Viavi Solutions (NASDAQ:VIAV) Upgraded to Buy at StockNews.com

Viavi Solutions (NASDAQ:VIAV - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Tuesday.

Several other equities research analysts have also commented on VIAV. B. Riley dropped their price target on Viavi Solutions from $9.00 to $8.50 and set a "neutral" rating for the company in a research note on Friday, August 9th. Northland Securities increased their price target on Viavi Solutions from $11.00 to $13.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Rosenblatt Securities lifted 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. Stifel Nicolaus reduced their price objective on Viavi Solutions from $13.00 to $10.50 and set a "buy" rating for the company in a research note on Tuesday, August 6th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Viavi Solutions in a report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $10.42.

Viavi Solutions Price Performance

Shares of Viavi Solutions stock traded down $0.32 on Tuesday, reaching $10.31. The company's stock had a trading volume of 1,543,969 shares, compared to its average volume of 1,802,581. The company has a quick ratio of 3.31, a current ratio of 3.71 and a debt-to-equity ratio of 0.91. Viavi Solutions has a 52-week low of $6.60 and a 52-week high of $11.32. The company has a market capitalization of $2.29 billion, a P/E ratio of -62.53 and a beta of 0.90. The stock has a 50-day moving average price of $9.01 and a 200-day moving average price of $8.10.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last posted its earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. 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 prior year, the company earned $0.05 EPS. Viavi Solutions's revenue was down 3.9% on a year-over-year basis. Analysts expect that Viavi Solutions will post 0.17 EPS for the current year.

Insider Buying and Selling

In other Viavi Solutions news, Director Masood Jabbar sold 30,000 shares of the company's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $8.17, for a total value of $245,100.00. Following the completion of the sale, the director now directly owns 243,514 shares of the company's stock, valued at approximately $1,989,509.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Masood Jabbar sold 30,000 shares of the firm's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $8.17, for a total transaction of $245,100.00. Following the sale, the director now owns 243,514 shares in the company, valued at approximately $1,989,509.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Kevin Christopher Siebert sold 8,432 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $8.63, for a total transaction of $72,768.16. Following the transaction, the senior vice president now directly owns 56,617 shares in the company, valued at approximately $488,604.71. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,652 shares of company stock valued at $665,485 over the last quarter. Insiders own 1.52% of the company's stock.

Hedge Funds Weigh In On Viavi Solutions

Several hedge funds have recently modified their holdings of the stock. Capital Performance Advisors LLP purchased a new stake in shares of Viavi Solutions during the third quarter valued at about $25,000. Innealta Capital LLC purchased a new position in Viavi Solutions in the 2nd quarter valued at $38,000. Quarry LP raised its holdings in shares of Viavi Solutions by 419.7% during the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider's stock worth $50,000 after acquiring an additional 5,838 shares during the period. Summit Securities Group LLC purchased a new position in shares of Viavi Solutions during the 2nd quarter worth $52,000. Finally, Headlands Technologies LLC purchased a new stake in Viavi Solutions in the 1st quarter valued at about $55,000. 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.