Viavi Solutions (NASDAQ:VIAV) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Viavi Solutions (NASDAQ:VIAV) in a research note released on Monday,Benzinga reports.

VIAV has been the topic of several other reports. Rosenblatt Securities increased their target price on Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research report on Friday, November 1st. StockNews.com raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Northland Securities raised their target price on shares of Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, UBS Group initiated coverage on shares of Viavi Solutions in a research report on Tuesday, November 19th. They set a “neutral” rating and a $10.60 price target for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Viavi Solutions presently has an average rating of “Hold” and a consensus target price of $10.44.

Viavi Solutions Stock Down 3.5 %

Shares of NASDAQ:VIAV opened at $10.15 on Monday. The stock’s fifty day simple moving average is $9.91 and its 200-day simple moving average is $8.59. Viavi Solutions has a 52-week low of $6.60 and a 52-week high of $11.49. The company has a market capitalization of $2.25 billion, a P/E ratio of -59.70 and a beta of 0.92. The company has a quick ratio of 3.31, a current ratio of 3.71 and a debt-to-equity ratio of 0.91.

Viavi Solutions (NASDAQ:VIAV) last announced its earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The firm 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 revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.05 earnings per share. As a group, equities research analysts forecast that Viavi Solutions will post 0.19 earnings per share for the current fiscal year.

Insider Activity at Viavi Solutions

In related news, Director Masood Jabbar sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $9.17, for a total transaction of $137,550.00. Following the transaction, the director now directly owns 213,514 shares of the company’s stock, valued at approximately $1,957,923.38. The trade was a 6.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Luke M. Scrivanich sold 2,802 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $10.43, for a total transaction of $29,224.86. Following the completion of the sale, the senior vice president now directly owns 54,517 shares of the company’s stock, valued at $568,612.31. This trade represents a 4.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,831 shares of company stock worth $345,712. Company insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in Viavi Solutions by 65.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,290,197 shares of the communications equipment provider’s stock worth $22,604,000 after buying an additional 1,298,394 shares during the period. Dimensional Fund Advisors LP grew its stake 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 acquiring an additional 661,450 shares in the last quarter. Westwood Holdings Group Inc. grew its stake 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 valued at $49,489,000 after acquiring an additional 606,522 shares in the last quarter. Leeward Investments LLC MA increased its position in shares of Viavi Solutions by 17.1% during the third quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider’s stock worth $15,385,000 after acquiring an additional 249,554 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Viavi Solutions by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,194,959 shares of the communications equipment provider’s stock worth $28,819,000 after acquiring an additional 217,399 shares in the last quarter. 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.