Viavi Solutions Inc. (VIAV) Stock Rating Lowered by Zacks Investment Research
Viavi Solutions Inc. (NASDAQ:VIAV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.
According to Zacks, “Viavi Solutions Inc. provides software and hardware platforms and instruments for telecommunications service providers, wireless operators, cable operators, network-equipment manufacturers and enterprises. The Company offers installation, commissioning, scripting, custom analytics, integration, business intelligence consulting, operational assistance, field and lab testing, technical training, maintenance, and support services. Its operating segment consists of Network and Service Enablement, Communications and Commercial Optical Products and Optical Security and Performance Products. Viavi Solutions Inc., formerly known as JDS Uniphase Corporation, is based in Milpitas, Calif. “
VIAV has been the topic of several other reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research report on Tuesday, September 20th. B. Riley reaffirmed a “neutral” rating and set a $6.75 target price on shares of Viavi Solutions in a research report on Wednesday, August 10th. MKM Partners reaffirmed a “buy” rating and set a $8.50 target price on shares of Viavi Solutions in a research report on Monday, September 19th. Morgan Stanley reaffirmed a “hold” rating and set a $6.00 target price on shares of Viavi Solutions in a research report on Friday, August 12th. Finally, Jefferies Group boosted their price target on Viavi Solutions from $5.75 to $7.00 and gave the company a “hold” rating in a research note on Friday, August 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Viavi Solutions currently has a consensus rating of “Hold” and a consensus target price of $7.88.
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Viavi Solutions (NASDAQ:VIAV) opened at 7.43 on Thursday. Viavi Solutions has a 12 month low of $4.68 and a 12 month high of $7.93. The stock’s market capitalization is $1.73 billion. The firm has a 50-day moving average price of $7.52 and a 200 day moving average price of $7.01.
Viavi Solutions (NASDAQ:VIAV) last announced 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. Viavi Solutions had a positive return on equity of 6.67% and a negative net margin of 10.95%. The company had revenue of $224.10 million for the quarter, compared to analyst estimates of $220.39 million. During the same period in the prior year, the company posted $0.13 EPS. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities analysts anticipate that Viavi Solutions will post $0.35 earnings per share for the current year.
In other news, EVP Paul Mcnab sold 35,535 shares of the company’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $7.41, for a total value of $263,314.35. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Ralph Rondinone sold 10,573 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 15,664 shares in the company, valued at approximately $118,889.76. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. Nuveen Asset Management LLC bought a new stake in shares of Viavi Solutions during the second quarter worth approximately $103,000. Legal & General Group Plc increased its position in shares of Viavi Solutions by 76.6% in the first quarter. Legal & General Group Plc now owns 15,565 shares of the company’s stock worth $107,000 after buying an additional 6,749 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Viavi Solutions by 0.6% in the second quarter. Hsbc Holdings PLC now owns 17,438 shares of the company’s stock worth $116,000 after buying an additional 98 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Viavi Solutions during the second quarter worth about $121,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Viavi Solutions during the second quarter worth about $130,000. 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).
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