Viavi Solutions’ (VIAV) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Viavi Solutions (NASDAQ:VIAV) in a research note released on Friday, Benzinga reports.

Several other analysts have also issued reports on VIAV. Northland Securities boosted their price target on shares of Viavi Solutions from $12.00 to $17.00 and gave the company an outperform rating in a research report on Wednesday, March 6th. StockNews.com upgraded Viavi Solutions from a hold rating to a buy rating in a research report on Friday, April 12th. Morgan Stanley raised their target price on Viavi Solutions from $9.00 to $11.00 and gave the stock an equal weight rating in a research note on Wednesday, March 6th. Rosenblatt Securities decreased their price target on Viavi Solutions from $15.00 to $13.00 and set a buy rating on the stock in a research report on Wednesday, April 3rd. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $13.00 price objective on shares of Viavi Solutions in a research note on Monday, April 1st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $12.00.

Viavi Solutions Stock Down 5.7 %

Shares of NASDAQ:VIAV opened at $7.56 on Friday. Viavi Solutions has a 1 year low of $7.10 and a 1 year high of $11.65. The company has a market capitalization of $1.68 billion, a PE ratio of -378.00 and a beta of 0.97. The business has a fifty day moving average price of $9.11 and a two-hundred day moving average price of $9.05. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.09 and a quick ratio of 2.72.

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

Insider Activity

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

Institutional Investors Weigh In On Viavi Solutions

Several institutional investors and hedge funds have recently bought and sold shares of VIAV. Vanguard Group Inc. lifted its position in shares of Viavi Solutions by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 28,739,930 shares of the communications equipment provider’s stock worth $289,411,000 after purchasing an additional 451,354 shares during the period. Wellington Management Group LLP lifted its holdings in Viavi Solutions by 4.0% in the fourth quarter. Wellington Management Group LLP now owns 16,563,670 shares of the communications equipment provider’s stock worth $166,796,000 after buying an additional 638,309 shares during the period. Westwood Holdings Group Inc. boosted its position in Viavi Solutions by 20.2% during the 4th quarter. Westwood Holdings Group Inc. now owns 6,573,335 shares of the communications equipment provider’s stock valued at $66,193,000 after acquiring an additional 1,103,687 shares in the last quarter. Schroder Investment Management Group grew its holdings in shares of Viavi Solutions by 15.6% during the 4th quarter. Schroder Investment Management Group now owns 5,321,940 shares of the communications equipment provider’s stock worth $53,592,000 after acquiring an additional 718,004 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Viavi Solutions by 4.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,026,592 shares of the communications equipment provider’s stock valued at $50,618,000 after purchasing an additional 202,387 shares in the last quarter. Hedge funds and other institutional investors own 95.54% of the company’s stock.

About Viavi Solutions

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.