Viavi Solutions (NASDAQ:VIAV) Lowered to "Hold" Rating by StockNews.com

Viavi Solutions (NASDAQ:VIAV - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Monday.

Several other brokerages have also recently commented on VIAV. B. Riley reduced their price target on shares of Viavi Solutions from $9.00 to $8.50 and set a "neutral" rating on the stock in a research report on Friday, August 9th. Northland Securities lifted their target price on Viavi Solutions from $11.00 to $13.00 and gave the stock an "outperform" rating in a research report on Friday. Stifel Nicolaus lowered their price target on Viavi Solutions from $13.00 to $10.50 and set a "buy" rating for the company in a report on Tuesday, August 6th. Rosenblatt Securities raised their price objective on Viavi Solutions from $8.25 to $10.50 and gave the stock a "neutral" rating in a research note on Friday. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Viavi Solutions in a research note on Friday. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $10.42.

Viavi Solutions Stock Down 2.8 %

Viavi Solutions stock traded down $0.28 during midday trading on Monday, hitting $9.58. 3,170,326 shares of the company were exchanged, compared to its average volume of 1,794,246. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.55 and a quick ratio of 3.16. Viavi Solutions has a fifty-two week low of $6.60 and a fifty-two week high of $11.32. The company's fifty day moving average price is $8.81 and its 200-day moving average price is $8.01. The company has a market cap of $2.12 billion, a PE ratio of -56.35 and a beta of 0.90.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, hitting analysts' consensus estimates of $0.06. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.21%. The firm had revenue of $238.20 million for the quarter, compared to analyst estimates of $240.09 million. During the same quarter in the previous year, the business posted $0.05 EPS. The firm's revenue was down 3.9% compared to the same quarter last year. On average, research analysts predict that Viavi Solutions will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling at Viavi Solutions

In related news, EVP Paul Mcnab sold 7,324 shares of Viavi Solutions stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $7.52, for a total transaction of $55,076.48. Following the transaction, the executive vice president now directly owns 35,631 shares of the company's stock, valued at $267,945.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Viavi Solutions news, Director Masood Jabbar sold 15,000 shares of the company's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $9.17, for a total value of $137,550.00. Following the transaction, the director now owns 213,514 shares of the company's stock, valued at approximately $1,957,923.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul Mcnab sold 7,324 shares of the firm's stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $7.52, for a total value of $55,076.48. Following the sale, the executive vice president now directly owns 35,631 shares of the company's stock, valued at approximately $267,945.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,976 shares of company stock valued at $720,562. 1.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Viavi Solutions

Hedge funds have recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in Viavi Solutions in the 3rd quarter worth about $25,000. Leeward Investments LLC MA lifted its position in shares of Viavi Solutions by 17.1% in the third quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider's stock worth $15,385,000 after purchasing an additional 249,554 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Viavi Solutions by 29.2% during the third quarter. QRG Capital Management Inc. now owns 23,959 shares of the communications equipment provider's stock worth $216,000 after purchasing an additional 5,420 shares during the period. Pinnacle Associates Ltd. grew its position in Viavi Solutions by 181.1% during the third quarter. Pinnacle Associates Ltd. now owns 30,196 shares of the communications equipment provider's stock valued at $272,000 after purchasing an additional 19,455 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in Viavi Solutions in the 3rd quarter valued at approximately $105,000. Hedge funds and other institutional investors own 95.54% of the company's stock.

About Viavi Solutions

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.

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