StockNews.com Downgrades Viavi Solutions (NASDAQ:VIAV) to Hold

Viavi Solutions (NASDAQ:VIAV) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

A number of other analysts have also recently weighed in on VIAV. B. Riley cut their price target on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research note on Friday. Rosenblatt Securities downgraded Viavi Solutions from a “buy” rating to a “neutral” rating and lowered their price target for the company from $10.00 to $8.25 in a report on Wednesday, June 26th. Susquehanna cut shares of Viavi Solutions from a “positive” rating to a “neutral” rating and set a $9.00 price objective on the stock. in a report on Friday, May 3rd. Finally, Stifel Nicolaus lowered their target price 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. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Viavi Solutions currently has an average rating of “Hold” and a consensus target price of $10.71.

Viavi Solutions Stock Up 3.3 %

Shares of NASDAQ:VIAV traded up $0.24 during trading hours on Monday, reaching $7.54. The stock had a trading volume of 1,791,945 shares, compared to its average volume of 1,875,005. Viavi Solutions has a 1 year low of $6.60 and a 1 year high of $11.32. The firm’s 50 day moving average is $7.42 and its 200-day moving average is $8.34. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -377.00 and a beta of 0.91. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.16 and a current ratio of 3.55.

Insider Activity

In related news, EVP Paul Mcnab sold 6,822 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $7.33, for a total transaction of $50,005.26. Following the completion of the sale, the executive vice president now owns 42,955 shares in the company, valued at approximately $314,860.15. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Viavi Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new position in Viavi Solutions in the 2nd quarter valued at $38,000. Headlands Technologies LLC purchased a new position in Viavi Solutions during the first quarter worth about $55,000. Summit Securities Group LLC acquired a new stake in Viavi Solutions in the second quarter valued at about $52,000. Park Avenue Securities LLC purchased a new stake in Viavi Solutions in the 1st quarter valued at approximately $99,000. Finally, Versor Investments LP acquired a new position in Viavi Solutions during the 4th quarter worth approximately $110,000. 95.54% of the stock is owned by hedge funds and other 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.