Viavi Solutions Inc. (NASDAQ:VIAV) Receives Average Rating of “Hold” from Analysts
Viavi Solutions Inc. (NASDAQ:VIAV) has earned a consensus rating of “Hold” from the nine research firms that are covering the stock. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $7.13.
Several research firms have issued reports on VIAV. B. Riley downgraded Viavi Solutions from a “buy” rating to a “neutral” rating and set a $6.75 price objective on the stock. in a report on Monday, June 27th. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a research note on Tuesday, September 20th. Zacks Investment Research downgraded Viavi Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, September 3rd. Morgan Stanley reissued a “hold” rating and issued a $6.00 price target on shares of Viavi Solutions in a research note on Friday, August 12th. Finally, William Blair reissued an “outperform” rating on shares of Viavi Solutions in a research note on Friday, September 16th.
Viavi Solutions (NASDAQ:VIAV) traded up 1.10% during mid-day trading on Monday, reaching $7.33. The company had a trading volume of 335,690 shares. Viavi Solutions has a 12 month low of $4.68 and a 12 month high of $7.94. The stock’s market cap is $1.70 billion. The firm’s 50-day moving average price is $7.56 and its 200-day moving average price is $6.99.
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/2016/10/10/viavi-solutions-inc-nasdaqviav-receives-average-rating-of-hold-from-analysts.html
Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. Viavi Solutions had a positive return on equity of 6.67% and a negative net margin of 10.95%. The firm had revenue of $224.10 million for the quarter, compared to the consensus estimate of $220.39 million. During the same quarter in the prior year, the business earned $0.13 EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities research analysts forecast that Viavi Solutions will post $0.35 EPS for the current fiscal year.
In other Viavi Solutions news, EVP Paul Mcnab sold 36,690 shares of the stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $7.40, for a total transaction of $271,506.00. Following the completion of the transaction, the executive vice president now owns 27,936 shares in the company, valued at approximately $206,726.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Kevin Christopher Siebert sold 8,696 shares of the stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $7.31, for a total value of $63,567.76. Following the transaction, the vice president now owns 12,999 shares of the company’s stock, valued at approximately $95,022.69. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Viavi Solutions by 7.2% in the second quarter. Vanguard Group Inc. now owns 20,350,826 shares of the company’s stock worth $134,925,000 after buying an additional 1,362,371 shares during the period. BlackRock Fund Advisors boosted its position in shares of Viavi Solutions by 34.7% in the second quarter. BlackRock Fund Advisors now owns 15,693,979 shares of the company’s stock valued at $104,051,000 after buying an additional 4,042,252 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Viavi Solutions by 24.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,619,371 shares of the company’s stock valued at $43,886,000 after buying an additional 1,288,157 shares during the last quarter. BlackRock Institutional Trust Company N.A. bought a new position in shares of Viavi Solutions during the first quarter valued at $39,789,000. Finally, State Street Corp boosted its position in shares of Viavi Solutions by 52.7% in the second quarter. State Street Corp now owns 5,282,970 shares of the company’s stock valued at $35,028,000 after buying an additional 1,823,852 shares during the last quarter. Hedge funds and other institutional investors own 87.32% of the company’s stock.
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).
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.