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

Needham & Company LLC reaffirmed their hold rating on shares of Viavi Solutions (NASDAQ:VIAV) in a research note issued to investors on Monday morning,Benzinga reports.

Other research analysts have also recently issued research reports about the stock. Northland Securities upped their target price on shares of Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, November 1st. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Rosenblatt Securities raised their price objective on Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, UBS Group began coverage on Viavi Solutions in a report on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 target price for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $10.44.

Viavi Solutions Stock Down 3.5 %

Viavi Solutions stock opened at $10.15 on Monday. The stock’s fifty day moving average is $9.91 and its two-hundred day moving average is $8.59. The stock has a market cap of $2.25 billion, a PE ratio of -59.70 and a beta of 0.92. Viavi Solutions has a 1-year low of $6.60 and a 1-year high of $11.49. 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 (NASDAQ:VIAV) last issued its earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. The business had revenue of $238.20 million for the quarter, compared to analyst estimates of $240.09 million. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter last 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.

Insider Transactions at Viavi Solutions

In other news, SVP Luke M. Scrivanich sold 3,029 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $8.86, for a total transaction of $26,836.94. Following the completion of the sale, the senior vice president now owns 57,319 shares in the company, valued at $507,846.34. This represents a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Masood Jabbar sold 15,000 shares of Viavi Solutions stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $10.14, for a total transaction of $152,100.00. Following the completion of the transaction, the director now owns 225,333 shares in the company, valued at approximately $2,284,876.62. This trade represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,831 shares of company stock worth $345,712. Company insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Sanctuary Advisors LLC lifted its position in Viavi Solutions by 44.1% in the third quarter. Sanctuary Advisors LLC now owns 15,938 shares of the communications equipment provider’s stock valued at $144,000 after purchasing an additional 4,875 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Viavi Solutions by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 5,307,974 shares of the communications equipment provider’s stock valued at $47,887,000 after buying an additional 54,633 shares during the period. Barclays PLC boosted its position in shares of Viavi Solutions by 4.4% during the 3rd quarter. Barclays PLC now owns 538,261 shares of the communications equipment provider’s stock worth $4,856,000 after purchasing an additional 22,893 shares in the last quarter. MML Investors Services LLC boosted its holdings in Viavi Solutions by 34.3% during the third quarter. MML Investors Services LLC now owns 37,480 shares of the communications equipment provider’s stock worth $338,000 after buying an additional 9,580 shares in the last quarter. Finally, Dean Investment Associates LLC boosted its stake in shares of Viavi Solutions by 189.6% during the 3rd quarter. Dean Investment Associates LLC now owns 280,239 shares of the communications equipment provider’s stock worth $2,528,000 after acquiring an additional 183,481 shares in the last quarter. 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.