Viavi Solutions (VIAV) Stock Rating Lowered by BidaskClub

Viavi Solutions (NASDAQ:VIAV) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday.

VIAV has been the subject of several other research reports. B. Riley upped their target price on shares of Viavi Solutions from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, August 13th. Stifel Nicolaus initiated coverage on shares of Viavi Solutions in a research report on Monday, October 22nd. They set a “buy” rating and a $14.00 price target for the company. Needham & Company LLC upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $13.50 price target for the company in a research report on Monday, August 13th. JPMorgan Chase & Co. increased their price target on shares of Viavi Solutions from $11.00 to $12.00 and gave the company a “sell” rating in a research report on Friday, November 2nd. Finally, ValuEngine lowered shares of Viavi Solutions from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $11.99.

Shares of NASDAQ VIAV traded up $0.01 during trading on Wednesday, hitting $11.12. The stock had a trading volume of 66,145 shares, compared to its average volume of 2,653,502. Viavi Solutions has a 12 month low of $8.34 and a 12 month high of $12.82. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.39 and a quick ratio of 2.18. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 32.68 and a beta of 0.87.

Viavi Solutions (NASDAQ:VIAV) last posted its earnings results on Thursday, November 1st. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Viavi Solutions had a negative net margin of 5.92% and a positive return on equity of 12.72%. The firm had revenue of $268.50 million during the quarter, compared to analyst estimates of $268.73 million. During the same quarter in the prior year, the business posted $0.11 EPS. The business’s revenue was up 40.6% compared to the same quarter last year. On average, research analysts anticipate that Viavi Solutions will post 0.49 EPS for the current fiscal year.

In other news, SVP Gary W. Staley sold 5,185 shares of the stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $11.22, for a total value of $58,175.70. Following the sale, the senior vice president now directly owns 7,670 shares of the company’s stock, valued at $86,057.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Ralph Rondinone sold 4,949 shares of the stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $11.43, for a total transaction of $56,567.07. Following the completion of the sale, the senior vice president now directly owns 24,695 shares in the company, valued at $282,263.85. The disclosure for this sale can be found here. Insiders have sold 117,495 shares of company stock valued at $1,417,459 in the last quarter. Company insiders own 0.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Viavi Solutions by 7.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 73,365 shares of the communications equipment provider’s stock worth $751,000 after buying an additional 4,958 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Viavi Solutions by 17.4% in the second quarter. SG Americas Securities LLC now owns 37,173 shares of the communications equipment provider’s stock worth $381,000 after buying an additional 5,505 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Viavi Solutions by 13.1% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 54,123 shares of the communications equipment provider’s stock worth $614,000 after buying an additional 6,251 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in shares of Viavi Solutions by 0.3% in the second quarter. Macquarie Group Ltd. now owns 2,786,563 shares of the communications equipment provider’s stock worth $28,534,000 after buying an additional 7,114 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Viavi Solutions by 1.5% in the second quarter. Rhumbline Advisers now owns 576,349 shares of the communications equipment provider’s stock worth $5,902,000 after buying an additional 8,722 shares in the last quarter. 90.59% of the stock is currently owned by hedge funds and other institutional investors.

About Viavi Solutions

Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military, and avionics customers worldwide. The company operates through Network Enablement, Service Enablement, and Optical Security and Performance Products segments.

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Analyst Recommendations for Viavi Solutions (NASDAQ:VIAV)

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