UBS Group Initiates Coverage on Viavi Solutions (NASDAQ:VIAV)

UBS Group started coverage on shares of Viavi Solutions (NASDAQ:VIAV) in a report issued on Tuesday morning, MarketBeat.com reports. The brokerage issued a neutral rating and a $10.60 price target on the communications equipment provider’s stock.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a report on Friday, November 1st. Northland Securities boosted their price target on shares of Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus cut their price target on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Rosenblatt Securities boosted their price target on shares of Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.44.

Viavi Solutions Stock Up 0.8 %

NASDAQ VIAV opened at $9.90 on Tuesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.71 and a quick ratio of 3.31. The company’s 50 day simple moving average is $9.27 and its 200 day simple moving average is $8.20. Viavi Solutions has a 12 month low of $6.60 and a 12 month high of $11.32. The company has a market capitalization of $2.20 billion, a P/E ratio of -58.24 and a beta of 0.90.

Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 EPS 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 business 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 business’s revenue for the quarter was down 3.9% on a year-over-year basis. Equities research analysts expect that Viavi Solutions will post 0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Paul Mcnab sold 5,920 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $8.45, for a total transaction of $50,024.00. Following the completion of the transaction, the executive vice president now directly owns 34,545 shares in the company, valued at $291,905.25. This represents a 14.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction 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 transaction, the director now owns 225,333 shares of the company’s stock, valued at approximately $2,284,876.62. The trade was a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,381 shares of company stock valued at $562,279 over the last ninety days. Corporate insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On Viavi Solutions

Several large investors have recently bought and sold shares of VIAV. ProShare Advisors LLC raised its stake in shares of Viavi Solutions by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 44,645 shares of the communications equipment provider’s stock valued at $406,000 after buying an additional 3,072 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Viavi Solutions by 127.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 204,786 shares of the communications equipment provider’s stock valued at $1,862,000 after buying an additional 114,822 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Viavi Solutions by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 29,148,414 shares of the communications equipment provider’s stock valued at $264,959,000 after buying an additional 408,484 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Viavi Solutions by 7.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 226,874 shares of the communications equipment provider’s stock valued at $2,058,000 after buying an additional 15,641 shares in the last quarter. Finally, MQS Management LLC acquired a new position in shares of Viavi Solutions in the 1st quarter valued at $251,000. 95.54% of the stock is currently owned by institutional investors and hedge funds.

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.