Viavi Solutions (NASDAQ:VIAV) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Viavi Solutions (NASDAQ:VIAV) from a sell rating to a hold rating in a report released on Monday morning, Zacks.com reports. The firm currently has $16.00 price objective on the communications equipment provider’s stock.

According to Zacks, “Viavi boasts a comprehensive product portfolio that offers end-to-end network visibility and analytics that optimize complex physical and virtual networks. Its products are well positioned to meet the evolving industry trends, given its technology prowess, product depth and wide customer base. Viavi pursues a holistic growth model with strategic acquisitions and focused organic improvement plans. Demand for sophisticated anti-counterfeiting features, optical filters and sensors offer lucrative growth opportunities. However, seasonality patterns and exposure to foreign currency fluctuations remain headwinds. Continued Sino-U.S. trade hostilities have hurt the supply-chain management of Viavi as most of the manufacturing partners are located in China, denting its profitability. Soft growth outlook for the 3D sensing business remains another concern.”

Several other brokerages also recently weighed in on VIAV. Rosenblatt Securities reaffirmed a buy rating and set a $15.00 target price on shares of Viavi Solutions in a research note on Friday, August 16th. Stifel Nicolaus set a $15.00 price objective on Viavi Solutions and gave the company a buy rating in a research note on Friday, August 16th. BidaskClub downgraded Viavi Solutions from a strong-buy rating to a buy rating in a research note on Saturday, August 24th. Needham & Company LLC set a $16.00 price objective on Viavi Solutions and gave the company a buy rating in a research note on Friday, September 13th. Finally, TheStreet downgraded Viavi Solutions from a b rating to a c+ rating in a research note on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Viavi Solutions has an average rating of Buy and a consensus target price of $15.25.

Viavi Solutions stock opened at $14.53 on Monday. The company has a current ratio of 3.23, a quick ratio of 2.87 and a debt-to-equity ratio of 0.80. The firm has a market cap of $3.33 billion, a PE ratio of 27.94 and a beta of 1.02. The stock’s 50 day simple moving average is $14.09 and its two-hundred day simple moving average is $13.36. Viavi Solutions has a 12 month low of $9.17 and a 12 month high of $15.17.

Viavi Solutions (NASDAQ:VIAV) last announced its earnings results on Thursday, August 15th. The communications equipment provider reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.01. The business had revenue of $289.70 million during the quarter, compared to the consensus estimate of $279.18 million. Viavi Solutions had a return on equity of 16.75% and a net margin of 0.48%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 EPS. On average, equities research analysts forecast that Viavi Solutions will post 0.55 EPS for the current year.

In other Viavi Solutions news, SVP Luke M. Scrivanich sold 7,398 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $13.91, for a total value of $102,906.18. Following the completion of the sale, the senior vice president now directly owns 46,295 shares in the company, valued at approximately $643,963.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Amar Maletira sold 2,806 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $14.00, for a total value of $39,284.00. Following the completion of the sale, the chief financial officer now owns 251,720 shares of the company’s stock, valued at $3,524,080. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,223 shares of company stock valued at $199,285. 0.50% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the business. Advisory Services Network LLC grew its holdings in Viavi Solutions by 88.5% in the 2nd quarter. Advisory Services Network LLC now owns 2,354 shares of the communications equipment provider’s stock valued at $31,000 after buying an additional 1,105 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Viavi Solutions in the 2nd quarter valued at $94,000. Meeder Asset Management Inc. grew its holdings in Viavi Solutions by 108.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 7,321 shares of the communications equipment provider’s stock valued at $98,000 after buying an additional 3,801 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in Viavi Solutions in the 1st quarter valued at $110,000. Finally, NumerixS Investment Technologies Inc grew its holdings in Viavi Solutions by 144.7% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 9,300 shares of the communications equipment provider’s stock valued at $124,000 after buying an additional 5,500 shares in the last quarter. Institutional investors own 94.68% 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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