Viavi Solutions (NASDAQ:VIAV) Stock Rating Upgraded by Zacks Research

Viavi Solutions (NASDAQ:VIAV) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday, Zacks reports.

Several other brokerages have also weighed in on VIAV. B. Riley Financial decreased their price objective on Viavi Solutions from $63.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Needham & Company LLC lowered their price target on Viavi Solutions from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, November 5th. Wall Street Zen upgraded shares of Viavi Solutions from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 7th. UBS Group lowered their price objective on shares of Viavi Solutions from $44.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, November 5th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $70.00 price target on shares of Viavi Solutions in a research note on Wednesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.83.

Viavi Solutions Trading Down 5.6%

VIAV traded down $1.82 during trading on Thursday, reaching $30.72. 5,109,325 shares of the stock traded hands, compared to its average volume of 6,828,286. The stock’s 50-day moving average is $36.34 and its 200 day moving average is $38.94. Viavi Solutions has a 12 month low of $15.51 and a 12 month high of $60.43. The stock has a market capitalization of $7.55 billion, a PE ratio of 128.01, a P/E/G ratio of 1.47 and a beta of 1.31. The company has a quick ratio of 1.40, a current ratio of 1.65 and a debt-to-equity ratio of 0.30.

Viavi Solutions (NASDAQ:VIAV) last issued its earnings results on Wednesday, November 4th. The communications equipment provider reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The business had revenue of $469.30 million during the quarter, compared to analyst estimates of $455.06 million. Viavi Solutions had a return on equity of 25.36% and a net margin of 3.97%. The firm’s revenue was up 56.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 EPS. Equities analysts anticipate that Viavi Solutions will post 1.84 earnings per share for the current year.

Insider Activity

In other Viavi Solutions news, Director Laura Black sold 71,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $46.12, for a total transaction of $3,274,520.00. Following the sale, the director owned 71,497 shares of the company’s stock, valued at approximately $3,297,441.64. The trade was a 49.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Paul McNab sold 13,806 shares of the company’s stock in a transaction on Thursday, November 12th. The shares were sold at an average price of $32.12, for a total transaction of $443,448.72. Following the completion of the sale, the executive vice president directly owned 46,026 shares in the company, valued at approximately $1,478,355.12. The trade was a 23.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 211,905 shares of company stock valued at $8,360,077 in the last ninety days. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Viavi Solutions

A number of institutional investors and hedge funds have recently modified their holdings of VIAV. BlackRock Inc. acquired a new stake in Viavi Solutions in the 2nd quarter valued at about $1,228,529,000. Assenagon Asset Management S.A. boosted its position in shares of Viavi Solutions by 1,402.9% in the third quarter. Assenagon Asset Management S.A. now owns 5,639,752 shares of the communications equipment provider’s stock worth $236,418,000 after buying an additional 5,264,496 shares during the period. Granahan Investment Management LLC purchased a new position in Viavi Solutions during the 1st quarter valued at about $3,187,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Viavi Solutions in the 1st quarter valued at approximately $3,048,000. Finally, Ma Investment Partnership LP boosted its position in Viavi Solutions by 150.0% during the first quarter. Ma Investment Partnership LP now owns 500,000 shares of the communications equipment provider’s stock valued at $16,640,000 after purchasing an additional 300,000 shares during the last quarter. Institutional investors and hedge funds own 95.54% of the company’s stock.

Top Viavi Solutions Stories

Here are a few of the latest stories about VIAV:

• Positive Sentiment: Viavi was upgraded to Zacks Rank #1 (Strong Buy), reflecting improving earnings expectations. Viavi Solutions upgraded to Strong Buy
• Positive Sentiment: Recent coverage highlights a quarterly earnings beat, an upbeat Q2 outlook and growing data-center opportunities, supported by demand for optical testing. Analysts have also raised earnings estimates, adding to the growth case. Q1 results and Q2 outlook
• Negative Sentiment: Despite strong reported growth, Viavi’s shares had fallen 11.6% over the past month, and coverage flags valuation and execution risks as potential constraints on the stock. Growth and valuation risks

Viavi Solutions Company Profile

Viavi Solutions Inc. develops testing, monitoring and assurance solutions for communications networks. Its products and software help service providers, equipment makers and enterprises build, maintain and troubleshoot fiber-optic, broadband, wireless and other network infrastructure, including technologies used in 5G and data centers. The company also makes optical technologies and security products, including features used to authenticate banknotes, identity documents and branded goods. These offerings support applications in areas such as anti-counterfeiting, document security and optical coatings.