BidaskClub downgraded shares of Viavi Solutions (NASDAQ:VIAV) from a strong-buy rating to a buy rating in a report published on Wednesday.
Other analysts also recently issued reports about the stock. Stifel Nicolaus initiated coverage on shares of Viavi Solutions in a report on Monday, October 22nd. They issued a buy rating and a $14.00 target price on the stock. ValuEngine upgraded shares of Viavi Solutions from a hold rating to a buy rating in a report on Tuesday, October 2nd. Deutsche Bank upgraded shares of Viavi Solutions from a hold rating to a buy rating in a report on Monday, October 1st. William Blair reiterated a buy rating on shares of Viavi Solutions in a report on Wednesday, August 15th. Finally, B. Riley boosted their target price on shares of Viavi Solutions from $12.00 to $13.00 and gave the stock a buy rating in a report on Monday, August 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $11.99.
Shares of VIAV stock traded up $0.05 during midday trading on Wednesday, reaching $11.16. 3,531,926 shares of the company were exchanged, compared to its average volume of 2,662,915. Viavi Solutions has a 12 month low of $8.34 and a 12 month high of $12.82. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 26.88 and a beta of 0.87. The company has a current ratio of 2.39, a quick ratio of 2.18 and a debt-to-equity ratio of 0.79.
Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings results on Thursday, November 1st. The communications equipment provider reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. Viavi Solutions had a negative net margin of 5.92% and a positive return on equity of 12.72%. The company had revenue of $268.50 million for the quarter, compared to the consensus estimate of $268.73 million. During the same period in the previous year, the firm earned $0.11 EPS. Viavi Solutions’s revenue was up 40.6% on a year-over-year basis. On average, equities research analysts predict that Viavi Solutions will post 0.49 earnings per share for the current year.
In related news, SVP Gary W. Staley sold 4,927 shares of the business’s stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $12.55, for a total transaction of $61,833.85. Following the transaction, the senior vice president now directly owns 10,111 shares of the company’s stock, valued at $126,893.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paul Mcnab sold 57,668 shares of the business’s stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $12.56, for a total transaction of $724,310.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 117,495 shares of company stock worth $1,417,459. 0.50% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James & Associates purchased a new position in Viavi Solutions during the second quarter valued at approximately $109,000. Main Street Research LLC bought a new stake in Viavi Solutions in the third quarter worth approximately $121,000. Dynamic Technology Lab Private Ltd bought a new stake in Viavi Solutions in the first quarter worth approximately $173,000. Gateway Investment Advisers LLC bought a new stake in Viavi Solutions in the second quarter worth approximately $286,000. Finally, FNY Investment Advisers LLC bought a new stake in Viavi Solutions in the second quarter worth approximately $307,000. 90.59% of the stock is currently owned by hedge funds and other institutional investors.
Viavi Solutions Company Profile
Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military, and avionics customers worldwide. The company operates through Network Enablement, Service Enablement, and Optical Security and Performance Products segments.
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