Viavi Solutions Inc. (VIAV) Upgraded at JPMorgan Chase & Co.
Viavi Solutions Inc. (NASDAQ:VIAV) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Tuesday, The Fly reports.
Other research analysts also recently issued reports about the company. Zacks Investment Research upgraded Viavi Solutions from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a report on Wednesday, August 17th. MKM Partners reiterated a “buy” rating and issued a $8.50 price target on shares of Viavi Solutions in a report on Monday, September 19th. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a report on Monday, August 15th. Jefferies Group lifted their price target on Viavi Solutions from $5.75 to $7.00 and gave the company a “hold” rating in a report on Friday, August 12th. Finally, Morgan Stanley reiterated a “hold” rating and issued a $6.00 price target on shares of Viavi Solutions in a report on Friday, August 12th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Viavi Solutions presently has an average rating of “Hold” and a consensus target price of $7.45.
Shares of Viavi Solutions (NASDAQ:VIAV) opened at 7.32 on Tuesday. Viavi Solutions has a 52-week low of $4.68 and a 52-week high of $7.94. The stock’s market cap is $1.70 billion. The company’s 50-day moving average price is $7.54 and its 200-day moving average price is $7.00.
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Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data on Thursday, August 11th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $224.10 million for 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%. Viavi Solutions’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the business posted $0.13 EPS. On average, equities research analysts forecast that Viavi Solutions will post $0.35 earnings per share for the current fiscal year.
In other news, EVP Paul Mcnab sold 36,690 shares of the firm’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $7.40, for a total value of $271,506.00. Following the completion of the sale, the executive vice president now owns 27,936 shares of the company’s stock, valued at approximately $206,726.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Luke M. Scrivanich sold 34,299 shares of the firm’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $7.31, for a total value of $250,725.69. Following the completion of the sale, the senior vice president now directly owns 41,438 shares of the company’s stock, valued at approximately $302,911.78. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. purchased a new stake in shares of Viavi Solutions during the first quarter worth approximately $39,789,000. BlackRock Group LTD bought a new position in shares of Viavi Solutions during the first quarter valued at about $1,947,000. BlackRock Inc. bought a new position in shares of Viavi Solutions during the first quarter valued at about $202,000. Aperio Group LLC bought a new position in shares of Viavi Solutions during the first quarter valued at about $427,000. Finally, Texas Permanent School Fund bought a new position in shares of Viavi Solutions during the first quarter valued at about $1,271,000. 87.32% 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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