Viavi Solutions (NASDAQ:VIAV) Lifted to “Buy” at StockNews.com

Viavi Solutions (NASDAQ:VIAV) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research note on Friday, August 9th. Rosenblatt Securities cut Viavi Solutions from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $10.00 to $8.25 in a research note on Wednesday, June 26th. B. Riley reduced their target price on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a research note on Friday, August 9th. Finally, Stifel Nicolaus decreased their price target on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.71.

Viavi Solutions Stock Up 2.3 %

Shares of VIAV traded up $0.18 during midday trading on Tuesday, hitting $8.15. The company had a trading volume of 1,338,300 shares, compared to its average volume of 1,827,774. Viavi Solutions has a 52 week low of $6.60 and a 52 week high of $11.32. The company’s 50 day moving average price is $7.80 and its 200 day moving average price is $8.14. The company has a quick ratio of 3.16, a current ratio of 3.55 and a debt-to-equity ratio of 0.93. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of -407.50 and a beta of 0.91.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The business had revenue of $252.00 million for the quarter, compared to analysts’ expectations of $251.83 million. Viavi Solutions had a negative net margin of 2.58% and a positive return on equity of 3.81%. On average, equities research analysts predict that Viavi Solutions will post 0.17 EPS for the current year.

Insider Activity

In other Viavi Solutions news, EVP Paul Mcnab sold 7,324 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $7.52, for a total value of $55,076.48. Following the sale, the executive vice president now owns 35,631 shares of the company’s stock, valued at approximately $267,945.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Masood Jabbar sold 30,000 shares of Viavi Solutions stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $8.17, for a total transaction of $245,100.00. Following the completion of the transaction, the director now directly owns 243,514 shares of the company’s stock, valued at $1,989,509.38. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Paul Mcnab sold 7,324 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $7.52, for a total transaction of $55,076.48. Following the completion of the sale, the executive vice president now owns 35,631 shares in the company, valued at $267,945.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,027 shares of company stock valued at $383,151. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viavi Solutions

Several hedge funds have recently modified their holdings of VIAV. Vanguard Group Inc. raised its holdings in shares of Viavi Solutions by 1.4% during the first 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 during the last quarter. Wellington Management Group LLP raised its stake in shares of Viavi Solutions by 4.0% during the 4th quarter. Wellington Management Group LLP now owns 16,563,670 shares of the communications equipment provider’s stock worth $166,796,000 after purchasing an additional 638,309 shares in the last quarter. Capital World Investors increased its holdings in shares of Viavi Solutions by 305.4% during the 1st quarter. Capital World Investors now owns 12,161,535 shares of the communications equipment provider’s stock valued at $110,548,000 after acquiring an additional 9,161,535 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in 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 valued at $49,489,000 after purchasing an additional 606,522 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in 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 worth $39,972,000 after buying an additional 661,450 shares in the last quarter. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

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.