Viavi Solutions Inc (NASDAQ:VIAV) Receives Consensus Rating of “Buy” from Brokerages

Viavi Solutions Inc (NASDAQ:VIAV) has been given an average rating of “Buy” by the twelve ratings firms that are currently covering the company, Marketbeat.com 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 objective among brokerages that have issued a report on the stock in the last year is $14.71.

Several analysts recently issued reports on VIAV shares. TheStreet downgraded shares of Viavi Solutions from a “b” rating to a “c+” rating in a research report on Tuesday, September 3rd. Needham & Company LLC set a $15.00 price target on shares of Viavi Solutions and gave the company a “buy” rating in a research report on Friday, August 16th. BidaskClub downgraded shares of Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 24th. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 price target on shares of Viavi Solutions in a research report on Friday, August 16th. Finally, B. Riley reissued a “buy” rating and issued a $16.00 price target on shares of Viavi Solutions in a research report on Friday, August 16th.

NASDAQ VIAV traded down $0.39 during mid-day trading on Thursday, hitting $14.46. The company’s stock had a trading volume of 1,859,782 shares, compared to its average volume of 2,210,674. The company’s 50 day simple moving average is $14.08 and its 200 day simple moving average is $13.31. Viavi Solutions has a twelve month low of $9.17 and a twelve month high of $15.00. The company has a current ratio of 3.23, a quick ratio of 2.87 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 27.80 and a beta of 1.02.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Thursday, August 15th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. Viavi Solutions had a net margin of 0.48% and a return on equity of 16.75%. The business had revenue of $289.70 million during the quarter, compared to the consensus estimate of $279.18 million. During the same quarter last year, the firm posted $0.14 EPS. Viavi Solutions’s revenue was up 9.7% compared to the same quarter last year. As a group, research analysts forecast that Viavi Solutions will post 0.55 EPS for the current year.

In other Viavi Solutions news, SVP Luke M. Scrivanich sold 7,398 shares of Viavi Solutions stock in a transaction on Friday, August 30th. The shares were sold at an average price of $13.91, for a total transaction of $102,906.18. Following the transaction, the senior vice president now directly owns 46,295 shares of the company’s stock, valued at approximately $643,963.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Ralph Rondinone sold 3,200 shares of Viavi Solutions stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $14.19, for a total transaction of $45,408.00. Following the transaction, the senior vice president now directly owns 27,398 shares in the company, valued at $388,777.62. The disclosure for this sale can be found here. Insiders have sold a total of 29,067 shares of company stock worth $403,984 over the last ninety days. Insiders own 0.50% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Viavi Solutions by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 24,589,402 shares of the communications equipment provider’s stock worth $326,793,000 after acquiring an additional 288,080 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Viavi Solutions by 38.3% during the 2nd quarter. Renaissance Technologies LLC now owns 4,442,088 shares of the communications equipment provider’s stock worth $59,035,000 after acquiring an additional 1,230,200 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Viavi Solutions by 1.9% during the 2nd quarter. Victory Capital Management Inc. now owns 3,693,891 shares of the communications equipment provider’s stock worth $49,092,000 after acquiring an additional 69,329 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of Viavi Solutions by 18.3% during the 1st quarter. Clearbridge Investments LLC now owns 3,423,335 shares of the communications equipment provider’s stock worth $42,381,000 after purchasing an additional 530,681 shares during the period. Finally, DNB Asset Management AS raised its stake in shares of Viavi Solutions by 25.6% during the 2nd quarter. DNB Asset Management AS now owns 3,271,930 shares of the communications equipment provider’s stock worth $43,484,000 after purchasing an additional 666,571 shares during the period. 94.70% of the stock is currently owned by hedge funds and other institutional investors.

Viavi Solutions Company Profile

Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military, and avionics customers worldwide. The company operates through Network Enablement, Service Enablement, and Optical Security and Performance Products segments.

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Analyst Recommendations for Viavi Solutions (NASDAQ:VIAV)

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