Viavi Solutions Inc (NASDAQ:VIAV) has received a consensus rating of “Buy” from the twelve ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $11.81.
VIAV has been the topic of several recent research reports. Zacks Investment Research upgraded Viavi Solutions from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Friday, March 23rd. ValuEngine lowered Viavi Solutions from a “hold” rating to a “sell” rating in a report on Friday, March 23rd. Rosenblatt Securities set a $13.00 target price on Viavi Solutions and gave the company a “buy” rating in a report on Wednesday, December 13th. Stifel Nicolaus upgraded Viavi Solutions from a “hold” rating to a “buy” rating and raised their target price for the company from $10.00 to $12.00 in a report on Friday, February 2nd. Finally, Loop Capital upgraded Viavi Solutions from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a report on Monday, February 5th.
In other news, VP Kevin Christopher Siebert sold 7,415 shares of Viavi Solutions stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $9.79, for a total value of $72,592.85. Following the transaction, the vice president now directly owns 17,360 shares in the company, valued at $169,954.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amar Maletira sold 15,299 shares of Viavi Solutions stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $10.06, for a total value of $153,907.94. Following the completion of the transaction, the chief financial officer now owns 164,671 shares in the company, valued at $1,656,590.26. The disclosure for this sale can be found here. Insiders sold 101,131 shares of company stock worth $986,485 over the last quarter. 0.59% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in VIAV. Hartford Investment Management Co. acquired a new stake in Viavi Solutions during the third quarter worth about $102,000. US Bancorp DE grew its position in Viavi Solutions by 635.8% during the fourth quarter. US Bancorp DE now owns 12,214 shares of the communications equipment provider’s stock worth $107,000 after buying an additional 10,554 shares in the last quarter. Commonwealth Equity Services Inc acquired a new stake in Viavi Solutions during the third quarter worth about $111,000. Zeke Capital Advisors LLC acquired a new stake in Viavi Solutions during the fourth quarter worth about $114,000. Finally, LMR Partners LLP acquired a new stake in Viavi Solutions during the fourth quarter worth about $195,000. 93.45% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ VIAV opened at $9.65 on Wednesday. Viavi Solutions has a fifty-two week low of $8.34 and a fifty-two week high of $11.89. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.06 and a current ratio of 2.18. The stock has a market cap of $2,180.17, a price-to-earnings ratio of 29.24, a P/E/G ratio of 1.46 and a beta of 0.95.
Viavi Solutions (NASDAQ:VIAV) last posted its earnings results on Thursday, February 1st. The communications equipment provider reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.02. Viavi Solutions had a return on equity of 9.60% and a net margin of 3.94%. The company had revenue of $201.80 million for the quarter, compared to analyst estimates of $185.80 million. During the same period last year, the company earned $0.10 earnings per share. The business’s revenue was down 2.3% compared to the same quarter last year. analysts anticipate that Viavi Solutions will post 0.33 earnings per share for the current fiscal year.
Viavi Solutions declared that its board has approved a share repurchase program on Thursday, February 15th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the communications equipment provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
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Viavi Solutions Company Profile
Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, and enterprises and their ecosystems worldwide. The company operates through Network Enablement, Service Enablement, and Optical Security and Performance Products segments. The Network Enablement segment offers testing solutions that access the network to perform build-out and maintenance tasks.
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