Viavi Solutions (NASDAQ:VIAV) was upgraded by research analysts at TheStreet from a “c+” rating to a “b” rating in a research note issued to investors on Thursday, TheStreetRatingsTable reports.
A number of other brokerages have also recently commented on VIAV. JPMorgan Chase & Co. raised Viavi Solutions from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $12.00 to $13.00 in a research report on Monday, April 22nd. BidaskClub raised Viavi Solutions from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 price target on shares of Viavi Solutions in a research report on Friday. Zacks Investment Research cut Viavi Solutions from a “hold” rating to a “sell” rating in a research report on Friday, July 5th. Finally, Morgan Stanley set a $13.00 price target on Viavi Solutions and gave the stock a “hold” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $14.00.
VIAV stock opened at $13.77 on Thursday. Viavi Solutions has a fifty-two week low of $9.17 and a fifty-two week high of $14.95. The business’s 50 day moving average price is $14.22 and its two-hundred day moving average price is $13.08. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.86 and a current ratio of 3.19. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 26.48 and a beta of 0.98.
Viavi Solutions (NASDAQ:VIAV) last posted its earnings results on Thursday, August 15th. The communications equipment provider reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Viavi Solutions had a positive return on equity of 15.88% and a negative net margin of 3.25%. The firm had revenue of $289.70 million for the quarter, compared to the consensus estimate of $279.18 million. During the same quarter in the prior year, the business earned $0.14 EPS. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. Sell-side analysts forecast that Viavi Solutions will post 0.6 earnings per share for the current year.
In other news, CFO Amar Maletira sold 14,844 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $13.79, for a total value of $204,698.76. Following the sale, the chief financial officer now directly owns 254,526 shares of the company’s stock, valued at approximately $3,509,913.54. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 22,556 shares of company stock worth $307,093. Insiders own 0.50% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Viavi Solutions by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 24,589,402 shares of the communications equipment provider’s stock valued at $326,793,000 after acquiring an additional 288,080 shares in the last quarter. Renaissance Technologies LLC raised its stake in Viavi Solutions by 38.3% during the 2nd quarter. Renaissance Technologies LLC now owns 4,442,088 shares of the communications equipment provider’s stock valued at $59,035,000 after buying an additional 1,230,200 shares during the last quarter. Victory Capital Management Inc. raised its stake in Viavi Solutions by 1.9% during the 2nd quarter. Victory Capital Management Inc. now owns 3,693,891 shares of the communications equipment provider’s stock valued at $49,092,000 after buying an additional 69,329 shares during the last quarter. Clearbridge Investments LLC raised its stake in Viavi Solutions by 18.3% during the 1st quarter. Clearbridge Investments LLC now owns 3,423,335 shares of the communications equipment provider’s stock valued at $42,381,000 after buying an additional 530,681 shares during the last quarter. Finally, DNB Asset Management AS raised its stake in Viavi Solutions by 25.6% during the 2nd quarter. DNB Asset Management AS now owns 3,271,930 shares of the communications equipment provider’s stock valued at $43,484,000 after buying an additional 666,571 shares during the last quarter. 93.33% of the stock is currently owned by institutional investors and hedge funds.
About Viavi Solutions
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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