StockNews.com Upgrades Viavi Solutions (NASDAQ:VIAV) to Buy

Viavi Solutions (NASDAQ:VIAV) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.

Several other research firms have also issued reports on VIAV. UBS Group assumed coverage on Viavi Solutions in a research report on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 price target for the company. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research note on Monday. Rosenblatt Securities boosted their price objective on Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Stifel Nicolaus upped their target price on Viavi Solutions from $10.50 to $12.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Northland Securities upped their price target on shares of Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Viavi Solutions has an average rating of “Hold” and a consensus target price of $10.44.

Viavi Solutions Price Performance

Shares of NASDAQ:VIAV opened at $10.52 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.31 and a current ratio of 3.71. Viavi Solutions has a 52 week low of $6.60 and a 52 week high of $11.49. The firm has a market cap of $2.33 billion, a PE ratio of -61.88 and a beta of 0.92. The firm’s fifty day moving average is $9.88 and its 200-day moving average is $8.57.

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

Insider Activity at Viavi Solutions

In other news, SVP Luke M. Scrivanich sold 3,029 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $8.86, for a total transaction of $26,836.94. Following the completion of the transaction, the senior vice president now directly owns 57,319 shares of the company’s stock, valued at $507,846.34. This represents a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Masood Jabbar sold 15,000 shares of Viavi Solutions stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $10.14, for a total value of $152,100.00. Following the completion of the sale, the director now directly owns 225,333 shares in the company, valued at approximately $2,284,876.62. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,831 shares of company stock worth $345,712 in the last ninety days. Company insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On Viavi Solutions

Institutional investors and hedge funds have recently made changes to their positions in the stock. Federated Hermes Inc. lifted its position in Viavi Solutions by 98,561.6% during the second quarter. Federated Hermes Inc. now owns 187,457 shares of the communications equipment provider’s stock worth $1,288,000 after acquiring an additional 187,267 shares during the last quarter. Louisiana State Employees Retirement System raised 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 valued at $772,000 after acquiring an additional 2,100 shares in the last quarter. Leeward Investments LLC MA lifted its position in shares of Viavi Solutions by 17.1% during the 3rd quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider’s stock valued at $15,385,000 after acquiring an additional 249,554 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Viavi Solutions by 7.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,194,959 shares of the communications equipment provider’s stock valued at $28,819,000 after buying an additional 217,399 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Viavi Solutions in the 3rd quarter valued at approximately $105,000. Institutional investors own 95.54% of the company’s stock.

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.