Several other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Viavi Solutions from a hold rating to a sell rating in a research note on Friday, July 5th. Northland Securities set a $16.00 target price on shares of Viavi Solutions and gave the company a buy rating in a research note on Tuesday, June 11th. Morgan Stanley set a $13.00 target price on shares of Viavi Solutions and gave the company a hold rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. upgraded shares of Viavi Solutions from an underweight rating to a neutral rating and boosted their target price for the company from $12.00 to $13.00 in a research note on Monday, April 22nd. Finally, TheStreet lowered shares of Viavi Solutions from a b- rating to a c+ rating in a research note on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $14.00.
Shares of NASDAQ:VIAV opened at $13.77 on Thursday. The company has a current ratio of 3.19, a quick ratio of 2.86 and a debt-to-equity ratio of 0.79. Viavi Solutions has a 12-month low of $9.17 and a 12-month high of $14.95. The company has a fifty day simple moving average of $14.22 and a 200 day simple moving average of $13.08. The firm has a market cap of $3.23 billion, a PE ratio of 26.48 and a beta of 0.98.
Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Thursday, August 15th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. Viavi Solutions had a negative net margin of 3.25% and a positive return on equity of 15.88%. The firm had revenue of $289.70 million during the quarter, compared to analyst estimates of $279.18 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities research analysts forecast that Viavi Solutions will post 0.6 EPS for the current fiscal year.
In other news, CFO Amar Maletira sold 2,806 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $14.00, for a total transaction of $39,284.00. Following the completion of the transaction, the chief financial officer now owns 251,720 shares in the company, valued at $3,524,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have sold 22,556 shares of company stock valued at $307,093. 0.50% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Viavi Solutions during the fourth quarter valued at approximately $23,704,000. Geode Capital Management LLC increased its holdings in Viavi Solutions by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 2,548,290 shares of the communications equipment provider’s stock valued at $25,610,000 after buying an additional 157,575 shares during the period. Strs Ohio increased its holdings in Viavi Solutions by 37.8% during the first quarter. Strs Ohio now owns 16,400 shares of the communications equipment provider’s stock valued at $203,000 after buying an additional 4,500 shares during the period. Columbus Circle Investors purchased a new position in Viavi Solutions during the first quarter valued at approximately $11,993,000. Finally, Capital Investment Advisory Services LLC purchased a new position in Viavi Solutions during the first quarter valued at approximately $68,000. Institutional investors and hedge funds own 93.33% of the company’s stock.
About Viavi Solutions
Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military, and avionics customers worldwide. The company operates through Network Enablement, Service Enablement, and Optical Security and Performance Products segments.
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