Viavi Solutions (NASDAQ:VIAV) Stock Rating Lowered by StockNews.com

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

Several other research firms have also issued reports on VIAV. Stifel Nicolaus dropped their target price on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a report on Friday, November 1st. Rosenblatt Securities boosted their target price on shares of Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a report on Friday, November 1st. B. Riley dropped their price target on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Finally, Northland Securities lifted their price objective on shares of Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $10.44.

Viavi Solutions Trading Up 0.6 %

NASDAQ:VIAV opened at $9.94 on Thursday. The company has a market cap of $2.20 billion, a P/E ratio of -58.11 and a beta of 0.90. Viavi Solutions has a twelve month low of $6.60 and a twelve month high of $11.32. The business has a 50 day moving average price of $9.47 and a two-hundred day moving average price of $8.31. The company has a quick ratio of 3.31, a current ratio of 3.71 and a debt-to-equity ratio of 0.91.

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 negative net margin of 3.78% and a positive return on equity of 2.22%. The business had revenue of $238.20 million during the quarter, compared to analysts’ expectations of $240.09 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The firm’s revenue was down 3.9% on a year-over-year basis. As a group, analysts expect that Viavi Solutions will post 0.19 EPS for the current fiscal year.

Insider Activity

In related news, SVP Luke M. Scrivanich sold 3,029 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $8.86, for a total value of $26,836.94. Following the completion of the sale, the senior vice president now directly owns 57,319 shares in the company, valued at $507,846.34. The trade was a 5.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $8.20, for a total value of $123,000.00. Following the completion of the transaction, the director now directly owns 228,514 shares in the company, valued at approximately $1,873,814.80. This represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,949 shares of company stock valued at $489,511 over the last ninety days. 1.52% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viavi Solutions

A number of institutional investors have recently modified their holdings of VIAV. Sanctuary Advisors LLC increased its position in Viavi Solutions by 44.1% during 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 during the period. Geode Capital Management LLC raised its position in shares of Viavi Solutions by 1.0% in the third quarter. Geode Capital Management LLC now owns 5,307,974 shares of the communications equipment provider’s stock valued at $47,887,000 after buying an additional 54,633 shares in the last quarter. Barclays PLC boosted its stake in shares of Viavi Solutions by 4.4% in the third quarter. Barclays PLC now owns 538,261 shares of the communications equipment provider’s stock valued at $4,856,000 after buying an additional 22,893 shares during the period. MML Investors Services LLC grew its position in Viavi Solutions by 34.3% during the third quarter. MML Investors Services LLC now owns 37,480 shares of the communications equipment provider’s stock worth $338,000 after buying an additional 9,580 shares in the last quarter. Finally, Dean Investment Associates LLC increased its stake in Viavi Solutions by 189.6% during the 3rd quarter. Dean Investment Associates LLC now owns 280,239 shares of the communications equipment provider’s stock worth $2,528,000 after acquiring an additional 183,481 shares during the period. Institutional investors own 95.54% of the company’s stock.

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.