ValuEngine upgraded shares of Viavi Solutions (NASDAQ:VIAV) from a hold rating to a buy rating in a report issued on Monday, February 4th.
Other analysts have also recently issued reports about the company. BidaskClub cut Viavi Solutions from a strong-buy rating to a buy rating in a report on Saturday, January 5th. Zacks Investment Research raised Viavi Solutions from a hold rating to a strong-buy rating and set a $14.00 price objective for the company in a report on Wednesday, October 17th. JPMorgan Chase & Co. lifted their price objective on Viavi Solutions from $11.00 to $12.00 and gave the company a sell rating in a report on Friday, November 2nd. Finally, Stifel Nicolaus began coverage on Viavi Solutions in a report on Monday, October 22nd. They issued a buy rating and a $14.00 price objective for the company. One research analyst has rated the stock with a sell rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Viavi Solutions has a consensus rating of Buy and an average target price of $12.88.
Shares of VIAV stock traded up $0.07 during trading hours on Monday, hitting $13.20. 1,180,337 shares of the company’s stock were exchanged, compared to its average volume of 2,966,379. The stock has a market capitalization of $3.04 billion, a PE ratio of 38.82 and a beta of 0.84. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.70 and a current ratio of 2.99. Viavi Solutions has a 52 week low of $9.11 and a 52 week high of $13.48.
Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings results on Tuesday, February 5th. The communications equipment provider reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.06. The company had revenue of $298.40 million for the quarter, compared to analyst estimates of $280.93 million. Viavi Solutions had a positive return on equity of 15.82% and a negative net margin of 3.76%. Viavi Solutions’s revenue was up 47.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 earnings per share. As a group, analysts forecast that Viavi Solutions will post 0.55 earnings per share for the current fiscal year.
In other news, SVP Luke M. Scrivanich sold 4,810 shares of the business’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $13.29, for a total value of $63,924.90. Following the transaction, the senior vice president now directly owns 45,456 shares of the company’s stock, valued at approximately $604,110.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.
A number of hedge funds have recently bought and sold shares of VIAV. Meeder Asset Management Inc. purchased a new stake in shares of Viavi Solutions in the fourth quarter worth approximately $31,000. Pearl River Capital LLC purchased a new stake in shares of Viavi Solutions in the fourth quarter worth approximately $45,000. First Quadrant L P CA purchased a new stake in shares of Viavi Solutions in the fourth quarter worth approximately $76,000. Oregon Public Employees Retirement Fund purchased a new stake in shares of Viavi Solutions in the fourth quarter worth approximately $87,000. Finally, Raymond James & Associates purchased a new stake in shares of Viavi Solutions in the second quarter worth approximately $109,000. 91.20% of the stock is currently owned by institutional investors and hedge funds.
Viavi Solutions Company Profile
Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military, and avionics customers worldwide. The company operates through Network Enablement, Service Enablement, and Optical Security and Performance Products segments.
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