Viavi Solutions (NASDAQ:VIAV) Hits New 12-Month Low at $7.08

Viavi Solutions Inc. (NASDAQ:VIAVGet Free Report) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $7.08 and last traded at $7.13, with a volume of 54793 shares trading hands. The stock had previously closed at $7.16.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Argus upgraded Viavi Solutions to a “strong-buy” rating in a research note on Thursday, May 9th. Susquehanna downgraded shares of Viavi Solutions from a “positive” rating to a “neutral” rating and set a $9.00 price objective for the company. in a report on Friday, May 3rd. Rosenblatt Securities lowered their target price on shares of Viavi Solutions from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Morgan Stanley raised their price target on shares of Viavi Solutions from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 6th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $13.00 price objective on shares of Viavi Solutions in a research note on Monday, April 1st. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $12.00.

Read Our Latest Stock Analysis on VIAV

Viavi Solutions Trading Down 1.3 %

The company has a market cap of $1.58 billion, a price-to-earnings ratio of -358.00 and a beta of 0.94. The company has a quick ratio of 3.35, a current ratio of 3.81 and a debt-to-equity ratio of 0.90. The company’s fifty day moving average price is $7.63 and its two-hundred day moving average price is $8.93.

Viavi Solutions (NASDAQ:VIAVGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). The business had revenue of $246.00 million during the quarter, compared to the consensus estimate of $249.08 million. Viavi Solutions had a negative net margin of 0.42% and a positive return on equity of 4.65%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.02 EPS. Research analysts expect that Viavi Solutions Inc. will post 0.12 earnings per share for the current year.

Insider Activity at Viavi Solutions

In other Viavi Solutions news, EVP Paul Mcnab sold 6,822 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $7.33, for a total transaction of $50,005.26. Following the transaction, the executive vice president now owns 42,955 shares of the company’s stock, valued at approximately $314,860.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold a total of 14,985 shares of company stock valued at $109,969 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Viavi Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in Viavi Solutions in the first quarter valued at about $55,000. Park Avenue Securities LLC acquired a new position in Viavi Solutions during the 1st quarter valued at about $99,000. Versor Investments LP acquired a new stake in shares of Viavi Solutions during the 4th quarter worth approximately $110,000. Quadrant Capital Group LLC lifted its holdings in Viavi Solutions by 49.0% in the fourth quarter. Quadrant Capital Group LLC now owns 12,019 shares of the communications equipment provider’s stock valued at $121,000 after buying an additional 3,952 shares during the period. Finally, Heritage Wealth Management LLC bought a new position in Viavi Solutions in the fourth quarter valued at approximately $150,000. Institutional investors own 95.54% of the company’s stock.

Viavi Solutions Company Profile

(Get Free Report)

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.

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