Viavi Solutions (NASDAQ:VIAV) Lowered to Neutral at Rosenblatt Securities

Rosenblatt Securities downgraded shares of Viavi Solutions (NASDAQ:VIAV) from a buy rating to a neutral rating in a research report report published on Wednesday morning, MarketBeat Ratings reports. Rosenblatt Securities currently has $8.25 price target on the communications equipment provider’s stock, down from their prior price target of $10.00.

Several other equities research analysts have also recently commented on VIAV. StockNews.com raised Viavi Solutions from a hold rating to a buy rating in a report on Friday, April 12th. Susquehanna cut Viavi Solutions from a positive rating to a neutral rating and set a $9.00 target price on the stock. in a report on Friday, May 3rd. Needham & Company LLC reissued a hold rating on shares of Viavi Solutions in a report on Friday, May 3rd. Northland Securities boosted their target price on Viavi Solutions from $12.00 to $17.00 and gave the stock an outperform rating in a report on Wednesday, March 6th. Finally, Argus upgraded shares of Viavi Solutions to a strong-buy rating in a research report on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Viavi Solutions currently has an average rating of Moderate Buy and an average price target of $11.65.

Viavi Solutions Stock Up 1.0 %

Shares of Viavi Solutions stock opened at $6.87 on Wednesday. The business has a 50-day moving average of $7.53 and a 200-day moving average of $8.88. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.81 and a quick ratio of 3.35. The company has a market capitalization of $1.53 billion, a PE ratio of -343.50 and a beta of 0.94. Viavi Solutions has a 1-year low of $6.60 and a 1-year high of $11.65.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly 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 4.65% and a negative net margin of 0.42%. The firm had revenue of $246.00 million during the quarter, compared to analyst estimates of $249.08 million. During the same quarter last year, the business posted $0.02 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. As a group, equities analysts forecast that Viavi Solutions will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Paul Mcnab sold 4,762 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $7.35, for a total transaction of $35,000.70. Following the transaction, the executive vice president now directly owns 49,777 shares in the company, valued at $365,860.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 14,985 shares of company stock valued at $109,969. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Viavi Solutions

Several large investors have recently bought and sold shares of the business. Headlands Technologies LLC acquired a new stake in Viavi Solutions in the first quarter worth $55,000. Park Avenue Securities LLC acquired a new stake in Viavi Solutions in the first quarter worth $99,000. Versor Investments LP bought a new stake in shares of Viavi Solutions during the fourth quarter worth $110,000. Quadrant Capital Group LLC increased its position in shares of Viavi Solutions by 49.0% during the fourth quarter. Quadrant Capital Group LLC now owns 12,019 shares of the communications equipment provider’s stock worth $121,000 after acquiring an additional 3,952 shares in the last quarter. Finally, Heritage Wealth Management LLC bought a new stake in shares of Viavi Solutions during the fourth quarter worth $150,000. 95.54% of the stock is currently owned by institutional investors and hedge funds.

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.