Needham & Company LLC Reaffirms “Hold” Rating for VIZIO (NYSE:VZIO)

VIZIO (NYSE:VZIO)‘s stock had its “hold” rating reissued by equities researchers at Needham & Company LLC in a research report issued on Tuesday, Benzinga reports.

A number of other research firms have also weighed in on VZIO. Wells Fargo & Company reiterated an “equal weight” rating and issued a $11.50 price objective (up previously from $10.00) on shares of VIZIO in a research note on Tuesday, February 27th. Piper Sandler reiterated a “neutral” rating and issued a $11.50 price objective (down previously from $12.00) on shares of VIZIO in a research note on Wednesday, February 28th. Craig Hallum reiterated a “hold” rating on shares of VIZIO in a research note on Wednesday, February 21st. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $11.50 price objective (up previously from $10.00) on shares of VIZIO in a research note on Wednesday, February 21st. Finally, Roth Mkm reiterated a “neutral” rating and issued a $11.50 price objective (down previously from $12.00) on shares of VIZIO in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.77.

VIZIO Trading Up 0.5 %

Shares of VIZIO stock opened at $10.75 on Tuesday. VIZIO has a 12-month low of $4.82 and a 12-month high of $11.28. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 71.67, a PEG ratio of 2.09 and a beta of 2.12. The firm’s 50 day simple moving average is $10.62 and its two-hundred day simple moving average is $8.00.

VIZIO (NYSE:VZIO) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. VIZIO had a net margin of 1.68% and a return on equity of 6.84%. The business had revenue of $502.60 million for the quarter, compared to analyst estimates of $498.83 million. During the same quarter in the prior year, the business posted $0.03 EPS. VIZIO’s revenue for the quarter was down 5.8% compared to the same quarter last year. On average, sell-side analysts predict that VIZIO will post 0.2 EPS for the current fiscal year.

Insider Activity at VIZIO

In other VIZIO news, Director David Eugene Russell sold 300,000 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $9.91, for a total transaction of $2,973,000.00. Following the transaction, the director now directly owns 2,536,542 shares of the company’s stock, valued at $25,137,131.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 45.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On VIZIO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VZIO. Assenagon Asset Management S.A. lifted its stake in shares of VIZIO by 65.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 310,019 shares of the company’s stock worth $2,387,000 after buying an additional 122,613 shares in the last quarter. Algert Global LLC purchased a new position in shares of VIZIO in the third quarter worth about $2,265,000. First Eagle Investment Management LLC lifted its stake in shares of VIZIO by 51.0% in the third quarter. First Eagle Investment Management LLC now owns 593,311 shares of the company’s stock worth $3,210,000 after buying an additional 200,261 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of VIZIO by 54.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 719,379 shares of the company’s stock worth $3,892,000 after buying an additional 253,750 shares in the last quarter. Finally, Trexquant Investment LP lifted its stake in shares of VIZIO by 555.4% in the third quarter. Trexquant Investment LP now owns 220,523 shares of the company’s stock worth $1,193,000 after buying an additional 186,875 shares in the last quarter. 66.24% of the stock is owned by hedge funds and other institutional investors.

VIZIO Company Profile

VIZIO Holding Corp., through its subsidiaries, provides smart televisions, sound bars, and accessories in the United States. It also operates Platform+ that comprises SmartCast, a Smart TV operating system, enabling integrated entertainment solution, and data intelligence and services products through Inscape.