BidaskClub upgraded shares of Viavi Solutions (NASDAQ:VIAV) from a hold rating to a buy rating in a research report released on Thursday morning.
Other analysts have also issued research reports about the stock. Argus upgraded shares of Viavi Solutions from a hold rating to a buy rating and set a $9.92 price objective on the stock in a research note on Tuesday, May 8th. Zacks Investment Research upgraded shares of Viavi Solutions from a hold rating to a buy rating and set a $11.00 price target on the stock in a research report on Friday, March 23rd. William Blair restated a buy rating on shares of Viavi Solutions in a research report on Thursday, May 24th. Deutsche Bank began coverage on shares of Viavi Solutions in a research report on Thursday, June 7th. They set a hold rating and a $10.50 price target on the stock. Finally, ValuEngine lowered shares of Viavi Solutions from a hold rating to a sell rating in a research report on Friday, March 23rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $11.09.
NASDAQ:VIAV opened at $10.24 on Thursday. The firm has a market capitalization of $2.29 billion, a PE ratio of 40.96, a price-to-earnings-growth ratio of 1.53 and a beta of 0.96. Viavi Solutions has a 1-year low of $8.34 and a 1-year high of $11.54. 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 quarterly earnings data on Thursday, May 3rd. The communications equipment provider reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.04. The firm had revenue of $219.40 million for the quarter, compared to analyst estimates of $208.00 million. Viavi Solutions had a negative net margin of 0.43% and a positive return on equity of 10.74%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 earnings per share. research analysts predict that Viavi Solutions will post 0.33 EPS for the current fiscal year.
In related news, CFO Amar Maletira sold 4,500 shares of the firm’s stock in a transaction on Thursday, April 12th. The shares were sold at an average price of $10.25, for a total transaction of $46,125.00. Following the sale, the chief financial officer now owns 150,022 shares in the company, valued at $1,537,725.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 7,203 shares of company stock worth $73,371. 0.59% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE grew its position in shares of Viavi Solutions by 635.8% in the fourth quarter. US Bancorp DE now owns 12,214 shares of the communications equipment provider’s stock valued at $107,000 after purchasing an additional 10,554 shares during the period. Zeke Capital Advisors LLC acquired a new stake in shares of Viavi Solutions in the fourth quarter valued at about $114,000. HBK Investments L P grew its position in shares of Viavi Solutions by 58.2% in the fourth quarter. HBK Investments L P now owns 234,030 shares of the communications equipment provider’s stock valued at $2,045,000 after purchasing an additional 86,130 shares during the period. Macquarie Group Ltd. grew its position in shares of Viavi Solutions by 41.8% in the fourth quarter. Macquarie Group Ltd. now owns 2,778,792 shares of the communications equipment provider’s stock valued at $24,287,000 after purchasing an additional 818,770 shares during the period. Finally, Adi Capital Management LLC grew its position in shares of Viavi Solutions by 24.2% in the fourth quarter. Adi Capital Management LLC now owns 1,972,708 shares of the communications equipment provider’s stock valued at $17,241,000 after purchasing an additional 383,888 shares during the period. Institutional investors and hedge funds own 92.13% 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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