Viavi Solutions (VIAV) Stock Rating Lowered by BidaskClub

Viavi Solutions (NASDAQ:VIAV) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday.

Other analysts have also issued research reports about the company. Rosenblatt Securities restated a “buy” rating and set a $15.00 target price on shares of Viavi Solutions in a report on Sunday, February 10th. Northland Securities began coverage on Viavi Solutions in a report on Tuesday, February 12th. They set an “outperform” rating and a $15.00 target price for the company. TheStreet upgraded Viavi Solutions from a “c” rating to a “b-” rating in a report on Wednesday, February 6th. ValuEngine upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Finally, Zacks Investment Research upgraded Viavi Solutions from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Saturday, February 9th. One analyst has rated the stock with a sell rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $12.88.

Viavi Solutions stock opened at $12.23 on Wednesday. The company has a quick ratio of 2.70, a current ratio of 2.99 and a debt-to-equity ratio of 0.80. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 35.97 and a beta of 0.90. Viavi Solutions has a twelve month low of $9.11 and a twelve month high of $13.48.

Viavi Solutions (NASDAQ:VIAV) last posted its earnings results on Tuesday, February 5th. The communications equipment provider reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $298.40 million during the quarter, compared to analyst estimates of $280.93 million. Viavi Solutions had a positive return on equity of 15.82% and a negative net margin of 3.76%. Viavi Solutions’s revenue was up 47.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 earnings per share. Analysts anticipate that Viavi Solutions will post 0.55 earnings per share for the current fiscal year.

In other news, SVP Luke M. Scrivanich sold 4,810 shares of the stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $13.29, for a total transaction of $63,924.90. Following the completion of the sale, the senior vice president now owns 45,456 shares in the company, valued at approximately $604,110.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders have sold 6,915 shares of company stock valued at $91,685. Company insiders own 0.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of VIAV. Meeder Asset Management Inc. purchased a new stake in shares of Viavi Solutions during the 4th quarter valued at $31,000. Pearl River Capital LLC purchased a new stake in shares of Viavi Solutions during the 4th quarter valued at $45,000. First Quadrant L P CA purchased a new stake in shares of Viavi Solutions during the 4th quarter valued at $76,000. Oregon Public Employees Retirement Fund purchased a new stake in shares of Viavi Solutions during the 4th quarter valued at $87,000. Finally, LS Investment Advisors LLC lifted its holdings in shares of Viavi Solutions by 63.5% during the 4th quarter. LS Investment Advisors LLC now owns 10,817 shares of the communications equipment provider’s stock valued at $109,000 after purchasing an additional 4,202 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

About Viavi Solutions

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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