Viavi Solutions Inc. (VIAV) Earns Hold Rating from Needham & Company LLC
A number of other research analysts also recently issued reports on the company. Zacks Investment Research downgraded Viavi Solutions from a buy rating to a hold rating in a research note on Saturday, September 10th. William Blair restated a buy rating on shares of Viavi Solutions in a research note on Monday, June 6th. B. Riley restated a neutral rating and issued a $6.75 price objective on shares of Viavi Solutions in a research note on Wednesday, August 10th. MKM Partners restated a buy rating and issued a $8.50 price objective on shares of Viavi Solutions in a research note on Monday. Finally, Morgan Stanley restated a hold rating and issued a $6.00 price objective on shares of Viavi Solutions in a research note on Friday, August 12th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $7.45.
Viavi Solutions (NASDAQ:VIAV) opened at 7.50 on Tuesday. Viavi Solutions has a 1-year low of $4.68 and a 1-year high of $7.94. The firm’s market cap is $1.74 billion. The company has a 50-day moving average price of $7.58 and a 200-day moving average price of $6.94.
Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Thursday, August 11th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.01. Viavi Solutions had a positive return on equity of 6.67% and a negative net margin of 10.95%. The business earned $224.10 million during the quarter, compared to the consensus estimate of $220.39 million. During the same quarter in the prior year, the company posted $0.13 earnings per share. Viavi Solutions’s revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts forecast that Viavi Solutions will post $0.35 EPS for the current fiscal year.
In related news, VP Kevin Christopher Siebert sold 6,938 shares of the stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $7.73, for a total transaction of $53,630.74. Following the sale, the vice president now owns 691 shares of the company’s stock, valued at approximately $5,341.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paul Mcnab sold 36,690 shares of the stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $7.40, for a total value of $271,506.00. Following the sale, the executive vice president now directly owns 27,936 shares in the company, valued at approximately $206,726.40. The disclosure for this sale can be found here. Corporate insiders own 0.77% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. acquired a new stake in Viavi Solutions during the first quarter valued at $39,789,000. BlackRock Group LTD acquired a new stake in Viavi Solutions during the first quarter valued at $1,947,000. BlackRock Inc. acquired a new stake in Viavi Solutions during the first quarter valued at $202,000. Texas Permanent School Fund acquired a new stake in Viavi Solutions during the first quarter valued at $1,271,000. Finally, Bogle Investment Management L P DE acquired a new stake in Viavi Solutions during the first quarter valued at $6,151,000. 87.21% of the stock is currently owned by institutional investors and hedge funds.
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).
Receive News & Ratings for Viavi Solutions Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viavi Solutions Inc. and related companies with MarketBeat.com's FREE daily email newsletter.