Viavi Solutions (NASDAQ:VIAV) Earns “Hold” Rating from Needham & Company LLC

Viavi Solutions (NASDAQ:VIAV)‘s stock had its “hold” rating reaffirmed by research analysts at Needham & Company LLC in a research report issued on Friday, Benzinga reports.

VIAV has been the subject of a number of other reports. B. Riley cut their target price on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a research report on Friday, August 9th. Rosenblatt Securities upped their target price on Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research report on Friday. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Finally, Stifel Nicolaus cut their price objective on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $10.42.

Viavi Solutions Stock Performance

Shares of VIAV stock opened at $9.86 on Friday. Viavi Solutions has a 12-month low of $6.60 and a 12-month high of $11.32. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -58.00 and a beta of 0.90. The business has a 50 day simple moving average of $8.81 and a 200 day simple moving average of $8.01. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.55 and a quick ratio of 3.16.

Viavi Solutions (NASDAQ:VIAV) last released its earnings results 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 firm had revenue of $238.20 million during the quarter, compared to the consensus estimate of $240.09 million. Viavi Solutions had a positive return on equity of 2.21% and a negative net margin of 3.78%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.05 earnings per share. On average, equities research analysts anticipate that Viavi Solutions will post 0.17 EPS for the current year.

Insider Activity

In other news, Director Masood Jabbar sold 15,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $9.17, for a total value of $137,550.00. Following the completion of the sale, the director now owns 213,514 shares in the company, valued at $1,957,923.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Paul Mcnab sold 7,324 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $7.52, for a total value of $55,076.48. Following the completion of the sale, the executive vice president now owns 35,631 shares in the company, valued at $267,945.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $9.17, for a total transaction of $137,550.00. Following the completion of the transaction, the director now directly owns 213,514 shares in the company, valued at $1,957,923.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,976 shares of company stock worth $720,562 over the last quarter. Corporate insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On Viavi Solutions

A number of hedge funds have recently modified their holdings of VIAV. Sequoia Financial Advisors LLC increased its stake in shares of Viavi Solutions by 11.3% in the first quarter. Sequoia Financial Advisors LLC now owns 17,326 shares of the communications equipment provider’s stock worth $157,000 after acquiring an additional 1,756 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in shares of Viavi Solutions by 423.6% in the first quarter. Mutual of America Capital Management LLC now owns 203,814 shares of the communications equipment provider’s stock worth $1,853,000 after acquiring an additional 164,889 shares during the last quarter. Essex Investment Management Co. LLC acquired a new position in shares of Viavi Solutions in the first quarter worth $1,916,000. Texas Permanent School Fund Corp increased its stake in shares of Viavi Solutions by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 194,787 shares of the communications equipment provider’s stock worth $1,771,000 after acquiring an additional 2,754 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in shares of Viavi Solutions by 26.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 26,804 shares of the communications equipment provider’s stock worth $244,000 after acquiring an additional 5,623 shares during the last quarter. 95.54% of the stock is 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.