Viavi Solutions (NASDAQ:VIAV) Given “Hold” Rating at Needham & Company LLC

Viavi Solutions (NASDAQ:VIAV)‘s stock had its “hold” rating restated by Needham & Company LLC in a note issued to investors on Monday,Benzinga reports.

A number of other equities analysts have also issued reports on the stock. Rosenblatt Securities raised their price target on shares of Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research report on Friday, November 1st. StockNews.com raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a report on Friday, December 6th. UBS Group assumed coverage on Viavi Solutions in a research report on Tuesday, November 19th. They set a “neutral” rating and a $10.60 price target on the stock. Finally, Northland Securities boosted their price objective on Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Viavi Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $10.44.

Viavi Solutions Stock Performance

Shares of VIAV opened at $11.05 on Monday. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. The firm has a market cap of $2.45 billion, a PE ratio of -65.00 and a beta of 0.92. Viavi Solutions has a 12 month low of $6.60 and a 12 month high of $11.49. The stock has a fifty day moving average price of $9.84 and a 200-day moving average price of $8.55.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The firm had revenue of $238.20 million for the quarter, compared to the consensus estimate of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. During the same quarter in the prior year, the company posted $0.05 earnings per share. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. Equities research analysts predict that Viavi Solutions will post 0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Viavi Solutions news, SVP Luke M. Scrivanich sold 3,029 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $8.86, for a total transaction of $26,836.94. Following the completion of the transaction, the senior vice president now directly owns 57,319 shares in the company, valued at approximately $507,846.34. This represents a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Masood Jabbar sold 15,000 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $10.14, for a total transaction of $152,100.00. Following the transaction, the director now directly owns 225,333 shares in the company, valued at approximately $2,284,876.62. The trade was a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,831 shares of company stock worth $345,712. 1.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Viavi Solutions

Several large investors have recently bought and sold shares of VIAV. Louisiana State Employees Retirement System increased its position in shares of Viavi Solutions by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock worth $772,000 after purchasing an additional 2,100 shares in the last quarter. nVerses Capital LLC boosted its stake in Viavi Solutions by 24.0% during the 3rd quarter. nVerses Capital LLC now owns 11,900 shares of the communications equipment provider’s stock worth $107,000 after purchasing an additional 2,300 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Viavi Solutions during the third quarter worth $25,000. KBC Group NV increased its holdings in shares of Viavi Solutions by 53.0% in the third quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock valued at $85,000 after purchasing an additional 3,252 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Viavi Solutions by 7.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,761 shares of the communications equipment provider’s stock worth $530,000 after purchasing an additional 4,043 shares during the period. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

About Viavi Solutions

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.