Viavi Solutions (NASDAQ:VIAV) Rating Lowered to “Hold” at StockNews.com

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

VIAV has been the subject of several other research reports. Stifel Nicolaus dropped 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 note on Tuesday, August 6th. Northland Securities increased their price target on Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. B. Riley reduced their price objective on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a report on Friday, November 1st. Finally, UBS Group initiated coverage on Viavi Solutions in a research note on Tuesday, November 19th. They set a “neutral” rating and a $10.60 price target on the stock. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.44.

Viavi Solutions Price Performance

VIAV stock opened at $9.94 on Thursday. The company has a quick ratio of 3.31, a current ratio of 3.71 and a debt-to-equity ratio of 0.91. The firm has a market cap of $2.20 billion, a P/E ratio of -58.11 and a beta of 0.90. The company’s 50-day moving average price is $9.47 and its two-hundred day moving average price is $8.31. Viavi Solutions has a 12 month low of $6.60 and a 12 month high of $11.32.

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

Insider Transactions at Viavi Solutions

In other news, EVP Paul Mcnab sold 5,920 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $8.45, for a total value of $50,024.00. Following the transaction, the executive vice president now directly owns 34,545 shares of the company’s stock, valued at $291,905.25. The trade was a 14.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Masood Jabbar sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $8.20, for a total value of $123,000.00. Following the sale, the director now directly owns 228,514 shares of the company’s stock, valued at $1,873,814.80. This represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,949 shares of company stock worth $489,511. Company insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On Viavi Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. increased its position in Viavi Solutions by 98,561.6% in the 2nd quarter. Federated Hermes Inc. now owns 187,457 shares of the communications equipment provider’s stock valued at $1,288,000 after buying an additional 187,267 shares in the last quarter. Boston Partners bought a new stake in shares of Viavi Solutions during the first quarter valued at approximately $795,000. Louisiana State Employees Retirement System raised its position in shares of Viavi Solutions by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock worth $772,000 after purchasing an additional 2,100 shares during the period. Leeward Investments LLC MA lifted its holdings in shares of Viavi Solutions by 17.1% in the 3rd quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider’s stock worth $15,385,000 after purchasing an additional 249,554 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Viavi Solutions in the 3rd quarter worth $105,000. 95.54% of the stock is owned by institutional investors.

Viavi Solutions Company Profile

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.