Zacks Investment Research upgraded shares of Viavi Solutions (NASDAQ:VIAV) from a sell rating to a hold rating in a research report report published on Monday morning, Zacks.com reports. Zacks Investment Research currently has $16.00 price objective on the communications equipment provider’s stock.
According to Zacks, “Viavi boasts a comprehensive product portfolio that offers end-to-end network visibility and analytics that optimize complex physical and virtual networks. Its products are well positioned to meet the evolving industry trends, given its technology prowess, product depth and wide customer base. Viavi pursues a holistic growth model with strategic acquisitions and focused organic improvement plans. Demand for sophisticated anti-counterfeiting features, optical filters and sensors offer lucrative growth opportunities. However, seasonality patterns and exposure to foreign currency fluctuations remain headwinds. Continued Sino-U.S. trade hostilities have hurt the supply-chain management of Viavi as most of the manufacturing partners are located in China, denting its profitability. Soft growth outlook for the 3D sensing business remains another concern.”
VIAV has been the subject of several other reports. Needham & Company LLC set a $16.00 price objective on Viavi Solutions and gave the company a buy rating in a report on Friday, September 13th. Stifel Nicolaus set a $15.00 price objective on Viavi Solutions and gave the company a buy rating in a report on Friday, August 16th. Northland Securities set a $18.00 price objective on Viavi Solutions and gave the company a buy rating in a report on Friday, September 13th. BidaskClub downgraded Viavi Solutions from a strong-buy rating to a buy rating in a report on Saturday, August 24th. Finally, ValuEngine downgraded Viavi Solutions from a buy rating to a hold rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Viavi Solutions has a consensus rating of Buy and a consensus price target of $15.25.
NASDAQ:VIAV opened at $14.53 on Monday. Viavi Solutions has a twelve month low of $9.17 and a twelve month high of $15.17. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 27.94 and a beta of 1.02. The stock has a fifty day simple moving average of $14.09 and a 200-day simple moving average of $13.36. The company has a current ratio of 3.23, a quick ratio of 2.87 and a debt-to-equity ratio of 0.80.
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, topping the consensus estimate of $0.12 by $0.01. The business had revenue of $289.70 million during the quarter, compared to the consensus estimate of $279.18 million. Viavi Solutions had a return on equity of 16.75% and a net margin of 0.48%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the company earned $0.14 earnings per share. As a group, equities research analysts predict that Viavi Solutions will post 0.55 EPS for the current fiscal year.
In other Viavi Solutions news, SVP Luke M. Scrivanich sold 7,398 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $13.91, for a total value of $102,906.18. Following the completion of the transaction, the senior vice president now directly owns 46,295 shares in the company, valued at $643,963.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Ralph Rondinone sold 3,200 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $14.19, for a total transaction of $45,408.00. Following the completion of the transaction, the senior vice president now owns 27,398 shares of the company’s stock, valued at $388,777.62. The disclosure for this sale can be found here. Insiders sold 14,223 shares of company stock valued at $199,285 over the last quarter. 0.50% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. River & Mercantile Asset Management LLP bought a new position in Viavi Solutions in the second quarter worth about $1,976,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in Viavi Solutions by 18.7% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,966 shares of the communications equipment provider’s stock worth $197,000 after purchasing an additional 2,357 shares in the last quarter. United Services Automobile Association raised its holdings in Viavi Solutions by 3.3% in the second quarter. United Services Automobile Association now owns 317,175 shares of the communications equipment provider’s stock worth $4,215,000 after purchasing an additional 10,082 shares in the last quarter. California Public Employees Retirement System raised its holdings in Viavi Solutions by 3.8% in the second quarter. California Public Employees Retirement System now owns 494,164 shares of the communications equipment provider’s stock worth $6,567,000 after purchasing an additional 18,107 shares in the last quarter. Finally, Nuveen Asset Management LLC bought a new position in Viavi Solutions in the second quarter worth about $13,815,000. Institutional investors and hedge funds own 94.68% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Viavi Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viavi Solutions and related companies with MarketBeat.com's FREE daily email newsletter.