Viavi Solutions (NASDAQ:VIAV) Downgraded by Rosenblatt Securities to “Neutral”

Rosenblatt Securities lowered shares of Viavi Solutions (NASDAQ:VIAV) from a buy rating to a neutral rating in a report published on Wednesday morning, MarketBeat reports. Rosenblatt Securities currently has $8.25 price target on the communications equipment provider’s stock, down from their previous price target of $10.00.

A number of other research analysts have also recently issued reports on VIAV. Susquehanna cut Viavi Solutions from a positive rating to a neutral rating and set a $9.00 price objective for the company. in a report on Friday, May 3rd. Northland Securities lifted their price target on Viavi Solutions from $12.00 to $17.00 and gave the company an outperform rating in a report on Wednesday, March 6th. Needham & Company LLC reaffirmed a hold rating on shares of Viavi Solutions in a report on Friday, May 3rd. StockNews.com raised Viavi Solutions from a hold rating to a buy rating in a report on Friday, April 12th. Finally, Argus raised Viavi Solutions to a strong-buy rating in a report on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Viavi Solutions currently has an average rating of Moderate Buy and an average price target of $11.65.

Viavi Solutions Stock Down 6.2 %

Shares of VIAV stock opened at $6.66 on Wednesday. The stock has a market cap of $1.49 billion, a P/E ratio of -333.00 and a beta of 0.94. Viavi Solutions has a one year low of $6.63 and a one year high of $11.65. The stock has a fifty day moving average price of $7.58 and a 200 day moving average price of $8.90. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.81 and a quick ratio of 3.35.

Viavi Solutions (NASDAQ:VIAV) last issued its earnings results on Thursday, May 2nd. The communications equipment provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $246.00 million during the quarter, compared to the consensus estimate of $249.08 million. Viavi Solutions had a positive return on equity of 4.65% and a negative net margin of 0.42%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the business earned $0.02 earnings per share. Analysts predict that Viavi Solutions will post 0.12 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Paul Mcnab sold 4,762 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $7.35, for a total transaction of $35,000.70. Following the completion of the transaction, the executive vice president now directly owns 49,777 shares in the company, valued at approximately $365,860.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 14,985 shares of company stock worth $109,969 over the last three months. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Viavi Solutions

Several institutional investors have recently modified their holdings of VIAV. Sequoia Financial Advisors LLC lifted its holdings in shares of Viavi Solutions by 11.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 17,326 shares of the communications equipment provider’s stock valued at $157,000 after purchasing an additional 1,756 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Viavi Solutions by 3.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 56,643 shares of the communications equipment provider’s stock valued at $518,000 after purchasing an additional 2,047 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Viavi Solutions by 7.4% during the 4th quarter. Handelsbanken Fonder AB now owns 33,210 shares of the communications equipment provider’s stock valued at $334,000 after purchasing an additional 2,300 shares in the last quarter. First National Bank of Omaha lifted its holdings in shares of Viavi Solutions by 5.4% during the 4th quarter. First National Bank of Omaha now owns 51,146 shares of the communications equipment provider’s stock valued at $515,000 after purchasing an additional 2,633 shares in the last quarter. Finally, Texas Permanent School Fund Corp lifted its holdings in shares of Viavi Solutions by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 194,787 shares of the communications equipment provider’s stock valued at $1,771,000 after purchasing an additional 2,754 shares in the last quarter. 95.54% 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 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.