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

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

Several other research analysts have also recently commented on the company. Northland Securities raised 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. Rosenblatt Securities raised their price objective 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. Stifel Nicolaus lifted their target price on shares of Viavi Solutions from $10.50 to $12.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a research report on Monday, December 16th. Finally, UBS Group began coverage on Viavi Solutions in a report on Tuesday, November 19th. They set a “neutral” rating and a $10.60 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Viavi Solutions currently has a consensus rating of “Hold” and a consensus target price of $10.44.

Viavi Solutions Stock Performance

NASDAQ VIAV opened at $9.91 on Thursday. The company’s fifty day moving average is $10.23 and its two-hundred day moving average is $8.90. Viavi Solutions has a 52-week low of $6.60 and a 52-week high of $11.49. 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 firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -58.29 and a beta of 0.91.

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 business had revenue of $238.20 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the business earned $0.05 earnings per share. Equities research analysts forecast that Viavi Solutions will post 0.19 EPS for the current year.

Insider Transactions at Viavi Solutions

In related news, Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $10.14, for a total transaction of $152,100.00. Following the transaction, the director now owns 225,333 shares in the company, valued at $2,284,876.62. This represents a 6.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Luke M. Scrivanich sold 2,802 shares of the business’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 completion of the transaction, the senior vice president now directly owns 54,517 shares of the company’s stock, valued at approximately $568,612.31. This represents a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,802 shares of company stock valued at $318,875. Corporate insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. lifted its stake in shares of Viavi Solutions by 98,561.6% during the second quarter. Federated Hermes Inc. now owns 187,457 shares of the communications equipment provider’s stock valued at $1,288,000 after acquiring an additional 187,267 shares during the period. Geode Capital Management LLC raised its holdings in Viavi Solutions by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 5,307,974 shares of the communications equipment provider’s stock worth $47,887,000 after purchasing an additional 54,633 shares during the last quarter. Leeward Investments LLC MA lifted its position in Viavi Solutions by 17.1% during the 3rd quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider’s stock valued at $15,385,000 after purchasing an additional 249,554 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of Viavi Solutions by 44.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 15,938 shares of the communications equipment provider’s stock valued at $144,000 after purchasing an additional 4,875 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Viavi Solutions by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,194,959 shares of the communications equipment provider’s stock worth $28,819,000 after buying an additional 217,399 shares during the period. 95.54% of the stock is currently owned by institutional investors.

About Viavi Solutions

Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.