Shares of Viavi Solutions Inc (NASDAQ:VIAV) have been assigned a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $11.93.
A number of research firms have commented on VIAV. Loop Capital began coverage on Viavi Solutions in a research report on Monday, January 29th. They set a “hold” rating and a $9.50 target price on the stock. Morgan Stanley boosted their target price on Viavi Solutions from $9.00 to $10.50 and gave the stock an “equal weight” rating in a research report on Friday, February 2nd. BidaskClub upgraded Viavi Solutions from a “strong sell” rating to a “sell” rating in a research report on Monday, February 5th. Stifel Nicolaus reiterated a “hold” rating on shares of Viavi Solutions in a research report on Tuesday, October 24th. Finally, Rosenblatt Securities set a $13.00 target price on Viavi Solutions and gave the stock a “buy” rating in a research report on Wednesday, December 13th.
In other news, Director Keith Barnes sold 13,500 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $9.75, for a total value of $131,625.00. Following the completion of the transaction, the director now directly owns 119,545 shares of the company’s stock, valued at $1,165,563.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Paul Mcnab sold 3,003 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $9.05, for a total value of $27,177.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,210 shares of company stock worth $435,069. 0.59% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. raised its holdings in shares of Viavi Solutions by 6.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,328,110 shares of the communications equipment provider’s stock worth $12,564,000 after acquiring an additional 80,760 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in shares of Viavi Solutions by 140.2% in the second quarter. Dynamic Technology Lab Private Ltd now owns 56,497 shares of the communications equipment provider’s stock worth $595,000 after acquiring an additional 32,972 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Viavi Solutions in the third quarter worth $384,000. Fisher Asset Management LLC raised its holdings in shares of Viavi Solutions by 63.8% in the third quarter. Fisher Asset Management LLC now owns 757,640 shares of the communications equipment provider’s stock worth $7,167,000 after acquiring an additional 295,185 shares during the last quarter. Finally, Stevens Capital Management LP raised its holdings in shares of Viavi Solutions by 380.5% in the third quarter. Stevens Capital Management LP now owns 79,770 shares of the communications equipment provider’s stock worth $755,000 after acquiring an additional 63,168 shares during the last quarter. 91.29% of the stock is owned by institutional investors.
Viavi Solutions (NASDAQ:VIAV) traded up $0.23 during trading on Tuesday, hitting $9.93. The company had a trading volume of 2,760,000 shares, compared to its average volume of 3,116,799. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.06 and a current ratio of 2.18. Viavi Solutions has a 12-month low of $8.34 and a 12-month high of $11.89. The stock has a market capitalization of $2,243.43, a P/E ratio of 30.09, a PEG ratio of 1.62 and a beta of 1.11.
Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Thursday, February 1st. The communications equipment provider reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.02. Viavi Solutions had a return on equity of 9.60% and a net margin of 3.94%. The firm had revenue of $201.80 million for the quarter, compared to the consensus estimate of $185.80 million. During the same period in the previous year, the business earned $0.10 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. research analysts expect that Viavi Solutions will post 0.31 EPS for the current fiscal year.
Viavi Solutions announced that its board has approved a share buyback program on Thursday, February 15th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the communications equipment provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
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About Viavi Solutions
Viavi Solutions Inc (Viavi) is a provider of network test, monitoring and assurance solutions to communications service providers, enterprises and their ecosystems. The Company also offers thin film optical coatings, providing light management solutions to anti-counterfeiting, consumer and industrial, government and healthcare and other markets.
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