Viavi Solutions (NASDAQ:VIAV) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Viavi Solutions (NASDAQ:VIAV) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

Other research analysts have also recently issued research reports about the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a report on Monday, December 16th. UBS Group initiated coverage on shares of Viavi Solutions in a research report on Tuesday, November 19th. They set a “neutral” rating and a $10.60 target price for the company. Morgan Stanley reiterated an “underweight” rating and issued a $9.50 price target (up previously from $8.00) on shares of Viavi Solutions in a report on Tuesday, December 17th. Stifel Nicolaus increased their price target on Viavi Solutions from $10.50 to $12.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Finally, Rosenblatt Securities increased their price objective on shares of Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.44.

Viavi Solutions Stock Up 0.2 %

Viavi Solutions stock opened at $10.35 on Tuesday. The stock’s fifty day moving average is $10.04 and its two-hundred day moving average is $8.70. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.71 and a quick ratio of 3.31. Viavi Solutions has a 1-year low of $6.60 and a 1-year high of $11.49. The stock has a market cap of $2.30 billion, a PE ratio of -60.88 and a beta of 0.92.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. The firm had revenue of $238.20 million for the quarter, compared to analysts’ expectations of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The firm’s revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.05 EPS. On average, sell-side analysts expect that Viavi Solutions will post 0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Luke M. Scrivanich sold 2,802 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $10.43, for a total value of $29,224.86. Following the sale, the senior vice president now directly owns 54,517 shares in the company, valued at approximately $568,612.31. This trade represents a 4.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $10.14, for a total transaction of $152,100.00. Following the transaction, the director now owns 225,333 shares of the company’s stock, valued at approximately $2,284,876.62. This represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,802 shares of company stock worth $318,875 over the last ninety days. Corporate insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On Viavi Solutions

Several hedge funds have recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in Viavi Solutions in the 3rd quarter worth about $25,000. Innealta Capital LLC acquired a new position in shares of Viavi Solutions in the second quarter valued at approximately $38,000. Quarry LP raised its holdings in Viavi Solutions by 419.7% in the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock valued at $50,000 after buying an additional 5,838 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Viavi Solutions during the 2nd quarter worth approximately $76,000. Finally, KBC Group NV boosted its position in Viavi Solutions by 53.0% during the 3rd quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock worth $85,000 after buying an additional 3,252 shares during the period. Institutional investors and hedge funds own 95.54% of the company’s stock.

About Viavi Solutions

Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.