Needham & Company LLC restated their hold rating on shares of Viavi Solutions Inc. (NASDAQ:VIAV) in a research note released on Monday morning.

Several other equities research analysts also recently weighed in on VIAV. B. Riley assumed coverage on shares of Viavi Solutions in a research note on Monday, October 31st. They issued a neutral rating and a $7.00 price target for the company. Zacks Investment Research downgraded shares of Viavi Solutions from a buy rating to a hold rating in a research note on Saturday, September 3rd. Morgan Stanley reaffirmed a hold rating and issued a $6.00 price target on shares of Viavi Solutions in a research note on Friday, August 12th. William Blair reaffirmed an outperform rating on shares of Viavi Solutions in a research note on Friday, September 16th. Finally, MKM Partners reaffirmed a buy rating and issued a $8.50 price target on shares of Viavi Solutions in a research note on Monday, September 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $7.83.

Shares of Viavi Solutions (NASDAQ:VIAV) opened at 7.82 on Monday. The firm has a market cap of $1.82 billion, a PE ratio of 38.33 and a beta of 1.59. Viavi Solutions has a 12 month low of $4.68 and a 12 month high of $7.93. The firm has a 50 day moving average price of $7.32 and a 200-day moving average price of $7.09.

Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Tuesday, November 1st. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. The business had revenue of $210.80 million for the quarter, compared to analyst estimates of $208.14 million. Viavi Solutions had a net margin of 5.16% and a return on equity of 8.25%. Viavi Solutions’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.08 earnings per share. On average, analysts predict that Viavi Solutions will post $0.33 EPS for the current fiscal year.

In related news, SVP Dion Joannou sold 12,466 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $7.79, for a total transaction of $97,110.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Paul Mcnab sold 35,535 shares of the company’s stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $7.41, for a total transaction of $263,314.35. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Aperio Group LLC acquired a new stake in shares of Viavi Solutions during the first quarter worth approximately $427,000. TIAA CREF Investment Management LLC acquired a new stake in shares of Viavi Solutions during the first quarter worth approximately $6,531,000. Prudential Financial Inc. acquired a new stake in shares of Viavi Solutions during the first quarter worth approximately $3,791,000. BlackRock Inc. acquired a new stake in shares of Viavi Solutions during the first quarter worth approximately $202,000. Finally, BlackRock Group LTD acquired a new stake in shares of Viavi Solutions during the first quarter worth approximately $1,947,000. Institutional investors own 87.44% of the company’s stock.

About Viavi Solutions

Viavi Solutions Inc (Viavi) is a provider of network test, monitoring and assurance solutions to communications service providers, enterprises and their ecosystems. The Company also offers thin film optical coatings, providing light management solutions to anti-counterfeiting, consumer and industrial, government and healthcare and other markets.

5 Day Chart for NASDAQ:VIAV

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