ValuEngine Lowers Viavi Solutions (NASDAQ:VIAV) to Hold

ValuEngine lowered shares of Viavi Solutions (NASDAQ:VIAV) from a buy rating to a hold rating in a report issued on Thursday morning, ValuEngine reports.

Several other research firms also recently commented on VIAV. BidaskClub upgraded Viavi Solutions from a hold rating to a buy rating in a report on Thursday, July 4th. Zacks Investment Research downgraded Viavi Solutions from a hold rating to a sell rating in a report on Friday, July 5th. Northland Securities set a $16.00 price objective on Viavi Solutions and gave the stock a buy rating in a report on Tuesday, June 11th. JPMorgan Chase & Co. upgraded Viavi Solutions from an underweight rating to a neutral rating and raised their price objective for the stock from $12.00 to $13.00 in a report on Monday, April 22nd. Finally, Morgan Stanley set a $13.00 price target on Viavi Solutions and gave the company a hold rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $13.81.

VIAV traded down $0.51 during trading on Thursday, hitting $13.94. 2,367,405 shares of the stock were exchanged, compared to its average volume of 2,252,464. The stock has a 50 day moving average price of $14.01. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 40.97 and a beta of 0.98. Viavi Solutions has a 1 year low of $9.17 and a 1 year high of $14.95. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.86 and a current ratio of 3.19.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03. The company had revenue of $265.20 million for the quarter, compared to the consensus estimate of $259.86 million. Viavi Solutions had a positive return on equity of 15.88% and a negative net margin of 3.25%. Viavi Solutions’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period last year, the business posted $0.13 EPS. As a group, equities analysts forecast that Viavi Solutions will post 0.53 EPS for the current year.

In other Viavi Solutions news, CFO Amar Maletira sold 14,844 shares of Viavi Solutions stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $13.79, for a total transaction of $204,698.76. Following the completion of the sale, the chief financial officer now owns 254,526 shares of the company’s stock, valued at approximately $3,509,913.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 22,556 shares of company stock valued at $307,093. 0.50% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of VIAV. Stifel Financial Corp boosted its holdings in shares of Viavi Solutions by 38.5% during the 4th quarter. Stifel Financial Corp now owns 83,587 shares of the communications equipment provider’s stock worth $840,000 after buying an additional 23,252 shares during the period. Amundi Pioneer Asset Management Inc. bought a new position in shares of Viavi Solutions in the fourth quarter worth about $223,000. Legal & General Group Plc lifted its holdings in shares of Viavi Solutions by 2.3% in the fourth quarter. Legal & General Group Plc now owns 540,157 shares of the communications equipment provider’s stock worth $5,416,000 after acquiring an additional 12,269 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Viavi Solutions by 19.6% in the fourth quarter. Millennium Management LLC now owns 1,077,368 shares of the communications equipment provider’s stock worth $10,828,000 after acquiring an additional 176,819 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of Viavi Solutions by 25.7% in the fourth quarter. Amalgamated Bank now owns 33,700 shares of the communications equipment provider’s stock worth $339,000 after acquiring an additional 6,899 shares during the last quarter. 92.83% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Viavi Solutions (NASDAQ:VIAV)

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