Viavi Solutions Inc. (VIAV) Given Consensus Recommendation of “Buy” by Brokerages
Viavi Solutions Inc. (NASDAQ:VIAV) has been given a consensus recommendation of “Buy” by the twelve brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $12.39.
Several analysts recently issued reports on VIAV shares. BidaskClub cut shares of Viavi Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $11.00 price objective (up previously from $9.50) on shares of Viavi Solutions in a research note on Thursday, June 22nd. B. Riley reaffirmed a “buy” rating and set a $14.00 price objective on shares of Viavi Solutions in a research note on Tuesday, August 15th. TheStreet cut shares of Viavi Solutions from a “b” rating to a “c+” rating in a research note on Tuesday, August 1st. Finally, Zacks Investment Research cut shares of Viavi Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, August 19th.
In related news, SVP Ralph Rondinone sold 4,569 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $9.83, for a total transaction of $44,913.27. Following the completion of the transaction, the senior vice president now owns 7,239 shares of the company’s stock, valued at approximately $71,159.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kevin Christopher Siebert sold 4,591 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $10.11, for a total transaction of $46,415.01. Following the transaction, the vice president now directly owns 6,600 shares of the company’s stock, valued at approximately $66,726. The disclosure for this sale can be found here. In the last three months, insiders sold 24,797 shares of company stock valued at $249,912. Corporate insiders own 0.35% of the company’s stock.
Several large investors have recently bought and sold shares of VIAV. BlackRock Inc. boosted its position in shares of Viavi Solutions by 48,994.6% during the 1st quarter. BlackRock Inc. now owns 30,339,979 shares of the communications equipment provider’s stock worth $325,243,000 after purchasing an additional 30,278,180 shares during the period. Teachers Advisors LLC boosted its position in shares of Viavi Solutions by 568.2% during the 1st quarter. Teachers Advisors LLC now owns 2,600,431 shares of the communications equipment provider’s stock worth $27,877,000 after purchasing an additional 2,211,252 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Viavi Solutions during the 2nd quarter worth approximately $19,852,000. Macquarie Group Ltd. purchased a new position in shares of Viavi Solutions during the 2nd quarter worth approximately $19,260,000. Finally, Newbrook Capital Advisors LP purchased a new position in shares of Viavi Solutions during the 2nd quarter worth approximately $23,942,000. 92.53% of the stock is owned by hedge funds and other institutional investors.
Viavi Solutions (NASDAQ:VIAV) traded down 1.41% on Friday, reaching $9.79. The company had a trading volume of 4,269,811 shares. The firm has a market capitalization of $2.23 billion, a P/E ratio of 13.85 and a beta of 1.35. Viavi Solutions has a 1-year low of $6.99 and a 1-year high of $11.89. The company’s 50-day moving average price is $10.39 and its 200 day moving average price is $10.62.
Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings data on Tuesday, August 15th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. Viavi Solutions had a net margin of 20.57% and a return on equity of 8.46%. The company had revenue of $198.10 million during the quarter, compared to analysts’ expectations of $196.22 million. During the same quarter in the prior year, the company earned $0.10 EPS. Viavi Solutions’s revenue was down 11.6% compared to the same quarter last year. On average, equities analysts forecast that Viavi Solutions will post $0.41 EPS for the current year.
About Viavi Solutions
Viavi Solutions Inc (Viavi) is a provider of network test, monitoring and assurance solutions to communications service providers, enterprises and their ecosystems. The Company also offers thin film optical coatings, providing light management solutions to anti-counterfeiting, consumer and industrial, government and healthcare and other markets.
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