Viavi Solutions Inc. (VIAV) Upgraded to Overweight at JPMorgan Chase & Co.
JPMorgan Chase & Co. upgraded shares of Viavi Solutions Inc. (NASDAQ:VIAV) from a neutral rating to an overweight rating in a report issued on Tuesday morning. The brokerage currently has $10.00 price target on the stock, up from their previous price target of $7.50.
Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Viavi Solutions from a hold rating to a buy rating and set a $8.50 price objective on the stock in a research note on Wednesday, August 17th. MKM Partners reaffirmed a buy rating and issued a $8.50 price objective on shares of Viavi Solutions in a research note on Monday, September 19th. Morgan Stanley reaffirmed a hold rating and issued a $6.00 price objective on shares of Viavi Solutions in a research note on Friday, August 12th. Jefferies Group lifted their price objective on shares of Viavi Solutions from $5.75 to $7.00 and gave the stock a hold rating in a research note on Friday, August 12th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Viavi Solutions in a research note on Monday, August 15th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $7.88.
Shares of Viavi Solutions (NASDAQ:VIAV) traded up 0.54% during mid-day trading on Tuesday, hitting $7.48. 262,795 shares of the company’s stock traded hands. Viavi Solutions has a 1-year low of $4.68 and a 1-year high of $7.94. The stock has a 50 day moving average price of $7.53 and a 200-day moving average price of $7.00. The stock’s market cap is $1.74 billion.
Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings data on Thursday, August 11th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.01. The company had revenue of $224.10 million for the quarter, compared to analysts’ expectations of $220.39 million. Viavi Solutions had a negative net margin of 10.95% and a positive return on equity of 6.67%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS. Equities research analysts anticipate that Viavi Solutions will post $0.35 EPS for the current fiscal year.
In other Viavi Solutions news, EVP Paul Mcnab sold 35,535 shares of the business’s stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $7.41, for a total value of $263,314.35. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Luke M. Scrivanich sold 34,299 shares of the business’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $7.31, for a total transaction of $250,725.69. Following the completion of the sale, the senior vice president now directly owns 41,438 shares in the company, valued at approximately $302,911.78. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Nuveen Asset Management LLC acquired a new stake in shares of Viavi Solutions during the second quarter valued at about $103,000. Legal & General Group Plc raised its stake in shares of Viavi Solutions by 76.6% in the first quarter. Legal & General Group Plc now owns 15,565 shares of the company’s stock valued at $107,000 after buying an additional 6,749 shares during the period. Hsbc Holdings PLC raised its stake in shares of Viavi Solutions by 0.6% in the second quarter. Hsbc Holdings PLC now owns 17,438 shares of the company’s stock valued at $116,000 after buying an additional 98 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of Viavi Solutions during the second quarter valued at about $121,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Viavi Solutions by 152.0% in the second quarter. Tower Research Capital LLC TRC now owns 19,559 shares of the company’s stock valued at $130,000 after buying an additional 11,799 shares during the period. 87.32% of the stock is currently owned by hedge funds and other institutional investors.
Viavi Solutions Company Profile
Viavi Solutions Inc, formerly JDS Uniphase Corporation, is a provider of network and service enablement solutions and optical products for telecommunications service providers, wireless operators, cable operators, network-equipment manufacturers (NEMs) and enterprises. The Company operates in three business segments: Network and Service Enablement (NSE), Communications and Commercial Optical Products (CCOP), and Optical Security and Performance Products (OSP).
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