Viavi Solutions (NASDAQ:VIAV) Rating Lowered to Neutral at Susquehanna

Susquehanna lowered shares of Viavi Solutions (NASDAQ:VIAV) from a positive rating to a neutral rating in a research note issued to investors on Friday morning, Marketbeat.com reports. They currently have $9.00 price objective on the communications equipment provider’s stock.

A number of other brokerages have also commented on VIAV. StockNews.com upgraded shares of Viavi Solutions from a hold rating to a buy rating in a report on Friday, April 12th. Northland Securities increased their price target on Viavi Solutions from $12.00 to $17.00 and gave the company an outperform rating in a report on Wednesday, March 6th. Stifel Nicolaus restated a buy rating and set a $13.00 price objective on shares of Viavi Solutions in a research note on Monday, April 1st. Morgan Stanley upped their target price on Viavi Solutions from $9.00 to $11.00 and gave the company an equal weight rating in a research report on Wednesday, March 6th. Finally, Needham & Company LLC reissued a hold rating on shares of Viavi Solutions in a research report on Friday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Viavi Solutions currently has a consensus rating of Moderate Buy and a consensus price target of $12.00.

Viavi Solutions Price Performance

VIAV opened at $7.56 on Friday. The company has a 50 day moving average of $9.11 and a two-hundred day moving average of $9.05. Viavi Solutions has a 52-week low of $7.10 and a 52-week high of $11.65. The company has a quick ratio of 2.72, a current ratio of 3.09 and a debt-to-equity ratio of 0.87. The company has a market cap of $1.68 billion, a P/E ratio of -378.00 and a beta of 0.97.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). The company had revenue of $246.00 million during the quarter, compared to analysts’ expectations of $249.08 million. Viavi Solutions had a negative net margin of 0.42% and a positive return on equity of 4.66%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the business earned $0.02 earnings per share. On average, analysts expect that Viavi Solutions will post 0.22 earnings per share for the current year.

Insider Transactions at Viavi Solutions

In other Viavi Solutions news, EVP Paul Mcnab sold 15,004 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $10.62, for a total transaction of $159,342.48. Following the sale, the executive vice president now directly owns 57,940 shares of the company’s stock, valued at $615,322.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Kevin Christopher Siebert sold 13,967 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $10.70, for a total transaction of $149,446.90. Following the completion of the transaction, the senior vice president now owns 47,097 shares in the company, valued at approximately $503,937.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul Mcnab sold 15,004 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $10.62, for a total value of $159,342.48. Following the completion of the sale, the executive vice president now directly owns 57,940 shares in the company, valued at $615,322.80. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Viavi Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in Viavi Solutions in the 4th quarter worth about $24,608,000. Wellington Management Group LLP lifted its holdings in Viavi Solutions by 9.0% in the third quarter. Wellington Management Group LLP now owns 15,925,361 shares of the communications equipment provider’s stock worth $145,558,000 after purchasing an additional 1,321,599 shares during the period. Westwood Holdings Group Inc. lifted its holdings in Viavi Solutions by 20.2% in the fourth quarter. Westwood Holdings Group Inc. now owns 6,573,335 shares of the communications equipment provider’s stock worth $66,193,000 after purchasing an additional 1,103,687 shares during the period. Assenagon Asset Management S.A. increased its stake in Viavi Solutions by 98.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,070,353 shares of the communications equipment provider’s stock valued at $18,820,000 after buying an additional 1,025,987 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Viavi Solutions by 36.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,872,760 shares of the communications equipment provider’s stock worth $26,257,000 after buying an additional 768,759 shares in the last quarter. Institutional investors and hedge funds 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.