Viavi Solutions (NASDAQ:VIAV) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Viavi Solutions (NASDAQ:VIAV) in a report released on Friday, Benzinga reports.

Several other research firms have also recently weighed in on VIAV. StockNews.com raised Viavi Solutions from a hold rating to a buy rating in a report on Friday, April 12th. Northland Securities raised their target price on shares of Viavi Solutions from $12.00 to $17.00 and gave the company an outperform rating in a research note on Wednesday, March 6th. Morgan Stanley boosted their price target on shares of Viavi Solutions from $9.00 to $11.00 and gave the stock an equal weight rating in a research note on Wednesday, March 6th. Susquehanna raised their price objective on shares of Viavi Solutions from $12.00 to $14.00 and gave the company a positive rating in a research report on Thursday, March 7th. Finally, Rosenblatt Securities cut their target price on shares of Viavi Solutions from $15.00 to $13.00 and set a buy rating for the company in a research report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Viavi Solutions currently has an average rating of Moderate Buy and a consensus target price of $12.00.

Viavi Solutions Trading Down 2.6 %

VIAV stock opened at $7.37 on Friday. The stock has a 50-day simple moving average of $9.07 and a two-hundred day simple moving average of $9.05. The company has a quick ratio of 3.35, a current ratio of 3.81 and a debt-to-equity ratio of 0.90. Viavi Solutions has a twelve month low of $7.10 and a twelve month high of $11.65.

Viavi Solutions (NASDAQ:VIAV) last posted its earnings results on Thursday, May 2nd. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $246.00 million during the quarter, compared to analysts’ expectations of $249.08 million. Viavi Solutions had a positive return on equity of 4.65% and a negative net margin of 0.42%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.02 earnings per share. As a group, sell-side analysts predict that Viavi Solutions will post 0.22 EPS for the current year.

Insider Buying and Selling

In other news, EVP Paul Mcnab sold 15,004 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $10.62, for a total transaction of $159,342.48. Following the transaction, the executive vice president now directly owns 57,940 shares of the company’s stock, valued at $615,322.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Paul Mcnab sold 15,004 shares of Viavi Solutions stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $10.62, for a total value of $159,342.48. Following the transaction, the executive vice president now directly owns 57,940 shares of the company’s stock, valued at $615,322.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kevin Christopher Siebert sold 13,967 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $10.70, for a total transaction 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. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Park Avenue Securities LLC purchased a new position in shares of Viavi Solutions during the first quarter valued at approximately $99,000. Coldstream Capital Management Inc. boosted its holdings in Viavi Solutions by 13.4% in the third quarter. Coldstream Capital Management Inc. now owns 11,922 shares of the communications equipment provider’s stock valued at $109,000 after acquiring an additional 1,411 shares in the last quarter. Versor Investments LP purchased a new position in Viavi Solutions during the 4th quarter valued at $110,000. Quadrant Capital Group LLC raised its holdings in Viavi Solutions by 49.0% in the 4th quarter. Quadrant Capital Group LLC now owns 12,019 shares of the communications equipment provider’s stock worth $121,000 after purchasing an additional 3,952 shares in the last quarter. Finally, Heritage Wealth Management LLC purchased a new stake in shares of Viavi Solutions in the 4th quarter worth about $150,000. Institutional investors own 95.54% of the company’s stock.

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.