Viavi Solutions Inc. (VIAV) Given Average Rating of “Buy” by Brokerages
Viavi Solutions Inc. (NASDAQ:VIAV) has been given a consensus rating of “Buy” by the twelve research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $12.39.
VIAV has been the subject of several research analyst reports. B. Riley restated a “buy” rating and set a $14.00 price target on shares of Viavi Solutions in a report on Tuesday, August 15th. MKM Partners raised their price target on Viavi Solutions from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, August 16th. BidaskClub upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. TheStreet cut Viavi Solutions from a “b” rating to a “c+” rating in a report on Tuesday, August 1st. Finally, Stifel Nicolaus restated a “hold” rating and set a $11.00 price target on shares of Viavi Solutions in a report on Thursday, August 3rd.
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In other news, VP Kevin Christopher Siebert sold 10,689 shares of Viavi Solutions stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $9.40, for a total value of $100,476.60. Following the completion of the transaction, the vice president now owns 14,968 shares in the company, valued at approximately $140,699.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Ralph Rondinone sold 27,272 shares of Viavi Solutions stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $9.44, for a total value of $257,447.68. Following the completion of the transaction, the senior vice president now owns 22,738 shares of the company’s stock, valued at approximately $214,646.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,694 shares of company stock valued at $883,564. Company insiders own 0.59% of the company’s stock.
Several institutional investors have recently made changes to their positions in VIAV. Essex Investment Management Co. LLC purchased a new position in shares of Viavi Solutions in the 2nd quarter worth approximately $109,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Viavi Solutions by 10.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,635 shares of the communications equipment provider’s stock worth $112,000 after purchasing an additional 1,003 shares during the period. Creative Planning boosted its holdings in shares of Viavi Solutions by 177.9% in the 2nd quarter. Creative Planning now owns 11,302 shares of the communications equipment provider’s stock worth $119,000 after purchasing an additional 7,235 shares during the period. BlueMountain Capital Management LLC purchased a new position in shares of Viavi Solutions in the 2nd quarter worth approximately $123,000. Finally, Sciencast Management LP purchased a new position in shares of Viavi Solutions in the 2nd quarter worth approximately $146,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.
Viavi Solutions (NASDAQ VIAV) traded down 0.53% during mid-day trading on Wednesday, reaching $9.43. The company had a trading volume of 1,154,481 shares. The firm has a 50-day moving average of $9.82 and a 200 day moving average of $10.55. Viavi Solutions has a 1-year low of $6.99 and a 1-year high of $11.89. The company has a market capitalization of $2.15 billion, a PE ratio of 13.34 and a beta of 1.31.
Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Tuesday, August 15th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. The firm had revenue of $198.10 million during the quarter, compared to analysts’ expectations of $196.22 million. Viavi Solutions had a return on equity of 8.46% and a net margin of 20.57%. The firm’s revenue was down 11.6% on a year-over-year basis. During the same quarter last year, the business posted $0.10 earnings per share. On average, analysts predict that Viavi Solutions will post $0.41 earnings per share for the current fiscal 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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