Viavi Solutions Inc. (VIAV) Upgraded to “Overweight” by JPMorgan Chase & Co.
JPMorgan Chase & Co. upgraded shares of Viavi Solutions Inc. (NASDAQ:VIAV) from a neutral rating to an overweight rating in a report published on Tuesday morning. JPMorgan Chase & Co. currently has $10.00 target price on the stock, up from their prior target price of $7.50.
Other research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Viavi Solutions from a hold rating to a buy rating and set a $8.50 price objective for the company in a report on Wednesday, August 17th. MKM Partners reissued a buy rating and issued a $8.50 price target on shares of Viavi Solutions in a report on Monday, September 19th. Needham & Company LLC restated a hold rating on shares of Viavi Solutions in a research report on Monday, August 15th. Jefferies Group raised their price objective 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. Finally, Morgan Stanley restated a hold rating and set a $6.00 price objective on shares of Viavi Solutions in a research report on Friday, August 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $7.88.
Shares of Viavi Solutions (NASDAQ:VIAV) opened at 7.26 on Tuesday. The company’s 50 day moving average price is $7.50 and its 200 day moving average price is $7.01. The firm’s market capitalization is $1.69 billion. Viavi Solutions has a one year low of $4.68 and a one year high of $7.94.
Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data on Thursday, August 11th. The company reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.01. The company earned $224.10 million during the quarter, compared to the consensus estimate of $220.39 million. Viavi Solutions had a negative net margin of 10.95% and a positive return on equity of 6.67%. Viavi Solutions’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the firm earned $0.13 EPS. On average, analysts expect that Viavi Solutions will post $0.35 EPS for the current fiscal year.
In other news, SVP Dion Joannou sold 12,466 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $7.79, for a total transaction of $97,110.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Luke M. Scrivanich sold 34,299 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $7.31, for a total transaction of $250,725.69. Following the transaction, the senior vice president now directly owns 41,438 shares of the company’s stock, valued at $302,911.78. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of VIAV. Fisher Asset Management LLC raised its position in Viavi Solutions by 17.7% in the third quarter. Fisher Asset Management LLC now owns 773,413 shares of the company’s stock worth $5,716,000 after buying an additional 116,100 shares during the last quarter. Mason Street Advisors LLC purchased a new position in Viavi Solutions during the second quarter worth $301,000. Schwab Charles Investment Management Inc. raised its position in Viavi Solutions by 66.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,040,617 shares of the company’s stock worth $6,900,000 after buying an additional 416,706 shares during the last quarter. Stifel Financial Corp purchased a new position in Viavi Solutions during the second quarter worth $436,000. Finally, Amalgamated Bank raised its position in Viavi Solutions by 2.4% in the second quarter. Amalgamated Bank now owns 27,895 shares of the company’s stock worth $204,000 after buying an additional 665 shares during the last quarter. Institutional investors and hedge funds own 87.35% of the company’s stock.
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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