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

StockNews.com downgraded shares of Viavi Solutions (NASDAQ:VIAV) from a buy rating to a hold rating in a report released on Monday morning.

Several other research analysts have also commented on VIAV. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a research note on Friday. 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. Northland Securities boosted 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. Rosenblatt Securities boosted their price target on Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research note on Friday. Finally, Stifel Nicolaus decreased their price objective on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a report on Tuesday, August 6th. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $10.42.

Viavi Solutions Stock Performance

Shares of NASDAQ VIAV opened at $9.58 on Monday. Viavi Solutions has a 52-week low of $6.60 and a 52-week high of $11.32. The company has a market cap of $2.12 billion, a P/E ratio of -56.35 and a beta of 0.90. The firm’s fifty day moving average is $8.83 and its two-hundred day moving average is $8.02. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.31 and a current ratio of 3.71.

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, hitting analysts’ consensus estimates of $0.06. The firm had revenue of $238.20 million during the quarter, compared to analysts’ expectations of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 EPS. As a group, analysts anticipate that Viavi Solutions will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling

In other Viavi Solutions news, EVP Paul Mcnab sold 7,324 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $7.52, for a total transaction of $55,076.48. Following the completion of the sale, the executive vice president now directly owns 35,631 shares in the company, valued at $267,945.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Masood Jabbar sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $8.17, for a total transaction of $245,100.00. Following the sale, the director now directly owns 243,514 shares of the company’s stock, valued at approximately $1,989,509.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Paul Mcnab sold 7,324 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $7.52, for a total value of $55,076.48. Following the transaction, the executive vice president now owns 35,631 shares of the company’s stock, valued at approximately $267,945.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 85,976 shares of company stock valued at $720,562. Insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On Viavi Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mutual of America Capital Management LLC increased its position in Viavi Solutions by 423.6% during the first quarter. Mutual of America Capital Management LLC now owns 203,814 shares of the communications equipment provider’s stock worth $1,853,000 after buying an additional 164,889 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Viavi Solutions by 1.4% during the first quarter. Vanguard Group Inc. now owns 29,148,414 shares of the communications equipment provider’s stock valued at $264,959,000 after purchasing an additional 408,484 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in Viavi Solutions by 127.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 204,786 shares of the communications equipment provider’s stock worth $1,862,000 after acquiring an additional 114,822 shares in the last quarter. Federated Hermes Inc. boosted its position in Viavi Solutions by 98,561.6% in the second 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. Finally, Capital World Investors raised its holdings in shares of Viavi Solutions by 305.4% in the first quarter. Capital World Investors now owns 12,161,535 shares of the communications equipment provider’s stock valued at $110,548,000 after buying an additional 9,161,535 shares during the last quarter. 95.54% of the stock is currently 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.