Viavi Solutions (NASDAQ:VIAV) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Viavi Solutions (NASDAQ:VIAV) from a hold rating to a buy rating in a report issued on Tuesday.

Several other brokerages also recently weighed in on VIAV. Northland Securities upped their target price on Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a report on Friday, November 1st. Rosenblatt Securities lifted their price objective on shares of Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research note on Friday, November 1st. Stifel Nicolaus reduced their target price on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Finally, B. Riley lowered their price target on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a report on Friday, August 9th. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.42.

Viavi Solutions Stock Down 1.7 %

Shares of NASDAQ:VIAV opened at $10.06 on Tuesday. The stock has a 50-day simple moving average of $9.14 and a 200-day simple moving average of $8.15. The stock has a market capitalization of $2.23 billion, a P/E ratio of -59.18 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 debt-to-equity ratio of 0.91, a quick ratio of 3.31 and a current ratio of 3.71.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data 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. The company had revenue of $238.20 million during 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%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.05 earnings per share. Equities analysts forecast that Viavi Solutions will post 0.19 earnings per share for the current year.

Insider Buying and Selling at Viavi Solutions

In related news, Director Masood Jabbar sold 15,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $10.14, for a total transaction of $152,100.00. Following the transaction, the director now directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kevin Christopher Siebert sold 8,432 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $8.63, for a total transaction of $72,768.16. Following the sale, the senior vice president now owns 56,617 shares of the company’s stock, valued at approximately $488,604.71. The trade was a 12.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,652 shares of company stock worth $817,585 in the last ninety days. 1.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of VIAV. Louisiana State Employees Retirement System lifted its holdings in Viavi Solutions by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock worth $772,000 after acquiring an additional 2,100 shares during the last quarter. nVerses Capital LLC raised its position in shares of Viavi Solutions by 24.0% during the 3rd quarter. nVerses Capital LLC now owns 11,900 shares of the communications equipment provider’s stock worth $107,000 after purchasing an additional 2,300 shares during the period. Texas Permanent School Fund Corp boosted its position in Viavi Solutions by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 194,787 shares of the communications equipment provider’s stock valued at $1,771,000 after purchasing an additional 2,754 shares during the period. Capital Performance Advisors LLP bought a new position in Viavi Solutions during the 3rd quarter worth $25,000. Finally, QRG Capital Management Inc. increased its position in Viavi Solutions by 15.6% in the first quarter. QRG Capital Management Inc. now owns 21,340 shares of the communications equipment provider’s stock worth $194,000 after buying an additional 2,883 shares during the period. 95.54% of the stock is 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.