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

StockNews.com cut shares of Viavi Solutions (NASDAQ:VIAV) from a buy rating to a hold rating in a research report released on Thursday.

A number of other research analysts have also recently weighed in on the stock. Stifel Nicolaus cut their price objective on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a research report on Friday, November 1st. Northland Securities boosted their target price on Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. B. Riley cut their target price 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. Finally, Rosenblatt Securities raised their price target on Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $10.44.

Viavi Solutions Price Performance

Shares of NASDAQ VIAV opened at $9.88 on Thursday. 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 has a 12-month low of $6.60 and a 12-month high of $11.32. The firm’s 50-day moving average price is $9.45 and its 200-day moving average price is $8.29.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, meeting 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 company’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.05 earnings per share. On average, equities research analysts expect that Viavi Solutions will post 0.19 EPS for the current year.

Insider Transactions at Viavi Solutions

In other news, Director Masood Jabbar sold 15,000 shares of the stock in a transaction that occurred on 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 directly owns 225,333 shares in the company, valued at approximately $2,284,876.62. This trade represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul Mcnab sold 5,920 shares of Viavi Solutions stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $8.45, for a total transaction of $50,024.00. Following the transaction, the executive vice president now directly owns 34,545 shares in the company, valued at approximately $291,905.25. The trade was a 14.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,949 shares of company stock valued at $489,511. 1.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Viavi Solutions

A number of hedge funds have recently made changes to their positions in VIAV. Bank of New York Mellon Corp raised its holdings in Viavi Solutions by 65.2% in the second quarter. Bank of New York Mellon Corp now owns 3,290,197 shares of the communications equipment provider’s stock worth $22,604,000 after purchasing an additional 1,298,394 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 acquiring an additional 661,450 shares in the last quarter. Westwood Holdings Group Inc. lifted 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 valued at $49,489,000 after acquiring an additional 606,522 shares during the last quarter. Leeward Investments LLC MA boosted its stake in Viavi Solutions by 17.1% in the third quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider’s stock valued at $15,385,000 after acquiring an additional 249,554 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Viavi Solutions by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,194,959 shares of the communications equipment provider’s stock worth $28,819,000 after purchasing an additional 217,399 shares during the last quarter. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

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.