Viavi Solutions (NASDAQ:VIAV) Stock Rating Upgraded by BidaskClub

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Viavi Solutions (NASDAQ:VIAV) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday, BidAskClub reports.

Several other equities research analysts have also weighed in on the company. Rosenblatt Securities reissued a “buy” rating and set a $15.00 price objective on shares of Viavi Solutions in a research note on Friday, August 16th. Northland Securities set a $18.00 price objective on Viavi Solutions and gave the stock a “buy” rating in a research note on Friday, September 13th. Zacks Investment Research raised Viavi Solutions from a “sell” rating to a “hold” rating and set a $16.00 price objective for the company in a research note on Monday, September 16th. Susquehanna Bancshares started coverage on Viavi Solutions in a research note on Friday. They set a “positive” rating and a $19.00 price objective for the company. Finally, TheStreet raised Viavi Solutions from a “c+” rating to a “b” rating in a research note on Monday, October 7th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $15.67.

VIAV opened at $14.83 on Friday. The firm has a market cap of $3.42 billion, a PE ratio of 28.52 and a beta of 1.06. The company has a quick ratio of 2.87, a current ratio of 3.23 and a debt-to-equity ratio of 0.80. The business has a fifty day simple moving average of $14.25 and a 200-day simple moving average of $13.62. Viavi Solutions has a fifty-two week low of $9.17 and a fifty-two week high of $15.17.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data 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 analyst estimates of $279.18 million. Viavi Solutions had a return on equity of 16.75% and a net margin of 0.48%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company posted $0.14 EPS. On average, equities research analysts anticipate that Viavi Solutions will post 0.55 EPS for the current fiscal year.

In other news, SVP Luke M. Scrivanich sold 7,398 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $13.91, for a total value of $102,906.18. Following the completion of the sale, the senior vice president now owns 46,295 shares of the company’s stock, valued at $643,963.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Ralph Rondinone sold 3,200 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $14.19, for a total value of $45,408.00. Following the completion of the sale, the senior vice president now directly owns 27,398 shares of the company’s stock, valued at approximately $388,777.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,509 shares of company stock valued at $625,059. 0.88% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. Nordea Investment Management AB raised its stake in Viavi Solutions by 3.3% in the 1st quarter. Nordea Investment Management AB now owns 290,100 shares of the communications equipment provider’s stock valued at $3,592,000 after purchasing an additional 9,300 shares during the last quarter. First Trust Advisors LP raised its stake in Viavi Solutions by 41.0% in the 1st quarter. First Trust Advisors LP now owns 355,406 shares of the communications equipment provider’s stock valued at $4,400,000 after purchasing an additional 103,260 shares during the last quarter. DNB Asset Management AS raised its stake in Viavi Solutions by 25.6% in the 2nd quarter. DNB Asset Management AS now owns 3,271,930 shares of the communications equipment provider’s stock valued at $43,484,000 after purchasing an additional 666,571 shares during the last quarter. Insight 2811 Inc. acquired a new position in Viavi Solutions in the 2nd quarter valued at $280,000. Finally, Oregon Public Employees Retirement Fund raised its stake in Viavi Solutions by 1.8% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 90,066 shares of the communications equipment provider’s stock valued at $1,197,000 after purchasing an additional 1,600 shares during the last quarter. 94.23% of the stock is owned by institutional investors and hedge funds.

Viavi Solutions Company Profile

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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Analyst Recommendations for Viavi Solutions (NASDAQ:VIAV)

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