Viavi Solutions Inc. (VIAV) Receives $7.65 Average Target Price from Analysts
Shares of Viavi Solutions Inc. (NASDAQ:VIAV) have received an average rating of “Hold” from the nine analysts that are presently covering the stock. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $7.65.
Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a research note on Thursday, September 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research note on Monday, August 15th. William Blair reaffirmed an “outperform” rating on shares of Viavi Solutions in a research note on Friday, September 16th. 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. Finally, 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.
Shares of Viavi Solutions (NASDAQ:VIAV) opened at 7.93 on Monday. The company’s 50 day moving average is $7.38 and its 200 day moving average is $7.13. The company has a market cap of $1.82 billion, a P/E ratio of 38.87 and a beta of 1.59. Viavi Solutions has a one year low of $4.68 and a one year high of $8.00.
Viavi Solutions (NASDAQ:VIAV) last issued its earnings results on Tuesday, November 1st. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 was down 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 earnings per share. On average, equities analysts predict that Viavi Solutions will post $0.33 earnings per share for the current year.
In related news, SVP Luke M. Scrivanich sold 34,299 shares of the firm’s stock in a transaction dated 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 owns 41,438 shares in the company, valued at $302,911.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul Mcnab sold 36,690 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $7.40, for a total transaction of $271,506.00. Following the sale, the executive vice president now owns 27,936 shares of the company’s stock, valued at approximately $206,726.40. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Hsbc Holdings PLC increased its stake 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. Paloma Partners Management Co raised its position in shares of Viavi Solutions by 1.8% in the second quarter. Paloma Partners Management Co now owns 20,570 shares of the company’s stock worth $137,000 after buying an additional 362 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Viavi Solutions by 0.4% in the second quarter. Louisiana State Employees Retirement System now owns 103,000 shares of the company’s stock worth $683,000 after buying an additional 400 shares in the last quarter. Amalgamated Bank raised its position in shares of Viavi Solutions by 2.4% in the second quarter. Amalgamated Bank now owns 27,895 shares of the company’s stock worth $204,000 after buying an additional 665 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its position in shares of Viavi Solutions by 1.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 51,940 shares of the company’s stock worth $384,000 after buying an additional 720 shares in the last quarter. Institutional investors and hedge funds own 88.56% 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.
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