Needham & Company LLC Reaffirms Hold Rating for Viavi Solutions Inc. (VIAV)
Viavi Solutions Inc. (NASDAQ:VIAV)‘s stock had its “hold” rating restated by investment analysts at Needham & Company LLC in a research report issued on Tuesday.
VIAV has been the subject of several other reports. Zacks Investment Research cut Viavi Solutions from a “buy” rating to a “hold” rating in a report on Saturday, September 10th. William Blair reiterated a “buy” rating on shares of Viavi Solutions in a report on Monday, June 6th. B. Riley reiterated a “neutral” rating and set a $6.75 price target on shares of Viavi Solutions in a report on Wednesday, August 10th. MKM Partners reiterated a “buy” rating and set a $8.50 price target on shares of Viavi Solutions in a report on Monday. Finally, Morgan Stanley reiterated a “hold” rating and set a $6.00 price target on shares of Viavi Solutions in a report on Friday, August 12th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $7.45.
Viavi Solutions (NASDAQ:VIAV) opened at 7.42 on Tuesday. The stock’s 50 day moving average is $7.55 and its 200 day moving average is $6.93. The firm’s market capitalization is $1.72 billion. Viavi Solutions has a 1-year low of $4.68 and a 1-year high of $7.94.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/needham-company-llc-reaffirms-hold-rating-for-viavi-solutions-inc-viav.html
Viavi Solutions (NASDAQ:VIAV) last issued its earnings results on Thursday, August 11th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.01. The company earned $224.10 million during the quarter, compared to analysts’ expectations of $220.39 million. Viavi Solutions had a positive return on equity of 6.67% and a negative net margin of 10.95%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.13 EPS. Analysts predict that Viavi Solutions will post $0.35 EPS for the current fiscal year.
In related news, SVP Ralph Rondinone sold 10,573 shares of the stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $7.59, for a total transaction of $80,249.07. Following the transaction, the senior vice president now owns 15,664 shares of the company’s stock, valued at approximately $118,889.76. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Luke M. Scrivanich sold 14,415 shares of the stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $7.84, for a total value of $113,013.60. Following the transaction, the senior vice president now directly owns 12,686 shares in the company, valued at approximately $99,458.24. The disclosure for this sale can be found here. Corporate insiders own 0.77% of the company’s stock.
A number of institutional investors have recently bought and sold shares of VIAV. Nuveen Asset Management LLC purchased a new position in Viavi Solutions during the second quarter valued at about $103,000. Legal & General Group Plc raised its position in Viavi Solutions by 76.6% in the first quarter. Legal & General Group Plc now owns 15,565 shares of the company’s stock valued at $107,000 after buying an additional 6,749 shares during the last quarter. Hsbc Holdings PLC raised its position in Viavi Solutions by 0.6% in the second quarter. Hsbc Holdings PLC now owns 17,438 shares of the company’s stock valued at $116,000 after buying an additional 98 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in Viavi Solutions during the second quarter valued at about $121,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in Viavi Solutions during the second quarter valued at about $130,000. 87.21% of the stock is currently owned by hedge funds and other institutional investors.
Viavi Solutions Company Profile
Viavi Solutions Inc, formerly JDS Uniphase Corporation, is a provider of network and service enablement solutions and optical products for telecommunications service providers, wireless operators, cable operators, network-equipment manufacturers (NEMs) and enterprises. The Company operates in three business segments: Network and Service Enablement (NSE), Communications and Commercial Optical Products (CCOP), and Optical Security and Performance Products (OSP).
Receive News & Ratings for Viavi Solutions Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viavi Solutions Inc. and related companies with MarketBeat.com's FREE daily email newsletter.