Viavi Solutions Inc. (VIAV) Reaches New 1-Year High at $7.89
Viavi Solutions Inc. (NASDAQ:VIAV)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $7.89 and last traded at $7.81, with a volume of 764,445 shares changing hands. The stock had previously closed at $7.77.
Several research firms recently issued reports on VIAV. Zacks Investment Research upgraded Viavi Solutions from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a report on Wednesday, August 17th. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a report on Monday, August 15th. B. Riley reiterated a “neutral” rating and issued a $7.00 price target on shares of Viavi Solutions in a report on Monday, August 15th. Morgan Stanley reiterated a “hold” rating and issued a $6.00 price target on shares of Viavi Solutions in a report on Friday, August 12th. Finally, Jefferies Group raised their price target on Viavi Solutions from $5.75 to $7.00 and gave the company a “hold” rating in a report on Friday, August 12th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $7.40.
The firm’s market cap is $1.83 billion. The company has a 50 day moving average price of $7.15 and a 200-day moving average price of $6.73.
Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Thursday, August 11th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. During the same period last year, the firm posted $0.13 EPS. The business had revenue of $224.10 million for the quarter, compared to analyst estimates of $220.39 million. Viavi Solutions’s quarterly revenue was up 1.8% on a year-over-year basis. On average, equities research analysts forecast that Viavi Solutions Inc. will post $0.36 EPS for the current year.
In other news, SVP Ralph Rondinone sold 10,573 shares of the business’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $7.59, for a total transaction of $80,249.07. Following the completion of the transaction, the senior vice president now owns 15,664 shares of the company’s stock, valued at approximately $118,889.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Viavi Solutions Inc, formerly JDS Uniphase Corporation, is a provider of network and service enablement solutions and optical products for telecommunications service providers, wireless operators, cable operators, network-equipment manufacturers (NEMs) and enterprises. The Company operates in three business segments: Network and Service Enablement (NSE), Communications and Commercial Optical Products (CCOP), and Optical Security and Performance Products (OSP).
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