Viavi Solutions (NASDAQ:VIAV) Upgraded to “B” at TheStreet

TheStreet upgraded shares of Viavi Solutions (NASDAQ:VIAV) from a c+ rating to a b rating in a research report released on Thursday, TheStreetRatingsTable reports.

Other research analysts have also issued research reports about the company. BidaskClub raised Viavi Solutions from a buy rating to a strong-buy rating in a report on Thursday. JPMorgan Chase & Co. raised Viavi Solutions from an underweight rating to a neutral rating and lifted their target price for the company from $12.00 to $13.00 in a report on Monday, April 22nd. Zacks Investment Research lowered Viavi Solutions from a hold rating to a sell rating in a report on Friday, July 5th. Northland Securities set a $16.00 target price on Viavi Solutions and gave the company a buy rating in a report on Tuesday, June 11th. Finally, Morgan Stanley set a $13.00 target price on Viavi Solutions and gave the company a hold rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $14.00.

Shares of Viavi Solutions stock opened at $13.77 on Thursday. Viavi Solutions has a 52-week low of $9.17 and a 52-week high of $14.95. The stock’s 50-day simple moving average is $14.22 and its 200 day simple moving average is $13.08. The stock has a market capitalization of $3.23 billion, a P/E ratio of 26.48 and a beta of 0.98. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.86 and a current ratio of 3.19.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings data on Thursday, August 15th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.01. Viavi Solutions had a positive return on equity of 15.88% and a negative net margin of 3.25%. The business had revenue of $289.70 million for the quarter, compared to analysts’ expectations of $279.18 million. During the same period in the previous year, the business posted $0.14 EPS. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. Equities research analysts forecast that Viavi Solutions will post 0.6 EPS for the current fiscal year.

In other Viavi Solutions news, CFO Amar Maletira sold 2,806 shares of Viavi Solutions stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $14.00, for a total transaction of $39,284.00. Following the completion of the transaction, the chief financial officer now owns 251,720 shares of the company’s stock, valued at approximately $3,524,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 22,556 shares of company stock valued at $307,093 in the last ninety days. Insiders own 0.50% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. 361 Capital LLC purchased a new position in Viavi Solutions during the 1st quarter valued at about $2,877,000. Parametrica Management Ltd purchased a new position in shares of Viavi Solutions during the first quarter worth about $257,000. Penserra Capital Management LLC purchased a new position in shares of Viavi Solutions during the first quarter worth about $110,000. Rothschild & Co. Asset Management US Inc. purchased a new position in shares of Viavi Solutions during the first quarter worth about $26,300,000. Finally, Eagle Asset Management Inc. grew its holdings in shares of Viavi Solutions by 62.8% during the first quarter. Eagle Asset Management Inc. now owns 917,288 shares of the communications equipment provider’s stock worth $11,356,000 after purchasing an additional 353,853 shares in the last quarter. 93.33% of the stock is owned by institutional investors and hedge funds.

Viavi Solutions Company Profile

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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