Viavi Solutions’ (VIAV) Buy Rating Reaffirmed at MKM Partners
MKM Partners reissued their buy rating on shares of Viavi Solutions Inc. (NASDAQ:VIAV) in a research note issued to investors on Monday morning. MKM Partners currently has a $8.50 price objective on the stock.
Several other brokerages have also recently weighed in on VIAV. William Blair reissued an outperform rating on shares of Viavi Solutions in a research report on Friday. Needham & Company LLC reissued a hold rating on shares of Viavi Solutions in a research report on Monday, August 15th. B. Riley cut shares of Viavi Solutions to a neutral rating and set a $6.75 price target on the stock. in a research report on Saturday, July 2nd. Zacks Investment Research cut shares of Viavi Solutions from a buy rating to a hold rating in a research report on Saturday, September 3rd. Finally, Jefferies Group boosted their price target on shares of Viavi Solutions from $5.75 to $7.00 and gave the company a hold rating in a research report on Friday, August 12th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $7.45.
Viavi Solutions (NASDAQ:VIAV) opened at 7.42 on Monday. The stock’s market cap is $1.72 billion. Viavi Solutions has a 52-week low of $4.68 and a 52-week high of $7.94. The firm’s 50-day moving average is $7.55 and its 200-day moving average is $6.93.
Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Thursday, August 11th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.01. Viavi Solutions had a negative net margin of 10.95% and a positive return on equity of 6.67%. The business earned $224.10 million during the quarter, compared to analyst estimates of $220.39 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities research analysts predict that Viavi Solutions will post $0.35 earnings per share for the current year.
In other Viavi Solutions news, SVP Dion Joannou sold 12,466 shares of the company’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $7.79, for a total value of $97,110.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Luke M. Scrivanich sold 14,415 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $7.84, for a total transaction of $113,013.60. Following the completion of the transaction, the senior vice president now directly owns 12,686 shares in the company, valued at approximately $99,458.24. The disclosure for this sale can be found here. 0.77% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nuveen Asset Management LLC bought a new position in Viavi Solutions during the second quarter worth approximately $103,000. Legal & General Group Plc boosted its position in Viavi Solutions by 76.6% in the first quarter. Legal & General Group Plc now owns 15,565 shares of the company’s stock worth $107,000 after buying an additional 6,749 shares during the last quarter. Hsbc Holdings PLC boosted its position in Viavi Solutions by 0.6% in the second quarter. Hsbc Holdings PLC now owns 17,438 shares of the company’s stock worth $116,000 after buying an additional 98 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in Viavi Solutions during the second quarter worth approximately $121,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in Viavi Solutions during the second quarter worth approximately $130,000. 87.21% of the stock is currently owned by institutional investors.
Viavi Solutions Company Profile
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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