Zacks Investment Research cut shares of Viavi Solutions Inc. (NASDAQ:VIAV) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.

According to Zacks, “Viavi Solutions Inc. provides software and hardware platforms and instruments for telecommunications service providers, wireless operators, cable operators, network-equipment manufacturers and enterprises. The Company offers installation, commissioning, scripting, custom analytics, integration, business intelligence consulting, operational assistance, field and lab testing, technical training, maintenance, and support services. Its operating segment consists of Network and Service Enablement, Communications and Commercial Optical Products and Optical Security and Performance Products. Viavi Solutions Inc., formerly known as JDS Uniphase Corporation, is based in Milpitas, Calif. “

Other equities research analysts also recently issued research reports about the company. MKM Partners reaffirmed a buy rating and set a $8.50 price objective on shares of Viavi Solutions in a research report on Monday, September 19th. Needham & Company LLC reissued a hold rating on shares of Viavi Solutions in a report on Tuesday, September 20th. Morgan Stanley reissued a hold rating and issued a $6.00 price target on shares of Viavi Solutions in a report on Friday, August 12th. Jefferies Group raised their price target on Viavi Solutions from $5.75 to $7.00 and gave the stock a hold rating in a report on Friday, August 12th. Finally, B. Riley reissued a neutral rating and issued a $6.75 price target on shares of Viavi Solutions in a report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $7.88.

Analyst Recommendations for Viavi Solutions (NASDAQ:VIAV)

Shares of Viavi Solutions (NASDAQ:VIAV) traded up 0.69% during mid-day trading on Thursday, hitting $7.33. 160,737 shares of the stock were exchanged. The firm’s market cap is $1.70 billion. Viavi Solutions has a 12 month low of $4.68 and a 12 month high of $7.93. The stock’s 50 day moving average is $7.51 and its 200 day moving average is $7.01.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings data on Thursday, August 11th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Viavi Solutions had a positive return on equity of 6.67% and a negative net margin of 10.95%. The company had revenue of $224.10 million for the quarter, compared to the consensus estimate of $220.39 million. During the same quarter last year, the company earned $0.13 earnings per share. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. Analysts expect that Viavi Solutions will post $0.35 EPS for the current fiscal year.

In other news, SVP Susan Louise Spradley sold 15,766 shares of Viavi Solutions stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $7.50, for a total value of $118,245.00. Following the sale, the senior vice president now directly owns 1,752 shares of the company’s stock, valued at $13,140. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Dion Joannou sold 12,466 shares of Viavi Solutions stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $7.79, for a total value of $97,110.14. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Nuveen Asset Management LLC bought a new position in Viavi Solutions during the second quarter worth $103,000. Legal & General Group Plc raised its position in Viavi Solutions by 76.6% in the first quarter. Legal & General Group Plc now owns 15,565 shares of the company’s stock worth $107,000 after buying an additional 6,749 shares during the period. Hsbc Holdings PLC raised its position in Viavi Solutions by 0.6% in the second quarter. Hsbc Holdings PLC now owns 17,438 shares of the company’s stock worth $116,000 after buying an additional 98 shares during the period. Ameritas Investment Partners Inc. bought a new position in Viavi Solutions during the second quarter worth $121,000. Finally, Tower Research Capital LLC TRC raised its position in Viavi Solutions by 152.0% in the second quarter. Tower Research Capital LLC TRC now owns 19,559 shares of the company’s stock worth $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.

About Viavi Solutions

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).

5 Day Chart for NASDAQ:VIAV

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