Zacks Investment Research Downgrades Viavi Solutions (VIAV) to Sell

Viavi Solutions (NASDAQ:VIAV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

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. “

Several other brokerages have also commented on VIAV. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a report on Thursday, October 12th. Morgan Stanley upped their target price on Viavi Solutions from $9.00 to $10.50 and gave the stock an “equal weight” rating in a research note on Friday, February 2nd. Stifel Nicolaus reaffirmed a “hold” rating on shares of Viavi Solutions in a research note on Tuesday, October 24th. Loop Capital raised Viavi Solutions from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a research note on Monday. Finally, Rosenblatt Securities set a $13.00 target price on Viavi Solutions and gave the stock a “buy” rating in a research note on Wednesday, December 13th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $11.93.

Shares of Viavi Solutions (NASDAQ VIAV) traded down $0.29 during midday trading on Wednesday, hitting $9.70. The stock had a trading volume of 3,170,033 shares, compared to its average volume of 2,711,786. Viavi Solutions has a 52 week low of $8.34 and a 52 week high of $11.89. The company has a quick ratio of 2.06, a current ratio of 2.18 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $2,220.00, a price-to-earnings ratio of 74.92, a price-to-earnings-growth ratio of 1.62 and a beta of 1.80.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings data on Thursday, February 1st. The communications equipment provider reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.02. Viavi Solutions had a return on equity of 9.60% and a net margin of 3.94%. The company had revenue of $201.80 million during the quarter, compared to analyst estimates of $185.80 million. During the same quarter in the previous year, the firm earned $0.10 earnings per share. Viavi Solutions’s revenue was down 2.3% on a year-over-year basis. analysts anticipate that Viavi Solutions will post 0.3 EPS for the current year.

In related news, EVP Paul Mcnab sold 3,003 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $9.05, for a total transaction of $27,177.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Belluzzo sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $9.00, for a total value of $90,000.00. Following the transaction, the director now owns 198,910 shares of the company’s stock, valued at approximately $1,790,190. The disclosure for this sale can be found here. Insiders sold 33,710 shares of company stock valued at $303,444 in the last quarter. Corporate 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 stake in shares of Viavi Solutions in the second quarter worth $109,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Viavi Solutions by 10.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,635 shares of the communications equipment provider’s stock valued at $112,000 after buying an additional 1,003 shares during the last quarter. Hartford Investment Management Co. purchased a new stake in shares of Viavi Solutions during the third quarter valued at $102,000. Creative Planning boosted its position in shares of Viavi Solutions by 177.9% during the second quarter. Creative Planning now owns 11,302 shares of the communications equipment provider’s stock valued at $119,000 after buying an additional 7,235 shares during the last quarter. Finally, BlueMountain Capital Management LLC purchased a new stake in shares of Viavi Solutions during the second quarter valued at $123,000. Institutional investors own 92.82% of the company’s stock.

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Viavi Solutions Company Profile

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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