Viavi Solutions Inc. (NASDAQ:VIAV) Receives Consensus Rating of “Moderate Buy” from Analysts

by · The Cerbat Gem

Viavi Solutions Inc. (NASDAQ:VIAV – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the stock, Marketbeat reports. Five equities research 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. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $10.71.

Several brokerages have commented on VIAV. Stifel Nicolaus dropped their price target on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a report on Friday, August 9th. B. Riley cut their price target 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. StockNews.com raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Finally, Rosenblatt Securities lowered shares of Viavi Solutions from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $10.00 to $8.25 in a research note on Wednesday, June 26th.

Check Out Our Latest Stock Report on Viavi Solutions

Viavi Solutions Stock Performance

Shares of Viavi Solutions stock opened at $9.31 on Thursday. Viavi Solutions has a 52 week low of $6.60 and a 52 week high of $11.32. The firm has a market cap of $2.06 billion, a PE ratio of -77.58 and a beta of 0.91. The business’s fifty day simple moving average is $8.58 and its 200-day simple moving average is $7.96. The company has a quick ratio of 3.16, a current ratio of 3.55 and a debt-to-equity ratio of 0.93.

Viavi Solutions (NASDAQ:VIAV – Get Free Report) last released its earnings results on Thursday, August 8th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $252.00 million for the quarter, compared to analyst estimates of $251.83 million. Viavi Solutions had a negative net margin of 2.58% and a positive return on equity of 3.81%. Equities analysts forecast that Viavi Solutions will post 0.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Masood Jabbar sold 30,000 shares of Viavi Solutions stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $8.17, for a total value of $245,100.00. Following the sale, the director now owns 243,514 shares of the company’s stock, valued at $1,989,509.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Luke M. Scrivanich sold 3,029 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $8.86, for a total transaction of $26,836.94. Following the transaction, the senior vice president now owns 57,319 shares of the company’s stock, valued at $507,846.34. This represents a 0.00 % 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, Director Masood Jabbar sold 30,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $8.17, for a total value of $245,100.00. Following the completion of the sale, the director now directly owns 243,514 shares of the company’s stock, valued at approximately $1,989,509.38. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,976 shares of company stock worth $720,562. 1.52% of the stock is owned by insiders.

Hedge Funds Weigh In On Viavi Solutions

Large investors have recently made changes to their positions in the stock. Innealta Capital LLC purchased a new stake in Viavi Solutions during the second quarter worth about $38,000. Headlands Technologies LLC purchased a new stake in shares of Viavi Solutions during the 1st quarter worth approximately $55,000. Quarry LP grew its holdings in shares of Viavi Solutions by 419.7% in the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock worth $50,000 after acquiring an additional 5,838 shares during the period. Summit Securities Group LLC purchased a new position in Viavi Solutions in the 2nd quarter valued at approximately $52,000. Finally, Park Avenue Securities LLC acquired a new position in Viavi Solutions during the first quarter worth $99,000. Hedge funds and other institutional investors own 95.54% of the company’s stock.

About Viavi Solutions

(Get Free Report

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.

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