Viavi Solutions (NASDAQ:VIAV) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Viavi Solutions (NASDAQ:VIAV) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

Several other research analysts also recently weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a research note on Friday, November 1st. Rosenblatt Securities lifted their target price on shares of Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research note on Friday, November 1st. B. Riley lowered their price target on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Northland Securities lifted 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. Finally, Stifel Nicolaus dropped their target price on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $10.42.

Viavi Solutions Stock Up 2.6 %

Viavi Solutions stock opened at $10.50 on Monday. Viavi Solutions has a fifty-two week low of $6.60 and a fifty-two week high of $11.32. The firm’s 50-day simple moving average is $8.93 and its 200 day simple moving average is $8.06. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.31 and a current ratio of 3.71. The stock has a market cap of $2.33 billion, a PE ratio of -61.76 and a beta of 0.90.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The company had revenue of $238.20 million for the quarter, compared to the consensus estimate of $240.09 million. During the same period in the previous year, the firm earned $0.05 EPS. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. Research analysts predict that Viavi Solutions will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling at Viavi Solutions

In related news, EVP Paul Mcnab sold 7,324 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $7.52, for a total value of $55,076.48. Following the sale, the executive vice president now owns 35,631 shares in the company, valued at approximately $267,945.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Viavi Solutions news, Director Masood Jabbar sold 30,000 shares of Viavi Solutions stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $8.17, for a total transaction of $245,100.00. Following the completion of the sale, the director now directly owns 243,514 shares in the company, valued at $1,989,509.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Paul Mcnab sold 7,324 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $7.52, for a total transaction of $55,076.48. Following the completion of the transaction, the executive vice president now directly owns 35,631 shares in the company, valued at $267,945.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 85,976 shares of company stock valued at $720,562 in the last three months. Company insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gilbert & Cook Inc. purchased a new stake in Viavi Solutions during the third quarter valued at about $95,000. Natixis Advisors LLC boosted its stake in Viavi Solutions by 29.4% in the third quarter. Natixis Advisors LLC now owns 65,393 shares of the communications equipment provider’s stock worth $590,000 after buying an additional 14,863 shares in the last quarter. KBC Group NV grew its position in Viavi Solutions by 53.0% during the third quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock valued at $85,000 after acquiring an additional 3,252 shares during the last quarter. Kovack Advisors Inc. raised its stake in shares of Viavi Solutions by 33.5% during the third quarter. Kovack Advisors Inc. now owns 206,200 shares of the communications equipment provider’s stock worth $1,860,000 after acquiring an additional 51,800 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of Viavi Solutions in the 3rd quarter worth approximately $25,000. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

Viavi Solutions Company Profile

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.