Viavi Solutions (NASDAQ:VIAV) Given "Underweight" Rating at Morgan Stanley

Morgan Stanley reaffirmed their underweight rating on shares of Viavi Solutions (NASDAQ:VIAV - Free Report) in a research report sent to investors on Tuesday, MarketBeat.com reports. Morgan Stanley currently has a $9.50 price target on the communications equipment provider's stock, up from their prior price target of $8.00.

Other equities research analysts have also recently issued reports about the company. UBS Group began coverage on Viavi Solutions in a research note on Tuesday, November 19th. They set a "neutral" rating and a $10.60 target price on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Viavi Solutions in a research note on Monday. Rosenblatt Securities raised their price target on shares of Viavi Solutions from $8.25 to $10.50 and gave the stock a "neutral" rating in a research note on Friday, November 1st. Stifel Nicolaus boosted their target price on Viavi Solutions from $10.50 to $12.00 and gave the company a "buy" rating in a research note on Monday. Finally, StockNews.com upgraded shares of Viavi Solutions from a "hold" rating to a "buy" rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $10.44.

Viavi Solutions Stock Down 5.7 %

Shares of VIAV traded down $0.64 on Tuesday, reaching $10.52. The company's stock had a trading volume of 2,864,546 shares, compared to its average volume of 1,776,778. Viavi Solutions has a twelve month low of $6.60 and a twelve month high of $11.49. The stock has a market capitalization of $2.33 billion, a PE ratio of -61.88 and a beta of 0.92. 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 firm has a fifty day moving average of $9.88 and a 200-day moving average of $8.57.

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 positive return on equity of 2.22% and a negative net margin of 3.78%. The firm had revenue of $238.20 million during the quarter, compared to analyst estimates of $240.09 million. During the same period in the previous year, the company posted $0.05 EPS. The company's revenue for the quarter was down 3.9% on a year-over-year basis. Equities analysts predict that Viavi Solutions will post 0.19 EPS for the current year.

Insider Activity

In related news, Director Masood Jabbar sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $10.14, for a total value of $152,100.00. Following the transaction, the director now directly owns 225,333 shares in the company, valued at approximately $2,284,876.62. This represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Luke M. Scrivanich sold 3,029 shares of Viavi Solutions stock in a transaction that occurred 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 sale, the senior vice president now owns 57,319 shares of the company's stock, valued at approximately $507,846.34. The trade was a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,831 shares of company stock worth $345,712. 1.52% of the stock is owned by company insiders.

Institutional Trading of Viavi Solutions

Hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC raised its position in Viavi Solutions by 44.1% during the third quarter. Sanctuary Advisors LLC now owns 15,938 shares of the communications equipment provider's stock valued at $144,000 after purchasing an additional 4,875 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Viavi Solutions by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 5,307,974 shares of the communications equipment provider's stock valued at $47,887,000 after buying an additional 54,633 shares in the last quarter. Barclays PLC lifted its position in Viavi Solutions by 4.4% in the 3rd quarter. Barclays PLC now owns 538,261 shares of the communications equipment provider's stock worth $4,856,000 after buying an additional 22,893 shares during the last quarter. MML Investors Services LLC grew its position in Viavi Solutions by 34.3% during the third quarter. MML Investors Services LLC now owns 37,480 shares of the communications equipment provider's stock valued at $338,000 after acquiring an additional 9,580 shares during the last quarter. Finally, Dean Investment Associates LLC raised its stake in shares of Viavi Solutions by 189.6% during the third quarter. Dean Investment Associates LLC now owns 280,239 shares of the communications equipment provider's stock worth $2,528,000 after acquiring an additional 183,481 shares in the last quarter. 95.54% of the stock is owned by institutional investors.

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.