Viavi Solutions (NASDAQ:VIAV) had its target price hoisted by Morgan Stanley from $9.00 to $10.50 in a report issued on Friday. Morgan Stanley currently has an equal weight rating on the communications equipment provider’s stock.
Several other research analysts have also commented on VIAV. Needham & Company LLC restated a hold rating on shares of Viavi Solutions in a report on Thursday, October 12th. Stifel Nicolaus restated a hold rating on shares of Viavi Solutions in a report on Tuesday, October 24th. Zacks Investment Research lowered shares of Viavi Solutions from a hold rating to a sell rating in a report on Thursday, November 2nd. Rosenblatt Securities set a $13.00 price target on shares of Viavi Solutions and gave the company a buy rating in a report on Wednesday, December 13th. Finally, Loop Capital started coverage on shares of Viavi Solutions in a research report on Monday, January 29th. They issued a hold rating and a $9.50 price objective for the company. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $11.93.
Viavi Solutions (NASDAQ VIAV) opened at $9.70 on Friday. Viavi Solutions has a 1-year low of $8.34 and a 1-year high of $11.89. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.18 and a quick ratio of 2.06. The company has a market cap of $2,210.00, a P/E ratio of 74.62, a P/E/G ratio of 1.64 and a beta of 1.80.
Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Thursday, February 1st. The communications equipment provider reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.02. Viavi Solutions had a net margin of 3.94% and a return on equity of 9.60%. The firm had revenue of $201.80 million for the quarter, compared to analyst estimates of $185.80 million. During the same quarter last year, the firm posted $0.10 earnings per share. Viavi Solutions’s revenue for the quarter was down 2.3% compared to the same quarter last year. equities analysts expect that Viavi Solutions will post 0.31 EPS for the current fiscal year.
In other news, Director Richard Belluzzo sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $9.00, for a total transaction of $90,000.00. Following the completion of the sale, the director now owns 198,910 shares of the company’s stock, valued at $1,790,190. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paul Mcnab sold 3,003 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $9.05, for a total transaction of $27,177.15. The disclosure for this sale can be found here. Insiders sold 33,710 shares of company stock valued at $303,444 in the last ninety days. 0.59% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Hartford Investment Management Co. acquired a new stake in shares of Viavi Solutions during the third quarter worth approximately $102,000. Commonwealth Equity Services Inc acquired a new stake in shares of Viavi Solutions during the third quarter worth approximately $111,000. US Bancorp DE grew its position in shares of Viavi Solutions by 635.8% during the fourth quarter. US Bancorp DE now owns 12,214 shares of the communications equipment provider’s stock worth $107,000 after buying an additional 10,554 shares in the last quarter. Sciencast Management LP acquired a new stake in shares of Viavi Solutions during the second quarter worth approximately $146,000. Finally, LMR Partners LLP acquired a new stake in shares of Viavi Solutions during the fourth quarter worth approximately $195,000. 92.82% of the stock is owned by institutional investors and hedge funds.
Viavi Solutions Company Profile
Viavi Solutions Inc (Viavi) is a provider of network test, monitoring and assurance solutions to communications service providers, enterprises and their ecosystems. The Company also offers thin film optical coatings, providing light management solutions to anti-counterfeiting, consumer and industrial, government and healthcare and other markets.
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