Viavi Solutions (NASDAQ:VIAV) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday.
Other analysts also recently issued research reports about the stock. TheStreet upgraded shares of Viavi Solutions from a “c” rating to a “b-” rating in a report on Wednesday, February 6th. Rosenblatt Securities restated a “buy” rating and issued a $15.00 price target on shares of Viavi Solutions in a research note on Sunday, February 10th. Zacks Investment Research upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Saturday, February 9th. ValuEngine upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Finally, Northland Securities initiated coverage on shares of Viavi Solutions in a research note on Tuesday, February 12th. They issued an “outperform” rating and a $15.00 price target for the company. One investment analyst has rated the stock with a sell rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $12.88.
Viavi Solutions stock opened at $12.23 on Wednesday. Viavi Solutions has a fifty-two week low of $9.11 and a fifty-two week high of $13.48. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.99 and a quick ratio of 2.70. The company has a market capitalization of $2.83 billion, a P/E ratio of 35.97 and a beta of 0.90.
Viavi Solutions (NASDAQ:VIAV) last posted its earnings results on Tuesday, February 5th. The communications equipment provider reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.06. Viavi Solutions had a negative net margin of 3.76% and a positive return on equity of 15.82%. The firm had revenue of $298.40 million during the quarter, compared to the consensus estimate of $280.93 million. During the same quarter last year, the firm earned $0.09 EPS. The firm’s revenue for the quarter was up 47.9% on a year-over-year basis. On average, sell-side analysts expect that Viavi Solutions will post 0.55 EPS for the current year.
In related news, SVP Luke M. Scrivanich sold 4,810 shares of the business’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $13.29, for a total value of $63,924.90. Following the completion of the sale, the senior vice president now directly owns 45,456 shares of the company’s stock, valued at $604,110.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 6,915 shares of company stock valued at $91,685. 0.50% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new stake in shares of Viavi Solutions in the fourth quarter valued at about $31,000. Pearl River Capital LLC purchased a new stake in shares of Viavi Solutions in the fourth quarter valued at about $45,000. First Quadrant L P CA purchased a new stake in shares of Viavi Solutions in the fourth quarter valued at about $76,000. LS Investment Advisors LLC raised its holdings in shares of Viavi Solutions by 63.5% in the fourth quarter. LS Investment Advisors LLC now owns 10,817 shares of the communications equipment provider’s stock valued at $109,000 after buying an additional 4,202 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Viavi Solutions by 15.4% in the fourth quarter. Bank of Montreal Can now owns 11,698 shares of the communications equipment provider’s stock valued at $118,000 after buying an additional 1,564 shares during the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.
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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