Viavi Solutions (NASDAQ:VIAV) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Viavi Solutions (NASDAQ:VIAV) from a sell rating to a hold rating in a report released on Friday morning, Zacks.com reports.

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. “

VIAV has been the topic of several other reports. BidaskClub downgraded shares of Viavi Solutions from a strong-buy rating to a buy rating in a research report on Wednesday, March 13th. JPMorgan Chase & Co. upgraded shares of Viavi Solutions from an underweight rating to a neutral rating and raised their price objective for the company from $12.00 to $13.00 in a research report on Monday, April 22nd. ValuEngine downgraded shares of Viavi Solutions from a buy rating to a hold rating in a research report on Thursday, May 23rd. Morgan Stanley set a $13.00 price objective on shares of Viavi Solutions and gave the company a hold rating in a research report on Friday, May 3rd. Finally, Northland Securities set a $16.00 price objective on shares of Viavi Solutions and gave the company a buy rating in a research report on Tuesday, June 11th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $13.81.

Shares of VIAV stock opened at $13.29 on Friday. The company has a market cap of $3.04 billion, a P/E ratio of 26.60 and a beta of 0.98. Viavi Solutions has a one year low of $9.17 and a one year high of $14.00. The company’s fifty day moving average price is $12.89. The company has a quick ratio of 2.86, a current ratio of 3.19 and a debt-to-equity ratio of 0.79.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.03. The firm had revenue of $265.20 million for the quarter, compared to the consensus estimate of $259.86 million. Viavi Solutions had a negative net margin of 3.25% and a positive return on equity of 15.88%. The company’s revenue was up 20.9% on a year-over-year basis. During the same period last year, the firm earned $0.13 EPS. As a group, equities analysts expect that Viavi Solutions will post 0.53 earnings per share for the current year.

In related news, CFO Amar Maletira sold 14,844 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $13.79, for a total transaction of $204,698.76. Following the completion of the transaction, the chief financial officer now directly owns 254,526 shares of the company’s stock, valued at $3,509,913.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 19,750 shares of company stock valued at $267,809 over the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of VIAV. Bank of Montreal Can lifted its stake in Viavi Solutions by 15.4% in the fourth quarter. Bank of Montreal Can now owns 11,698 shares of the communications equipment provider’s stock worth $118,000 after purchasing an additional 1,564 shares during the last quarter. Comerica Bank lifted its stake in Viavi Solutions by 1.1% in the fourth quarter. Comerica Bank now owns 222,614 shares of the communications equipment provider’s stock worth $2,411,000 after purchasing an additional 2,498 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new stake in Viavi Solutions in the fourth quarter worth $873,000. Prudential Financial Inc. lifted its stake in Viavi Solutions by 28.9% in the fourth quarter. Prudential Financial Inc. now owns 510,902 shares of the communications equipment provider’s stock worth $5,135,000 after purchasing an additional 114,643 shares during the last quarter. Finally, First Trust Advisors LP bought a new stake in Viavi Solutions in the fourth quarter worth $2,534,000. 92.52% of the stock is owned by institutional investors.

About Viavi Solutions

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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