Viavi Solutions (NASDAQ:VIAV) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of Viavi Solutions (NASDAQ:VIAV) from a buy rating to a hold rating in a report published on Thursday.

A number of other research analysts have also commented on the stock. 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. Stifel Nicolaus cut their price target on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a report on Tuesday, August 6th. Rosenblatt Securities upped their target price on shares of Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research report on Friday, November 1st. B. Riley lowered their target price 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. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a research report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.44.

Viavi Solutions Price Performance

Shares of NASDAQ:VIAV opened at $9.94 on Thursday. 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 firm has a market capitalization of $2.20 billion, a P/E ratio of -58.47 and a beta of 0.90. Viavi Solutions has a 12 month low of $6.60 and a 12 month high of $11.32. The company’s fifty day moving average price is $9.50 and its 200 day moving average price is $8.32.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. The company had revenue of $238.20 million for the quarter, compared to analyst estimates 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 quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 earnings per share. As a group, sell-side analysts predict that Viavi Solutions will post 0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Paul Mcnab sold 5,920 shares of Viavi Solutions stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $8.45, for a total value of $50,024.00. Following the completion of the transaction, the executive vice president now directly owns 34,545 shares of the company’s stock, valued at approximately $291,905.25. The trade was a 14.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Masood Jabbar sold 15,000 shares of Viavi Solutions stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $8.20, for a total transaction of $123,000.00. Following the completion of the sale, the director now owns 228,514 shares in the company, valued at approximately $1,873,814.80. This represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 53,949 shares of company stock valued at $489,511 in the last ninety days. Corporate insiders own 1.52% of the company’s stock.

Institutional Trading of Viavi Solutions

Several hedge funds have recently bought and sold shares of VIAV. Bank of New York Mellon Corp lifted its position in Viavi Solutions by 65.2% in the 2nd 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 purchasing an additional 1,298,394 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Viavi Solutions by 12.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,818,337 shares of the communications equipment provider’s stock worth $39,972,000 after buying an additional 661,450 shares in the last quarter. Westwood Holdings Group Inc. raised its position in shares of Viavi Solutions by 9.2% during the 2nd quarter. Westwood Holdings Group Inc. now owns 7,203,703 shares of the communications equipment provider’s stock worth $49,489,000 after buying an additional 606,522 shares in the last quarter. Leeward Investments LLC MA grew its stake in shares of Viavi Solutions by 17.1% in the 3rd quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider’s stock worth $15,385,000 after purchasing an additional 249,554 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of 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 worth $28,819,000 after purchasing an additional 217,399 shares during the last quarter. 95.54% of the stock is currently owned by institutional investors.

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.