Viavi Solutions (NASDAQ:VIAV) Downgraded to “Hold” Rating by StockNews.com

Viavi Solutions (NASDAQ:VIAV) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Several other analysts have also recently issued reports on the company. B. Riley reduced their price objective on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Northland Securities increased their target price on Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus dropped their price objective on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a report on Tuesday, August 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 set a “neutral” rating and a $10.60 price target on the stock. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Viavi Solutions currently has an average rating of “Hold” and a consensus target price of $10.44.

Viavi Solutions Price Performance

NASDAQ:VIAV traded down $0.31 during trading hours on Thursday, hitting $9.88. 870,672 shares of the stock were exchanged, compared to its average volume of 1,783,567. Viavi Solutions has a 52-week low of $6.60 and a 52-week high of $11.32. The firm’s fifty day moving average price is $9.45 and its 200 day moving average price is $8.29. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. The company has a market cap of $2.19 billion, a P/E ratio of -58.11 and a beta of 0.90.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. The business had revenue of $238.20 million during 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 revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.05 earnings per share. As a group, equities research analysts anticipate that Viavi Solutions will post 0.19 EPS for the current fiscal year.

Insider Activity

In other Viavi Solutions news, EVP Paul Mcnab sold 5,920 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $8.45, for a total value of $50,024.00. Following the transaction, the executive vice president now owns 34,545 shares of the company’s stock, valued at $291,905.25. This trade represents a 14.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Masood Jabbar sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $8.20, for a total transaction of $123,000.00. Following the completion of the sale, the director now owns 228,514 shares in the company, valued at $1,873,814.80. The trade was a 6.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,949 shares of company stock worth $489,511. 1.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in VIAV. Federated Hermes Inc. boosted its holdings in Viavi Solutions by 98,561.6% during the second quarter. Federated Hermes Inc. now owns 187,457 shares of the communications equipment provider’s stock worth $1,288,000 after buying an additional 187,267 shares in the last quarter. Boston Partners bought a new stake in Viavi Solutions during the first quarter worth approximately $795,000. Louisiana State Employees Retirement System boosted its holdings in Viavi Solutions by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock worth $772,000 after buying an additional 2,100 shares in the last quarter. Leeward Investments LLC MA boosted its holdings in Viavi Solutions by 17.1% during the third quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider’s stock worth $15,385,000 after buying an additional 249,554 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in Viavi Solutions in the 3rd quarter worth approximately $105,000. Institutional investors and hedge funds own 95.54% of the company’s stock.

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.