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

StockNews.com upgraded shares of Viavi Solutions (NASDAQ:VIAV) from a hold rating to a buy rating in a research report sent to investors on Monday.

A number of other research firms also recently commented on VIAV. Rosenblatt Securities upped their price objective on shares of Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research note on Friday, November 1st. UBS Group assumed coverage on shares of Viavi Solutions in a research report on Tuesday, November 19th. They set a “neutral” rating and a $10.60 price target for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research note on Monday. Stifel Nicolaus boosted their price objective on shares of Viavi Solutions from $10.50 to $12.00 and gave the company a “buy” rating in a research note on Monday. Finally, Northland Securities increased their target price on Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.66.

Viavi Solutions Stock Performance

NASDAQ VIAV opened at $11.16 on Monday. 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 fifty-two week low of $6.60 and a fifty-two week high of $11.49. The business has a fifty day moving average of $9.88 and a 200-day moving average of $8.57. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of -65.65 and a beta of 0.92.

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

Insider Activity at Viavi Solutions

In related news, SVP Luke M. Scrivanich sold 2,802 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $10.43, for a total transaction of $29,224.86. Following the sale, the senior vice president now directly owns 54,517 shares in the company, valued at approximately $568,612.31. This trade represents a 4.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Masood Jabbar sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $10.14, for a total value of $152,100.00. Following the transaction, the director now directly owns 225,333 shares in the company, valued at $2,284,876.62. This trade represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,831 shares of company stock worth $345,712. 1.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Viavi Solutions

A number of large investors have recently added to or reduced their stakes in VIAV. Capital Performance Advisors LLP purchased a new position in Viavi Solutions in the 3rd quarter valued at about $25,000. Innealta Capital LLC acquired a new position in shares of Viavi Solutions in the second quarter worth about $38,000. Quarry LP boosted its holdings in Viavi Solutions by 419.7% in the second quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock valued at $50,000 after purchasing an additional 5,838 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Viavi Solutions during the 2nd quarter valued at approximately $52,000. Finally, Sanctuary Advisors LLC purchased a new stake in Viavi Solutions during the 2nd quarter worth approximately $76,000. 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.