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

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

Other analysts have also issued reports about the stock. Stifel Nicolaus boosted their target price on shares of Viavi Solutions from $10.50 to $12.00 and gave the company a "buy" rating in a research report on Monday. Needham & Company LLC restated a "hold" rating on shares of Viavi Solutions in a research note on Monday. Rosenblatt Securities lifted their target price on Viavi Solutions from $8.25 to $10.50 and gave the company a "neutral" rating in a research report on Friday, November 1st. UBS Group assumed coverage on Viavi Solutions in a report on Tuesday, November 19th. They set a "neutral" rating and a $10.60 price target for the company. Finally, Northland Securities lifted their price objective on Viavi Solutions from $11.00 to $13.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $10.66.

Viavi Solutions Stock Performance

VIAV stock traded up $0.11 on Monday, hitting $11.16. The company had a trading volume of 2,044,719 shares, compared to its average volume of 1,772,283. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of -65.65 and a beta of 0.92. Viavi Solutions has a 12-month low of $6.60 and a 12-month high of $11.49. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. The stock's 50-day simple moving average is $9.88 and its 200 day simple moving average is $8.57.

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 for the quarter, meeting analysts' consensus estimates of $0.06. The company had revenue of $238.20 million for the quarter, compared to the consensus estimate of $240.09 million. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. Viavi Solutions's revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 earnings per share. As a group, equities research analysts expect that Viavi Solutions will post 0.19 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Masood Jabbar sold 15,000 shares of Viavi Solutions stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $9.17, for a total transaction of $137,550.00. Following the sale, the director now owns 213,514 shares in the company, valued at $1,957,923.38. This trade represents a 6.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Luke M. Scrivanich sold 3,029 shares of the company's stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $8.86, for a total transaction of $26,836.94. Following the transaction, the senior vice president now owns 57,319 shares of the company's stock, valued at approximately $507,846.34. This represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,831 shares of company stock worth $345,712 over the last ninety days. Corporate insiders own 1.52% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in shares of Viavi Solutions in the third quarter worth about $25,000. Innealta Capital LLC bought a new position in shares of Viavi Solutions during the 2nd quarter valued at approximately $38,000. Quarry LP boosted its position 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 valued at $50,000 after acquiring an additional 5,838 shares during the last quarter. Summit Securities Group LLC bought a new stake in Viavi Solutions in the second quarter worth $52,000. Finally, Sanctuary Advisors LLC bought a new stake in Viavi Solutions in the second quarter worth $76,000. 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.

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