Viavi Solutions’ (VIAV) “Hold” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Viavi Solutions (NASDAQ:VIAV) in a report released on Monday,Benzinga reports.

A number of other equities analysts have also commented on VIAV. UBS Group assumed coverage on shares of Viavi Solutions in a research report on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 price target on the stock. StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Rosenblatt Securities boosted their price objective on Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Northland Securities lifted their price target 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 issued a strong buy rating to the company. Based on data from MarketBeat, Viavi Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $10.66.

Viavi Solutions Stock Up 1.0 %

VIAV opened at $11.16 on Monday. The stock’s 50 day moving average price is $9.88 and its 200 day moving average price is $8.57. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.71 and a quick ratio of 3.31. The stock has a market cap of $2.48 billion, a P/E ratio of -65.65 and a beta of 0.92. Viavi Solutions has a 12 month low of $6.60 and a 12 month high of $11.49.

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. The firm had revenue of $238.20 million for 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%. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 earnings per share. As a group, research analysts predict that Viavi Solutions will post 0.19 earnings per share for the current year.

Insider Buying and Selling at Viavi Solutions

In related news, SVP Luke M. Scrivanich sold 2,802 shares of Viavi Solutions 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 completion of the transaction, the senior vice president now owns 54,517 shares in the company, valued at approximately $568,612.31. This trade represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Masood Jabbar sold 15,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 213,514 shares in the company, valued at $1,957,923.38. The trade was a 6.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,831 shares of company stock valued at $345,712 in the last 90 days. 1.52% of the stock is currently owned by company insiders.

Institutional Trading of Viavi Solutions

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its stake in 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 worth $375,000 after purchasing an additional 41,149 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Viavi Solutions by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock valued at $772,000 after buying an additional 2,100 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Viavi Solutions by 65.2% in the second quarter. Bank of New York Mellon Corp now owns 3,290,197 shares of the communications equipment provider’s stock valued at $22,604,000 after buying an additional 1,298,394 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Viavi Solutions in the second quarter valued at approximately $52,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Viavi Solutions by 20.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 54,718 shares of the communications equipment provider’s stock worth $376,000 after buying an additional 9,380 shares in the last quarter. 95.54% of the stock is currently owned by institutional investors.

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.