Viavi Solutions (NASDAQ:VIAV) Raised to Buy at StockNews.com

Viavi Solutions (NASDAQ:VIAV) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

VIAV has been the topic of a number of other research reports. Rosenblatt Securities raised their price objective on Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research report on Friday, November 1st. UBS Group started coverage on Viavi Solutions in a report on Tuesday, November 19th. They set a “neutral” rating and a $10.60 price objective for the company. Stifel Nicolaus boosted their target price on Viavi Solutions from $10.50 to $12.00 and gave the stock a “buy” rating in a research note on Monday. Northland Securities increased their price target on Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research note on Monday. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Viavi Solutions has a consensus rating of “Hold” and an average price target of $10.44.

Viavi Solutions Stock Performance

Shares of VIAV stock opened at $10.52 on Monday. Viavi Solutions has a one year low of $6.60 and a one year high of $11.49. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.71 and a quick ratio of 3.31. The business’s 50 day simple moving average is $9.88 and its 200 day simple moving average is $8.57. The stock has a market capitalization of $2.33 billion, a PE ratio of -61.88 and a beta of 0.92.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. The company had revenue of $238.20 million for the quarter, compared to analyst estimates of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.05 EPS. As a group, research analysts forecast that Viavi Solutions will post 0.19 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Luke M. Scrivanich sold 3,029 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $8.86, for a total transaction of $26,836.94. Following the transaction, the senior vice president now owns 57,319 shares of the company’s stock, valued at approximately $507,846.34. This represents a 5.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Masood Jabbar sold 15,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $9.17, for a total value of $137,550.00. Following the transaction, the director now owns 213,514 shares of the company’s stock, valued at $1,957,923.38. This trade represents a 6.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 35,831 shares of company stock worth $345,712. Corporate insiders own 1.52% of the company’s stock.

Institutional Trading of Viavi Solutions

Several hedge funds have recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new stake in Viavi Solutions during the 3rd quarter worth about $25,000. Innealta Capital LLC acquired a new position in shares of Viavi Solutions during the second quarter worth about $38,000. Quarry LP grew its position in shares of Viavi Solutions by 419.7% during the second quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock worth $50,000 after buying an additional 5,838 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Viavi Solutions during the second quarter worth approximately $52,000. Finally, Sanctuary Advisors LLC acquired a new stake in Viavi Solutions in the second quarter valued at approximately $76,000. Institutional investors and hedge funds own 95.54% of the company’s stock.

Viavi Solutions Company Profile

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.