Viavi Solutions (NASDAQ:VIAV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Viavi Solutions Inc. provides software and hardware platforms and instruments for telecommunications service providers, wireless operators, cable operators, network-equipment manufacturers and enterprises. The Company offers installation, commissioning, scripting, custom analytics, integration, business intelligence consulting, operational assistance, field and lab testing, technical training, maintenance, and support services. Its operating segment consists of Network and Service Enablement, Communications and Commercial Optical Products and Optical Security and Performance Products. Viavi Solutions Inc., formerly known as JDS Uniphase Corporation, is based in Milpitas, Calif. “
A number of other research analysts also recently weighed in on VIAV. Argus raised shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $9.92 target price for the company in a research report on Tuesday, May 8th. JPMorgan Chase began coverage on shares of Viavi Solutions in a research report on Thursday, May 3rd. They issued an “underweight” rating and a $10.00 target price for the company. Stifel Nicolaus raised shares of 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 research report on Friday, February 2nd. BidaskClub raised shares of Viavi Solutions from a “strong sell” rating to a “sell” rating in a research report on Monday, February 5th. Finally, Morgan Stanley raised their target price on shares of Viavi Solutions from $9.00 to $10.50 and gave the company an “equal weight” rating in a research report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $11.16.
Viavi Solutions stock traded up $0.05 during mid-day trading on Tuesday, reaching $10.21. The company’s stock had a trading volume of 61,427 shares, compared to its average volume of 2,421,051. The company has a market cap of $2.28 billion, a P/E ratio of 40.88, a price-to-earnings-growth ratio of 1.48 and a beta of 0.96. Viavi Solutions has a 12 month low of $8.34 and a 12 month high of $11.78. The company has a current ratio of 1.58, a quick ratio of 1.43 and a debt-to-equity ratio of 0.48.
Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Thursday, May 3rd. The communications equipment provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. The business had revenue of $219.40 million during the quarter, compared to the consensus estimate of $208.00 million. Viavi Solutions had a negative net margin of 0.43% and a positive return on equity of 10.74%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 earnings per share. equities research analysts forecast that Viavi Solutions will post 0.34 EPS for the current year.
Viavi Solutions announced that its Board of Directors has approved a share repurchase plan on Thursday, February 15th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the communications equipment provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, SVP Ralph Rondinone sold 10,087 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $9.81, for a total transaction of $98,953.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amar Maletira sold 15,299 shares of the firm’s stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $10.06, for a total transaction of $153,907.94. Following the sale, the chief financial officer now owns 164,671 shares of the company’s stock, valued at approximately $1,656,590.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 87,134 shares of company stock valued at $856,012. Corporate insiders own 0.59% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Koch Industries Inc. acquired a new stake in shares of Viavi Solutions during the 1st quarter worth about $104,000. US Bancorp DE lifted its stake in shares of Viavi Solutions by 635.8% during the 4th 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 during the last quarter. Zeke Capital Advisors LLC acquired a new stake in shares of Viavi Solutions during the 4th quarter worth about $114,000. Element Capital Management LLC acquired a new stake in shares of Viavi Solutions during the 1st quarter worth about $139,000. Finally, LMR Partners LLP acquired a new stake in shares of Viavi Solutions during the 4th quarter worth about $195,000. Institutional investors own 90.84% of the company’s stock.
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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