Viavi Solutions Inc. (NASDAQ:VIAV) Given Consensus Recommendation of “Hold” by Brokerages

Viavi Solutions Inc. (NASDAQ:VIAV) has received an average rating of “Hold” from the nine brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $10.44.

A number of analysts have recently weighed in on VIAV shares. Rosenblatt Securities raised their target price on Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research note on Friday, November 1st. StockNews.com cut shares of Viavi Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Northland Securities boosted their target price on shares of Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. UBS Group assumed coverage on shares of Viavi Solutions in a research note on Tuesday, November 19th. They set a “neutral” rating and a $10.60 price target on the stock. Finally, Morgan Stanley restated an “underweight” rating and issued a $9.50 price objective (up previously from $8.00) on shares of Viavi Solutions in a research report on Tuesday, December 17th.

Viavi Solutions Price Performance

NASDAQ:VIAV opened at $10.08 on Tuesday. The company has a quick ratio of 3.31, a current ratio of 3.71 and a debt-to-equity ratio of 0.91. The firm has a market cap of $2.24 billion, a PE ratio of -59.29 and a beta of 0.92. Viavi Solutions has a 12 month low of $6.60 and a 12 month high of $11.49. The company’s 50-day moving average price is $10.08 and its two-hundred day moving average price is $8.75.

Viavi Solutions (NASDAQ:VIAV) last announced its earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The business had revenue of $238.20 million for the quarter, compared to the consensus estimate of $240.09 million. During the same period in the previous year, the business earned $0.05 EPS. Viavi Solutions’s revenue was down 3.9% compared to the same quarter last year. On average, equities analysts anticipate that Viavi Solutions will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Masood Jabbar sold 15,000 shares of Viavi Solutions stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $10.14, for a total transaction of $152,100.00. Following the completion of the sale, the director now directly owns 225,333 shares of the company’s stock, valued at $2,284,876.62. The trade was a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Luke M. Scrivanich sold 2,802 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $10.43, for a total value of $29,224.86. Following the completion of the sale, the senior vice president now owns 54,517 shares of the company’s stock, valued at $568,612.31. This represents a 4.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,802 shares of company stock valued at $318,875 over the last ninety days. Insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of VIAV. nVerses Capital LLC raised its holdings in Viavi Solutions by 24.0% in the third quarter. nVerses Capital LLC now owns 11,900 shares of the communications equipment provider’s stock worth $107,000 after purchasing an additional 2,300 shares during the period. Capital Performance Advisors LLP acquired a new stake in Viavi Solutions during the 3rd quarter worth $25,000. KBC Group NV lifted its holdings in Viavi Solutions by 53.0% during the third quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock worth $85,000 after acquiring an additional 3,252 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Viavi Solutions by 7.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,761 shares of the communications equipment provider’s stock valued at $530,000 after acquiring an additional 4,043 shares during the period. Finally, Sanctuary Advisors LLC increased its holdings in shares of Viavi Solutions by 44.1% in the third quarter. Sanctuary Advisors LLC now owns 15,938 shares of the communications equipment provider’s stock worth $144,000 after acquiring an additional 4,875 shares in the last quarter. Institutional investors and hedge funds own 95.54% of the company’s stock.

About Viavi Solutions

Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.