Viavi Solutions Inc (VIAV) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Viavi Solutions Inc (NASDAQ:VIAV) from a buy rating to a hold rating in a research note published on Wednesday, May 10th.

According to Zacks, “Viavi Solutions Inc. provides software and hardware platforms and instruments for telecommunications service providers, wireless operators, cable operators, network-equipment manufacturers and enterprises. The Company offers installation, commissioning, scripting, custom analytics, integration, business intelligence consulting, operational assistance, field and lab testing, technical training, maintenance, and support services. Its operating segment consists of Network and Service Enablement, Communications and Commercial Optical Products and Optical Security and Performance Products. Viavi Solutions Inc., formerly known as JDS Uniphase Corporation, is based in Milpitas, Calif. “

A number of other research firms have also issued reports on VIAV. Jefferies Group LLC upped their target price on Viavi Solutions from $8.50 to $9.50 and gave the company a hold rating in a research note on Wednesday, February 1st. TheStreet raised Viavi Solutions from a c+ rating to a b- rating in a research note on Thursday, March 2nd. Rosenblatt Securities initiated coverage on Viavi Solutions in a research note on Tuesday, March 14th. They issued a buy rating and a $17.20 target price on the stock. William Blair reaffirmed an outperform rating on shares of Viavi Solutions in a research note on Wednesday, February 1st. Finally, B. Riley reaffirmed a neutral rating and issued a $6.75 target price on shares of Viavi Solutions in a research note on Monday, January 30th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $10.77.

Viavi Solutions (NASDAQ:VIAV) last posted its earnings results on Tuesday, May 2nd. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Viavi Solutions had a return on equity of 8.22% and a net margin of 10.29%. The firm had revenue of $196 million for the quarter, compared to analyst estimates of $196.85 million.

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In related news, EVP Paul Mcnab sold 3,702 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $11.52, for a total value of $42,647.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Ralph Rondinone sold 10,556 shares of the stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $10.67, for a total value of $112,632.52. Following the completion of the sale, the senior vice president now owns 8,584 shares of the company’s stock, valued at $91,591.28. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

A number of hedge funds have recently made changes to their positions in VIAV. Bank of Nova Scotia bought a new stake in shares of Viavi Solutions during the first quarter valued at about $3,923,000. Metropolitan Life Insurance Co. NY increased its stake in shares of Viavi Solutions by 1.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 163,944 shares of the communications equipment provider’s stock valued at $1,757,000 after buying an additional 2,196 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Viavi Solutions during the first quarter valued at about $1,492,000. Shelton Capital Management bought a new stake in shares of Viavi Solutions during the first quarter valued at about $225,000. Finally, Nomura Holdings Inc. purchased a new position in Viavi Solutions during the first quarter worth $1,089,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Viavi Solutions Company Profile

Viavi Solutions Inc (Viavi) is a provider of network test, monitoring and assurance solutions to communications service providers, enterprises and their ecosystems. The Company also offers thin film optical coatings, providing light management solutions to anti-counterfeiting, consumer and industrial, government and healthcare and other markets.

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