Viavi Solutions Inc. (NASDAQ:VIAV) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Viavi Solutions Inc. (NASDAQ:VIAV) have received an average rating of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $10.42.

Several analysts have recently weighed in on VIAV shares. Northland Securities boosted their price target on Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. B. Riley decreased their price target on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a research report on Friday, August 9th. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a report on Tuesday. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a report on Friday, November 1st. Finally, Rosenblatt Securities lifted their target price on Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a report on Friday, November 1st.

Insider Activity

In related news, Director Masood Jabbar sold 30,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 243,514 shares in the company, valued at $1,989,509.38. The trade was a 10.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul Mcnab sold 5,920 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $8.45, for a total transaction of $50,024.00. Following the completion of the sale, the executive vice president now owns 34,545 shares of the company’s stock, valued at $291,905.25. The trade was a 14.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,652 shares of company stock valued at $817,585 in the last ninety days. 1.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Capital World Investors raised its position in shares of Viavi Solutions by 305.4% during the first quarter. Capital World Investors now owns 12,161,535 shares of the communications equipment provider’s stock worth $110,548,000 after purchasing an additional 9,161,535 shares during the period. Capital Research Global Investors bought a new position in shares of Viavi Solutions in the first quarter valued at $29,526,000. Bank of New York Mellon Corp lifted its stake in shares of Viavi Solutions by 65.2% in the second quarter. Bank of New York Mellon Corp now owns 3,290,197 shares of the communications equipment provider’s stock valued at $22,604,000 after buying an additional 1,298,394 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Viavi Solutions by 12.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,818,337 shares of the communications equipment provider’s stock valued at $39,972,000 after buying an additional 661,450 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its position in shares of Viavi Solutions by 9.2% during the second quarter. Westwood Holdings Group Inc. now owns 7,203,703 shares of the communications equipment provider’s stock worth $49,489,000 after acquiring an additional 606,522 shares in the last quarter. 95.54% of the stock is owned by institutional investors and hedge funds.

Viavi Solutions Trading Down 1.9 %

Shares of Viavi Solutions stock opened at $9.87 on Monday. The firm’s 50 day moving average is $9.18 and its 200 day moving average is $8.16. The firm has a market capitalization of $2.19 billion, a PE ratio of -58.06 and a beta of 0.90. Viavi Solutions has a 1 year low of $6.60 and a 1 year high of $11.32. 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 (NASDAQ:VIAV) last announced its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 during the quarter, compared to the consensus estimate of $240.09 million. During the same period in the prior year, the business earned $0.05 earnings per share. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. Equities research analysts forecast 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.