Viavi Solutions Inc (NASDAQ:VIAV) Given Average Rating of “Buy” by Brokerages

Shares of Viavi Solutions Inc (NASDAQ:VIAV) have earned an average rating of “Buy” from the thirteen research firms that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $13.93.

Several brokerages have issued reports on VIAV. Zacks Investment Research raised shares of Viavi Solutions from a “sell” rating to a “hold” rating in a research report on Friday. BidaskClub cut shares of Viavi Solutions from a “buy” rating to a “hold” rating in a research note on Monday, June 24th. Northland Securities set a $16.00 target price on shares of Viavi Solutions and gave the stock a “buy” rating in a research note on Tuesday, June 11th. TheStreet cut shares of Viavi Solutions from a “b-” rating to a “c+” rating in a research note on Monday, June 3rd. Finally, ValuEngine cut shares of Viavi Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd.

In other 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 value of $204,698.76. Following the completion of the sale, the chief financial officer now owns 254,526 shares in the company, valued at approximately $3,509,913.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 19,750 shares of company stock valued at $267,809 in the last 90 days. Company insiders own 0.50% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Investment Advisory Services LLC acquired a new stake in shares of Viavi Solutions in the first quarter valued at about $68,000. Penserra Capital Management LLC acquired a new stake in shares of Viavi Solutions in the first quarter valued at about $110,000. Bank of Montreal Can lifted its stake in shares of 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 valued at $118,000 after purchasing an additional 1,564 shares during the period. Signition LP acquired a new stake in shares of Viavi Solutions in the first quarter valued at about $156,000. Finally, Toth Financial Advisory Corp acquired a new stake in shares of Viavi Solutions in the first quarter valued at about $173,000. Hedge funds and other institutional investors own 92.52% of the company’s stock.

Viavi Solutions stock traded down $0.01 during midday trading on Friday, hitting $13.29. 8,878,207 shares of the company’s stock were exchanged, compared to its average volume of 2,180,477. Viavi Solutions has a 12-month low of $9.17 and a 12-month high of $14.00. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.86 and a current ratio of 3.19. The stock has a market cap of $3.04 billion, a PE ratio of 39.09 and a beta of 0.98. The business has a 50 day moving average price of $12.89.

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

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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Analyst Recommendations for Viavi Solutions (NASDAQ:VIAV)

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