Viavi Solutions’ (VIAV) “Hold” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Viavi Solutions (NASDAQ:VIAV) in a research note published on Friday, Benzinga reports.

A number of other equities analysts have also recently issued reports on the stock. Northland Securities lifted their target price on shares of Viavi Solutions from $12.00 to $17.00 and gave the stock an outperform rating in a research report on Wednesday, March 6th. Rosenblatt Securities reduced their target price on Viavi Solutions from $15.00 to $13.00 and set a buy rating on the stock in a research note on Wednesday, April 3rd. Stifel Nicolaus reissued a buy rating and set a $13.00 price target on shares of Viavi Solutions in a research report on Monday, April 1st. Susquehanna increased their price objective on Viavi Solutions from $12.00 to $14.00 and gave the company a positive rating in a research note on Thursday, March 7th. Finally, Morgan Stanley lifted their price objective on Viavi Solutions from $9.00 to $11.00 and gave the stock an equal weight rating in a research report on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Viavi Solutions presently has a consensus rating of Moderate Buy and a consensus target price of $12.00.

Viavi Solutions Price Performance

Shares of NASDAQ VIAV traded down $0.46 during trading on Friday, hitting $7.56. 4,038,279 shares of the company were exchanged, compared to its average volume of 1,411,188. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 378.00 and a beta of 0.97. Viavi Solutions has a 1 year low of $7.10 and a 1 year high of $11.65. The firm’s fifty day moving average price is $9.11 and its 200 day moving average price is $9.03. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.09 and a quick ratio of 2.72.

Viavi Solutions (NASDAQ:VIAV) last posted its earnings results on Thursday, May 2nd. The communications equipment provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Viavi Solutions had a positive return on equity of 4.66% and a negative net margin of 0.42%. The firm had revenue of $246.00 million for the quarter, compared to analysts’ expectations of $249.08 million. During the same quarter in the previous year, the firm posted $0.02 earnings per share. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. On average, sell-side analysts expect that Viavi Solutions will post 0.22 earnings per share for the current fiscal year.

Insider Activity

In other Viavi Solutions news, SVP Kevin Christopher Siebert sold 13,967 shares of Viavi Solutions stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $10.70, for a total value of $149,446.90. Following the completion of the sale, the senior vice president now owns 47,097 shares in the company, valued at approximately $503,937.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Paul Mcnab sold 15,004 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $10.62, for a total transaction of $159,342.48. Following the completion of the sale, the executive vice president now directly owns 57,940 shares in the company, valued at approximately $615,322.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Kevin Christopher Siebert sold 13,967 shares of Viavi Solutions stock in a transaction on Monday, March 11th. The shares were sold at an average price of $10.70, for a total value of $149,446.90. Following the completion of the transaction, the senior vice president now owns 47,097 shares in the company, valued at approximately $503,937.90. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Viavi Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Viavi Solutions during the 4th quarter worth about $24,608,000. Wellington Management Group LLP grew its stake in Viavi Solutions by 9.0% during the third quarter. Wellington Management Group LLP now owns 15,925,361 shares of the communications equipment provider’s stock worth $145,558,000 after buying an additional 1,321,599 shares during the period. Westwood Holdings Group Inc. increased its position in shares of Viavi Solutions by 20.2% in the fourth quarter. Westwood Holdings Group Inc. now owns 6,573,335 shares of the communications equipment provider’s stock worth $66,193,000 after acquiring an additional 1,103,687 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Viavi Solutions by 98.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,070,353 shares of the communications equipment provider’s stock valued at $18,820,000 after acquiring an additional 1,025,987 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Viavi Solutions by 36.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,872,760 shares of the communications equipment provider’s stock valued at $26,257,000 after acquiring an additional 768,759 shares in the last quarter. 95.54% of the stock is currently owned by institutional investors and hedge funds.

Viavi Solutions Company Profile

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.