Viavi Solutions (NASDAQ:VIAV) Receives "Hold" Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Viavi Solutions (NASDAQ:VIAV - Free Report) in a research report released on Friday, Benzinga reports.

Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus reduced their target price on Viavi Solutions from $13.00 to $10.50 and set a "buy" rating on the stock in a report on Tuesday, August 6th. StockNews.com raised Viavi Solutions from a "hold" rating to a "buy" rating in a research note on Tuesday, September 10th. B. Riley lowered their target price on Viavi Solutions from $9.00 to $8.50 and set a "neutral" rating for the company in a research report on Friday, August 9th. Finally, Rosenblatt Securities boosted their price target on shares of Viavi Solutions from $8.25 to $10.50 and gave the stock a "neutral" rating in a research report on Friday. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Viavi Solutions has an average rating of "Moderate Buy" and an average target price of $10.42.

Viavi Solutions Price Performance

VIAV stock traded up $0.64 during midday trading on Friday, hitting $9.86. The company's stock had a trading volume of 5,240,542 shares, compared to its average volume of 1,785,021. The company has a quick ratio of 3.16, a current ratio of 3.55 and a debt-to-equity ratio of 0.93. Viavi Solutions has a 12 month low of $6.60 and a 12 month high of $11.32. The company has a 50 day moving average of $8.78 and a two-hundred day moving average of $8.00. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -58.29 and a beta of 0.91.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last issued its earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share for the quarter, hitting analysts' consensus estimates of $0.06. The firm had revenue of $238.20 million during the quarter, compared to analyst estimates of $240.09 million. Viavi Solutions had a negative net margin of 2.58% and a positive return on equity of 3.81%. Viavi Solutions's revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 earnings per share. On average, analysts expect that Viavi Solutions will post 0.17 EPS for the current year.

Insider Buying and Selling

In related news, SVP Kevin Christopher Siebert sold 8,432 shares of the firm's stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $8.63, for a total value of $72,768.16. Following the completion of the sale, the senior vice president now directly owns 56,617 shares in the company, valued at $488,604.71. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Viavi Solutions news, SVP Kevin Christopher Siebert sold 8,432 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $8.63, for a total value of $72,768.16. Following the sale, the senior vice president now owns 56,617 shares in the company, valued at $488,604.71. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Masood Jabbar sold 15,000 shares of the 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 completion of the sale, the director now owns 213,514 shares in the company, valued at approximately $1,957,923.38. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 85,976 shares of company stock worth $720,562 over the last three months. 1.52% of the stock is owned by insiders.

Institutional Trading of Viavi Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new stake in Viavi Solutions in the third quarter worth $25,000. Innealta Capital LLC purchased a new position in shares of Viavi Solutions during the second quarter valued at $38,000. Headlands Technologies LLC purchased a new position in shares of Viavi Solutions during the first quarter valued at $55,000. Quarry LP increased its stake in shares of Viavi Solutions by 419.7% during the second quarter. Quarry LP now owns 7,229 shares of the communications equipment provider's stock valued at $50,000 after buying an additional 5,838 shares during the period. Finally, Summit Securities Group LLC purchased a new position in shares of Viavi Solutions during the second quarter valued at $52,000. Hedge funds and other institutional investors own 95.54% of the company's stock.

Viavi Solutions Company Profile

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.