Viavi Solutions Inc (NASDAQ:VIAV) Given Consensus Recommendation of “Buy” by Brokerages

Viavi Solutions Inc (NASDAQ:VIAV) has earned an average rating of “Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $15.25.

Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Viavi Solutions from a “sell” rating to a “hold” rating and set a $16.00 price objective for the company in a research report on Monday, September 16th. B. Riley restated a “buy” rating and set a $16.00 price objective on shares of Viavi Solutions in a research report on Friday, August 16th. ValuEngine downgraded shares of Viavi Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Needham & Company LLC set a $16.00 price objective on shares of Viavi Solutions and gave the stock a “buy” rating in a research report on Friday, September 13th. Finally, TheStreet upgraded shares of Viavi Solutions from a “c+” rating to a “b” rating in a research report on Monday, October 7th.

In other Viavi Solutions news, Director Timothy Campos sold 11,500 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $14.06, for a total value of $161,690.00. Following the transaction, the director now directly owns 112,622 shares of the company’s stock, valued at approximately $1,583,465.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Luke M. Scrivanich sold 7,398 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $13.91, for a total transaction of $102,906.18. Following the completion of the transaction, the senior vice president now directly owns 46,295 shares in the company, valued at $643,963.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,509 shares of company stock valued at $625,059. 0.88% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cerebellum GP LLC acquired a new position in Viavi Solutions in the 3rd quarter valued at $73,000. State of Alaska Department of Revenue grew its stake in shares of Viavi Solutions by 126.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 176,490 shares of the communications equipment provider’s stock worth $2,471,000 after purchasing an additional 98,641 shares during the period. Macquarie Group Ltd. grew its stake in shares of Viavi Solutions by 0.6% during the 2nd quarter. Macquarie Group Ltd. now owns 2,888,014 shares of the communications equipment provider’s stock worth $38,382,000 after purchasing an additional 18,614 shares during the period. River & Mercantile Asset Management LLP acquired a new position in shares of Viavi Solutions during the 2nd quarter worth $1,976,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Viavi Solutions by 18.7% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,966 shares of the communications equipment provider’s stock worth $197,000 after purchasing an additional 2,357 shares during the period. 94.68% of the stock is currently owned by institutional investors.

NASDAQ:VIAV opened at $14.38 on Monday. The company has a current ratio of 3.23, a quick ratio of 2.87 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average price is $14.10 and its 200-day moving average price is $13.54. Viavi Solutions has a twelve month low of $9.17 and a twelve month high of $15.17. The company has a market cap of $3.18 billion, a P/E ratio of 26.08 and a beta of 1.06.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings results on Thursday, August 15th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The company had revenue of $289.70 million during the quarter, compared to the consensus estimate of $279.18 million. Viavi Solutions had a net margin of 0.48% and a return on equity of 16.75%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.14 earnings per share. On average, analysts expect that Viavi Solutions will post 0.55 earnings per share for the current year.

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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