Viavi Solutions Inc. (VIAV) Stock Rating Upgraded by TheStreet
Viavi Solutions Inc. (NASDAQ:VIAV) was upgraded by equities researchers at TheStreet from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research raised Viavi Solutions from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a research note on Wednesday, August 17th. MKM Partners reaffirmed a “buy” rating and set a $8.50 price objective on shares of Viavi Solutions in a research note on Monday, September 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research note on Tuesday, September 20th. Morgan Stanley reaffirmed a “hold” rating and set a $6.00 price objective on shares of Viavi Solutions in a research note on Friday, August 12th. Finally, Jefferies Group lifted their price objective on Viavi Solutions from $5.75 to $7.00 and gave the stock a “hold” rating in a research note on Friday, August 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $7.83.
Shares of Viavi Solutions (NASDAQ:VIAV) opened at 7.89 on Wednesday. Viavi Solutions has a 1-year low of $4.68 and a 1-year high of $8.00. The stock’s 50 day moving average price is $7.38 and its 200-day moving average price is $7.14. The stock has a market capitalization of $1.82 billion, a P/E ratio of 38.68 and a beta of 1.59.
Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Viavi Solutions had a return on equity of 8.25% and a net margin of 5.16%. The business earned $210.80 million during the quarter, compared to analysts’ expectations of $208.14 million. During the same period in the previous year, the firm earned $0.08 earnings per share. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. Equities research analysts anticipate that Viavi Solutions will post $0.33 EPS for the current fiscal year.
In other news, EVP Paul Mcnab sold 35,535 shares of the business’s stock in a transaction dated Wednesday, October 5th. The stock was 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 available through the SEC website. Also, SVP Dion Joannou sold 12,466 shares of the business’s stock in a transaction dated Wednesday, August 24th. The shares were 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 VIAV. Nuveen Asset Management LLC purchased a new stake in shares of Viavi Solutions during the second quarter worth approximately $103,000. Stevens Capital Management LP bought a new stake in Viavi Solutions during the third quarter valued at about $110,000. World Asset Management Inc raised its stake in Viavi Solutions by 33.2% in the third quarter. World Asset Management Inc now owns 15,599 shares of the company’s stock valued at $115,000 after buying an additional 3,886 shares during the last quarter. Hsbc Holdings PLC raised 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 valued at $116,000 after buying an additional 98 shares during the last quarter. Finally, Ameritas Investment Partners Inc. bought a new stake in Viavi Solutions during the second quarter valued at about $121,000. Institutional investors own 88.56% of the company’s stock.
Viavi Solutions Company Profile
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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