Several other equities research analysts have also commented on the stock. Zacks Investment Research upgraded shares of Viavi Solutions from a sell rating to a hold rating in a research note on Friday, June 21st. Northland Securities set a $16.00 price target on shares of Viavi Solutions and gave the stock a buy rating in a research note on Tuesday, June 11th. TheStreet lowered shares of Viavi Solutions from a b- rating to a c+ rating in a research note on Monday, June 3rd. ValuEngine lowered shares of Viavi Solutions from a buy rating to a hold rating in a research note on Thursday, May 23rd. Finally, Morgan Stanley set a $13.00 price target on shares of Viavi Solutions and gave the stock a hold rating in a research note on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of Buy and an average price target of $13.81.
NASDAQ:VIAV opened at $13.19 on Monday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.86 and a current ratio of 3.19. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 38.79 and a beta of 0.98. Viavi Solutions has a 52 week low of $9.17 and a 52 week high of $14.00. The company has a 50-day moving average price of $12.90.
Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.03. The firm had revenue of $265.20 million during the quarter, compared to analyst estimates of $259.86 million. Viavi Solutions had a negative net margin of 3.25% and a positive return on equity of 15.88%. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter last year, the business posted $0.13 EPS. Analysts expect that Viavi Solutions will post 0.53 earnings per share for the current year.
In other news, CFO Amar Maletira sold 14,844 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were 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 in the company, valued at approximately $3,509,913.54. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 19,750 shares of company stock valued at $267,809. 0.50% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of VIAV. Norges Bank purchased a new stake in shares of Viavi Solutions during the 4th quarter worth approximately $23,704,000. Rothschild & Co. Asset Management US Inc. bought a new position in Viavi Solutions in the 1st quarter worth approximately $26,300,000. Redwood Investments LLC bought a new position in Viavi Solutions in the 1st quarter worth approximately $18,286,000. Toronado Partners LLC bought a new position in Viavi Solutions in the 4th quarter worth approximately $13,751,000. Finally, Victory Capital Management Inc. boosted its holdings in Viavi Solutions by 46.6% in the 1st quarter. Victory Capital Management Inc. now owns 3,624,562 shares of the communications equipment provider’s stock worth $44,872,000 after buying an additional 1,151,837 shares during the period. Institutional investors own 92.52% of the company’s stock.
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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