Viavi Solutions (NASDAQ:VIAV – Get Free Report) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.
Several other brokerages have also issued reports on VIAV. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a report on Monday, December 16th. Morgan Stanley reissued an “underweight” rating and issued a $9.50 target price (up from $8.00) on shares of Viavi Solutions in a research note on Tuesday, December 17th. UBS Group assumed coverage on Viavi Solutions in a research report on Tuesday, November 19th. They set a “neutral” rating and a $10.60 price target on the stock. Stifel Nicolaus boosted their price objective on Viavi Solutions from $10.50 to $12.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, Rosenblatt Securities increased their target price on Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.44.
Viavi Solutions Trading Down 2.2 %
Viavi Solutions (NASDAQ:VIAV – Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. The business had revenue of $238.20 million for the quarter, compared to the consensus estimate of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. Viavi Solutions’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period last year, the company posted $0.05 EPS. On average, equities analysts expect that Viavi Solutions will post 0.19 earnings per share for the current year.
Insider Buying and Selling
In other news, SVP Luke M. Scrivanich sold 2,802 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $10.43, for a total transaction of $29,224.86. Following the completion of the transaction, the senior vice president now directly owns 54,517 shares of the company’s stock, valued at $568,612.31. This trade represents a 4.89 % decrease in their position. The sale 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 that occurred on Thursday, November 14th. The shares were sold at an average price of $10.14, for a total transaction of $152,100.00. Following the completion of the sale, the director now owns 225,333 shares in the company, valued at $2,284,876.62. This trade represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,802 shares of company stock worth $318,875. 1.52% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Viavi Solutions
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. increased its position in shares of Viavi Solutions by 5.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 43,732 shares of the communications equipment provider’s stock valued at $442,000 after acquiring an additional 2,277 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Viavi Solutions by 39.3% in the third quarter. JPMorgan Chase & Co. now owns 545,446 shares of the communications equipment provider’s stock valued at $4,920,000 after purchasing an additional 153,745 shares in the last quarter. Sanctuary Advisors LLC increased its position in shares of Viavi Solutions by 44.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 15,938 shares of the communications equipment provider’s stock worth $144,000 after purchasing an additional 4,875 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Viavi Solutions by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 5,307,974 shares of the communications equipment provider’s stock worth $47,887,000 after purchasing an additional 54,633 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Viavi Solutions by 4.4% in the 3rd quarter. Barclays PLC now owns 538,261 shares of the communications equipment provider’s stock valued at $4,856,000 after buying an additional 22,893 shares during the last quarter. 95.54% of the stock is owned by institutional investors.
Viavi Solutions Company Profile
Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.
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