped their price target on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. StockNews.com raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Finally, B. Riley lowered their price objective on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.42.

Viavi Solutions Stock Performance

Shares of VIAV opened at $9.86 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.16 and a current ratio of 3.55. Viavi Solutions has a 1 year low of $6.60 and a 1 year high of $11.32. The firm has a fifty day moving average of $8.81 and a 200-day moving average of $8.01. The company has a market cap of $2.19 billion, a price-to-earnings ratio of -58.00 and a beta of 0.90.

Viavi Solutions (NASDAQ:VIAV) last posted its earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.21%. The firm had revenue of $238.20 million during the quarter, compared to analyst estimates of $240.09 million. During the same period in the previous year, the business posted $0.05 EPS. Viavi Solutions’s revenue was down 3.9% on a year-over-year basis. As a group, equities analysts anticipate that Viavi Solutions will post 0.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Masood Jabbar sold 15,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $9.17, for a total transaction of $137,550.00. Following the completion of the sale, the director now owns 213,514 shares in the company, valued at approximately $1,957,923.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Masood Jabbar sold 15,000 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $9.17, for a total transaction of $137,550.00. Following the sale, the director now directly owns 213,514 shares of the company’s stock, valued at $1,957,923.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Paul Mcnab sold 7,324 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $7.52, for a total value of $55,076.48. Following the sale, the executive vice president now directly owns 35,631 shares of the company’s stock, valued at approximately $267,945.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 85,976 shares of company stock worth $720,562. 1.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in Viavi Solutions in the 3rd quarter worth approximately $25,000. Innealta Capital LLC acquired a new stake in Viavi Solutions during the 2nd quarter valued at $38,000. Quarry LP lifted its holdings in shares of 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 shares of Viavi Solutions in the second quarter worth $52,000. Finally, Headlands Technologies LLC purchased a new position in shares of Viavi Solutions during the first quarter valued at $55,000. 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.