Viavi Solutions (NASDAQ:VIAV) Rating Increased to Buy at StockNews.com

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

VIAV has been the topic of a number of other research reports. B. Riley dropped their price target on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Rosenblatt Securities raised their target price on shares of Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Northland Securities lifted their target price on shares of Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, November 1st. UBS Group assumed coverage on shares of Viavi Solutions in a research note on Tuesday, November 19th. They set a “neutral” rating and a $10.60 price target for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research note on Friday, November 1st. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.44.

Viavi Solutions Price Performance

Shares of NASDAQ:VIAV opened at $10.39 on Friday. The firm has a 50 day simple moving average of $9.64 and a 200-day simple moving average of $8.40. Viavi Solutions has a twelve month low of $6.60 and a twelve 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 company has a market capitalization of $2.30 billion, a PE ratio of -61.11 and a beta of 0.92.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, hitting 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 for the quarter, compared to analyst estimates of $240.09 million. During the same period last year, the business earned $0.05 EPS. Viavi Solutions’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, equities analysts predict that Viavi Solutions will post 0.19 EPS for the current fiscal year.

Insider Transactions at Viavi Solutions

In related news, Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was 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 of the company’s stock, valued at $2,284,876.62. This represents a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Paul Mcnab sold 5,920 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $8.45, for a total value of $50,024.00. Following the completion of the transaction, the executive vice president now 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 disclosure for this sale can be found here. In the last quarter, insiders sold 53,949 shares of company stock worth $489,511. Company insiders own 1.52% of the company’s stock.

Institutional Trading of Viavi Solutions

A number of institutional investors have recently added to or reduced their stakes in VIAV. Westwood Holdings Group Inc. boosted its position in Viavi Solutions by 9.2% during the second quarter. Westwood Holdings Group Inc. now owns 7,203,703 shares of the communications equipment provider’s stock worth $49,489,000 after purchasing an additional 606,522 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Viavi Solutions by 12.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,818,337 shares of the communications equipment provider’s stock worth $39,972,000 after buying an additional 661,450 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Viavi Solutions by 1.0% in 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 buying an additional 54,633 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Viavi Solutions by 65.2% in the 2nd 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 acquiring an additional 1,298,394 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in 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 valued at $28,819,000 after acquiring an additional 217,399 shares in the last quarter. Hedge funds and other institutional investors own 95.54% of the company’s stock.

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.