Viavi Solutions (NASDAQ:VIAV) Upgraded at StockNews.com

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

A number of other brokerages also recently commented on VIAV. Stifel Nicolaus cut their price objective on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Rosenblatt Securities increased 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. B. Riley lowered their price objective on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Northland Securities increased their price objective on shares of Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a research note on Friday, November 1st. Five equities 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.42.

Viavi Solutions Trading Up 0.9 %

Shares of Viavi Solutions stock opened at $10.63 on Tuesday. The company has a fifty day simple moving average of $9.01 and a 200-day simple moving average of $8.10. Viavi Solutions has a 12-month low of $6.60 and a 12-month high of $11.32. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -62.53 and a beta of 0.90.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, meeting 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 firm had revenue of $238.20 million during the quarter, compared to the consensus estimate of $240.09 million. During the same quarter in the prior year, the firm earned $0.05 EPS. Viavi Solutions’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, equities analysts forecast that Viavi Solutions will post 0.17 EPS for the current fiscal year.

Insider Activity at Viavi Solutions

In related news, Director Masood Jabbar sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $9.17, for a total value of $137,550.00. Following the completion of the sale, the director now directly owns 213,514 shares in the company, valued at approximately $1,957,923.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Masood Jabbar sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $9.17, for a total value of $137,550.00. Following the completion of the sale, the director now directly owns 213,514 shares in the company, valued at approximately $1,957,923.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Luke M. Scrivanich sold 3,029 shares of Viavi Solutions stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $8.86, for a total transaction of $26,836.94. Following the transaction, the senior vice president now directly owns 57,319 shares in the company, valued at approximately $507,846.34. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,652 shares of company stock worth $665,485. 1.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Texas Permanent School Fund Corp raised its holdings in Viavi Solutions by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 194,787 shares of the communications equipment provider’s stock valued at $1,771,000 after acquiring an additional 2,754 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Viavi Solutions by 26.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 26,804 shares of the communications equipment provider’s stock valued at $244,000 after purchasing an additional 5,623 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Viavi Solutions during the first quarter worth about $55,000. QRG Capital Management Inc. grew its position in shares of Viavi Solutions by 15.6% during the first quarter. QRG Capital Management Inc. now owns 21,340 shares of the communications equipment provider’s stock worth $194,000 after acquiring an additional 2,883 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in shares of Viavi Solutions by 7.4% during the first quarter. ProShare Advisors LLC now owns 44,645 shares of the communications equipment provider’s stock worth $406,000 after acquiring an additional 3,072 shares during the last quarter. 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.