Viavi Solutions (NASDAQ:VIAV) Rating Reiterated by Needham & Company LLC

Viavi Solutions (NASDAQ:VIAV)‘s stock had its “hold” rating reiterated by equities research analysts at Needham & Company LLC in a research report issued on Friday, Benzinga reports.

VIAV has been the subject of a number of other research reports. StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Stifel Nicolaus reissued a “buy” rating and set a $13.00 price objective on shares of Viavi Solutions in a research report on Monday, April 1st. Susquehanna raised their price objective on Viavi Solutions from $12.00 to $14.00 and gave the company a “positive” rating in a research report on Thursday, March 7th. Northland Securities raised their price objective on Viavi Solutions from $12.00 to $17.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Finally, Morgan Stanley raised their price objective on Viavi Solutions from $9.00 to $11.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 6th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Viavi Solutions Stock Performance

Shares of VIAV stock opened at $7.56 on Friday. The stock has a fifty day moving average of $9.11 and a 200 day moving average of $9.04. Viavi Solutions has a 52 week low of $7.10 and a 52 week high of $11.65. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of -378.00 and a beta of 0.97. The company has a quick ratio of 2.72, a current ratio of 3.09 and a debt-to-equity ratio of 0.87.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Thursday, May 2nd. The communications equipment provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Viavi Solutions had a positive return on equity of 4.66% and a negative net margin of 0.42%. The business had revenue of $246.00 million during the quarter, compared to analysts’ expectations of $249.08 million. During the same period in the previous year, the business earned $0.02 EPS. The business’s revenue was down .7% compared to the same quarter last year. As a group, research analysts expect that Viavi Solutions will post 0.22 earnings per share for the current year.

Insider Activity

In other news, SVP Kevin Christopher Siebert sold 13,967 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was 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 directly owns 47,097 shares in the company, valued at $503,937.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Paul Mcnab sold 15,004 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $10.62, for a total transaction of $159,342.48. Following the completion of the transaction, the executive vice president now directly owns 57,940 shares in the company, valued at $615,322.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kevin Christopher Siebert sold 13,967 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $10.70, for a total value of $149,446.90. Following the transaction, the senior vice president now owns 47,097 shares of the company’s stock, valued at $503,937.90. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Viavi Solutions

Several large investors have recently bought and sold shares of VIAV. Norges Bank bought a new stake in Viavi Solutions in the 4th quarter worth about $24,608,000. Wellington Management Group LLP increased its holdings in Viavi Solutions by 9.0% in the 3rd quarter. Wellington Management Group LLP now owns 15,925,361 shares of the communications equipment provider’s stock worth $145,558,000 after buying an additional 1,321,599 shares in the last quarter. Westwood Holdings Group Inc. increased its holdings in Viavi Solutions by 20.2% in the 4th quarter. Westwood Holdings Group Inc. now owns 6,573,335 shares of the communications equipment provider’s stock worth $66,193,000 after buying an additional 1,103,687 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Viavi Solutions by 98.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,070,353 shares of the communications equipment provider’s stock worth $18,820,000 after buying an additional 1,025,987 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Viavi Solutions by 36.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,872,760 shares of the communications equipment provider’s stock worth $26,257,000 after buying an additional 768,759 shares in the last quarter. 95.54% of the stock is currently owned by institutional investors.

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.