Viavi Solutions Inc. (NASDAQ:VIAV) Receives Average Rating of “Hold” from Analysts

Viavi Solutions Inc. (NASDAQ:VIAV) has earned a consensus recommendation of “Hold” from the nine research firms that are currently covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $10.44.

VIAV has been the topic of a number of recent research reports. Northland Securities increased their price objective on shares of Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Rosenblatt Securities increased their target price on Viavi Solutions from $8.25 to $10.50 and gave the company 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 report on Friday, November 1st. UBS Group started coverage on Viavi Solutions in a research note on Tuesday, November 19th. They set a “neutral” rating and a $10.60 price objective for the company. Finally, B. Riley dropped their price objective on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research report on Friday, August 9th.

Insider Buying and Selling

In other news, EVP Paul Mcnab sold 5,920 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $8.45, for a total value of $50,024.00. Following the sale, the executive vice president now owns 34,545 shares in the company, valued at $291,905.25. This represents a 14.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Masood Jabbar sold 15,000 shares of Viavi Solutions stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $8.20, for a total value of $123,000.00. Following the transaction, the director now owns 228,514 shares of the company’s stock, valued at $1,873,814.80. The trade was a 6.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,949 shares of company stock worth $489,511 in the last ninety days. 1.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System increased its holdings in Viavi Solutions by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock worth $772,000 after acquiring an additional 2,100 shares in the last quarter. nVerses Capital LLC increased its position in Viavi Solutions by 24.0% during the third quarter. nVerses Capital LLC now owns 11,900 shares of the communications equipment provider’s stock worth $107,000 after purchasing an additional 2,300 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Viavi Solutions in the third quarter valued at approximately $25,000. KBC Group NV raised its position in Viavi Solutions by 53.0% in the third quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock valued at $85,000 after purchasing an additional 3,252 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Viavi Solutions by 7.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,761 shares of the communications equipment provider’s stock valued at $530,000 after buying an additional 4,043 shares during the period. 95.54% of the stock is owned by institutional investors and hedge funds.

Viavi Solutions Price Performance

VIAV opened at $10.39 on Friday. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of -61.11 and a beta of 0.92. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. Viavi Solutions has a 12-month low of $6.60 and a 12-month high of $11.32. The business’s fifty day simple moving average is $9.64 and its 200-day simple moving average is $8.40.

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

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.