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

Needham & Company LLC reissued their hold rating on shares of Viavi Solutions (NASDAQ:VIAV - Free Report) in a report issued on Monday,Benzinga reports.

Other equities analysts also recently issued research reports about the company. UBS Group started coverage on Viavi Solutions in a research note on Tuesday, November 19th. They issued a "neutral" rating and a $10.60 price objective on the stock. Rosenblatt Securities upped their price target on Viavi Solutions from $8.25 to $10.50 and gave the company a "neutral" rating in a research report on Friday, November 1st. StockNews.com raised Viavi Solutions from a "hold" rating to a "buy" rating in a report on Friday, December 6th. Finally, Northland Securities upped their price objective on shares of Viavi Solutions from $11.00 to $13.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Viavi Solutions presently has an average rating of "Moderate Buy" and an average target price of $10.66.

Viavi Solutions Stock Performance

NASDAQ:VIAV traded up $0.11 during trading on Monday, reaching $11.16. The company's stock had a trading volume of 2,044,719 shares, compared to its average volume of 1,772,283. Viavi Solutions has a 12 month low of $6.60 and a 12 month high of $11.49. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -65.65 and a beta of 0.92. The firm has a 50 day moving average of $9.84 and a 200-day moving average of $8.55. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.31 and a current ratio of 3.71.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.06. The business had revenue of $238.20 million during the quarter, compared to the consensus estimate of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The firm's quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.05 earnings per share. Research analysts expect that Viavi Solutions will post 0.19 EPS for the current fiscal year.

Insider Activity

In other news, SVP Luke M. Scrivanich sold 3,029 shares of the business's stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $8.86, for a total transaction of $26,836.94. Following the completion of the transaction, the senior vice president now directly owns 57,319 shares in the company, valued at $507,846.34. The trade was a 5.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Masood Jabbar sold 15,000 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $10.14, for a total value of $152,100.00. Following the completion of the sale, the director now owns 225,333 shares in the company, valued at $2,284,876.62. This trade represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,831 shares of company stock worth $345,712 over the last ninety days. Company insiders own 1.52% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of VIAV. Louisiana State Employees Retirement System raised its stake in Viavi Solutions by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider's stock valued at $772,000 after purchasing an additional 2,100 shares in the last quarter. nVerses Capital LLC raised its position in shares of Viavi Solutions by 24.0% during the 3rd quarter. nVerses Capital LLC now owns 11,900 shares of the communications equipment provider's stock valued at $107,000 after buying an additional 2,300 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Viavi Solutions during the 3rd quarter worth $25,000. KBC Group NV grew its position in Viavi Solutions by 53.0% in the third quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider's stock worth $85,000 after acquiring an additional 3,252 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Viavi Solutions by 7.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,761 shares of the communications equipment provider's stock valued at $530,000 after acquiring an additional 4,043 shares during the last quarter. 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.