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

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

VIAV has been the subject of a number of other reports. UBS Group started coverage on shares of Viavi Solutions in a research report on Tuesday, November 19th. They set a “neutral” rating and a $10.60 target price for the company. B. Riley dropped their price objective on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Northland Securities boosted their target price 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. Rosenblatt Securities raised their price target on shares of Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a research report on Friday, November 1st. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Viavi Solutions presently has a consensus rating of “Hold” and a consensus price target of $10.44.

Viavi Solutions Trading Down 3.0 %

Shares of Viavi Solutions stock opened at $9.88 on Thursday. The firm’s 50 day simple moving average is $9.45 and its two-hundred day simple moving average is $8.29. Viavi Solutions has a 12-month low of $6.60 and a 12-month 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 issued 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 company had revenue of $238.20 million during the quarter, compared to analyst estimates of $240.09 million. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the business posted $0.05 EPS. As a group, analysts expect that Viavi Solutions will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Luke M. Scrivanich sold 3,029 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $8.86, for a total transaction of $26,836.94. Following the completion of the sale, the senior vice president now directly owns 57,319 shares in the company, valued at approximately $507,846.34. The trade was a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Masood Jabbar sold 15,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $10.14, for a total value of $152,100.00. Following the completion of the transaction, the director now owns 225,333 shares in the company, valued at $2,284,876.62. The trade was a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 53,949 shares of company stock worth $489,511 in the last 90 days. Insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On Viavi Solutions

Large investors have recently modified their holdings of the business. Sanctuary Advisors LLC boosted its position in Viavi Solutions by 44.1% during the third quarter. Sanctuary Advisors LLC now owns 15,938 shares of the communications equipment provider’s stock worth $144,000 after acquiring an additional 4,875 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Viavi Solutions by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 5,307,974 shares of the communications equipment provider’s stock worth $47,887,000 after purchasing an additional 54,633 shares during the last quarter. Barclays PLC boosted its holdings in shares of Viavi Solutions by 4.4% during the 3rd quarter. Barclays PLC now owns 538,261 shares of the communications equipment provider’s stock worth $4,856,000 after purchasing an additional 22,893 shares during the last quarter. MML Investors Services LLC grew its position in shares of Viavi Solutions by 34.3% in the third quarter. MML Investors Services LLC now owns 37,480 shares of the communications equipment provider’s stock valued at $338,000 after purchasing an additional 9,580 shares in the last quarter. Finally, Dean Investment Associates LLC boosted its stake in Viavi Solutions by 189.6% during the third quarter. Dean Investment Associates LLC now owns 280,239 shares of the communications equipment provider’s stock worth $2,528,000 after buying an additional 183,481 shares during the last quarter. Hedge funds and other institutional investors own 95.54% of the company’s stock.

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.