Viavi Solutions Inc. (VIAV) Rating Reiterated by Needham & Company LLC
Viavi Solutions Inc. (NASDAQ:VIAV)‘s stock had its “hold” rating restated by analysts at Needham & Company LLC in a report issued on Tuesday.
Other analysts have also recently issued reports about the company. William Blair reaffirmed a “buy” rating on shares of Viavi Solutions in a research report on Monday, June 6th. MKM Partners raised their price objective on Viavi Solutions from $8.00 to $8.50 and gave the company a “buy” rating in a research report on Monday, June 6th. Zacks Investment Research raised Viavi Solutions from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a research report on Wednesday, August 17th. Morgan Stanley reaffirmed a “hold” rating and issued a $6.00 price objective on shares of Viavi Solutions in a research report on Friday, August 12th. Finally, Jefferies Group raised their price objective on Viavi Solutions from $5.75 to $7.00 and gave the company a “hold” rating in a research report on Friday, August 12th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Viavi Solutions currently has an average rating of “Hold” and an average target price of $7.45.
Shares of Viavi Solutions (NASDAQ:VIAV) opened at 7.42 on Tuesday. Viavi Solutions has a 12 month low of $4.68 and a 12 month high of $7.94. The company’s market capitalization is $1.72 billion. The firm has a 50-day moving average price of $7.55 and a 200-day moving average price of $6.93.
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Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Thursday, August 11th. The company reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.01. The firm earned $224.10 million during the quarter, compared to the consensus estimate of $220.39 million. Viavi Solutions had a positive return on equity of 6.67% and a negative net margin of 10.95%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same period last year, the company earned $0.13 earnings per share. On average, equities research analysts predict that Viavi Solutions will post $0.35 EPS for the current year.
In other Viavi Solutions news, SVP Ralph Rondinone sold 10,573 shares of Viavi Solutions stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $7.59, for a total value of $80,249.07. Following the completion of the transaction, the senior vice president now directly owns 15,664 shares of the company’s stock, valued at approximately $118,889.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Luke M. Scrivanich sold 14,415 shares of Viavi Solutions stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $7.84, for a total value of $113,013.60. Following the completion of the transaction, the senior vice president now directly owns 12,686 shares of the company’s stock, valued at $99,458.24. The disclosure for this sale can be found here. 0.77% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. bought a new position in shares of Viavi Solutions during the first quarter valued at $3,934,000. BlackRock Institutional Trust Company N.A. acquired a new position in shares of Viavi Solutions during the first quarter valued at about $39,789,000. BlackRock Fund Advisors acquired a new position in shares of Viavi Solutions during the first quarter valued at about $79,931,000. BlackRock Group LTD acquired a new position in shares of Viavi Solutions during the first quarter valued at about $1,947,000. Finally, BlackRock Inc. acquired a new position in shares of Viavi Solutions during the first quarter valued at about $202,000. 87.21% of the stock is owned by hedge funds and other institutional investors.
About Viavi Solutions
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).
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