Viavi Solutions (NASDAQ:VIAV) Upgraded by StockNews.com to “Buy” Rating

Viavi Solutions (NASDAQ:VIAV) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

Other research analysts have also issued research reports about the company. Rosenblatt Securities increased their target price on Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research report on Friday, November 1st. B. Riley decreased their price objective on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Friday, August 9th. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a research report on Friday, November 1st. Northland Securities upped their price target on shares of Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, UBS Group started coverage on shares of Viavi Solutions in a research note on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 price target on the stock. Six research 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $10.44.

Viavi Solutions Stock Performance

Shares of NASDAQ:VIAV opened at $10.39 on Friday. 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 has a 52-week low of $6.60 and a 52-week high of $11.32. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of -61.11 and a beta of 0.92. The business has a 50-day moving average price of $9.64 and a 200-day moving average price of $8.40.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $238.20 million during the quarter, compared to analysts’ expectations of $240.09 million. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. Viavi Solutions’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the business earned $0.05 earnings per share. Equities analysts predict that Viavi Solutions will post 0.19 EPS for the current year.

Insider Activity

In other Viavi Solutions news, Director Masood Jabbar sold 15,000 shares of Viavi Solutions stock in a transaction dated Monday, September 16th. The stock was 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 of the company’s stock, valued at $1,873,814.80. The trade was a 6.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Paul Mcnab sold 5,920 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $8.45, for a total transaction of $50,024.00. Following the sale, the executive vice president now directly owns 34,545 shares in the company, valued at $291,905.25. This represents a 14.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,949 shares of company stock valued at $489,511 in the last quarter. Insiders own 1.52% of the company’s stock.

Institutional Trading of Viavi Solutions

Hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Viavi Solutions by 5.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 158,829 shares of the communications equipment provider’s stock worth $1,445,000 after buying an additional 7,796 shares during the period. SG Americas Securities LLC increased its position in shares of Viavi Solutions by 306.7% in the 2nd quarter. SG Americas Securities LLC now owns 54,567 shares of the communications equipment provider’s stock valued at $375,000 after purchasing an additional 41,149 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Viavi Solutions by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock valued at $772,000 after purchasing an additional 2,100 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Viavi Solutions by 65.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,290,197 shares of the communications equipment provider’s stock worth $22,604,000 after purchasing an additional 1,298,394 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new position in shares of Viavi Solutions during the second quarter worth $52,000. 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.