Needham & Company LLC Reiterates Hold Rating for Viavi Solutions Inc. (VIAV)
Viavi Solutions Inc. (NASDAQ:VIAV)‘s stock had its “hold” rating reaffirmed by analysts at Needham & Company LLC in a note issued to investors on Tuesday.
Other equities research analysts also recently issued research reports about the stock. Jefferies Group increased their target price on shares of Viavi Solutions from $5.75 to $7.00 and gave the company a “hold” rating in a research note on Friday, August 12th. Zacks Investment Research upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $8.75 price target on the stock in a report on Thursday, September 8th. MKM Partners restated a “buy” rating and issued a $8.50 price target on shares of Viavi Solutions in a report on Monday. William Blair restated an “outperform” rating on shares of Viavi Solutions in a report on Friday, September 16th. Finally, Morgan Stanley restated a “hold” rating and issued a $6.00 price target on shares of Viavi Solutions in a report on Friday, August 12th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $7.45.
Viavi Solutions (NASDAQ:VIAV) opened at 7.37 on Tuesday. The firm’s market cap is $1.71 billion. Viavi Solutions has a one year low of $4.68 and a one year high of $7.94. The stock’s 50 day moving average is $7.57 and its 200 day moving average is $6.93.
Viavi Solutions (NASDAQ:VIAV) last issued its earnings results on Thursday, August 11th. The company reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.01. Viavi Solutions had a negative net margin of 10.95% and a positive return on equity of 6.67%. The firm earned $224.10 million during the quarter, compared to analyst estimates of $220.39 million. During the same quarter in the prior year, the business earned $0.13 earnings per share. Viavi Solutions’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, analysts predict that Viavi Solutions will post $0.35 earnings per share for the current fiscal year.
In other news, SVP Ralph Rondinone sold 10,573 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $7.59, for a total value of $80,249.07. Following the sale, the senior vice president now directly owns 15,664 shares in the company, valued at approximately $118,889.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paul Mcnab sold 36,690 shares of the firm’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $7.40, for a total transaction of $271,506.00. Following the completion of the sale, the executive vice president now owns 27,936 shares in the company, valued at $206,726.40. The disclosure for this sale can be found here. Company insiders own 0.77% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Mason Street Advisors LLC purchased a new stake in Viavi Solutions during the second quarter worth $301,000. Schwab Charles Investment Management Inc. boosted its stake in Viavi Solutions by 66.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,040,617 shares of the company’s stock worth $6,900,000 after buying an additional 416,706 shares in the last quarter. Stifel Financial Corp purchased a new stake in Viavi Solutions during the second quarter worth $436,000. Amalgamated Bank boosted its stake in Viavi Solutions by 2.4% in the second quarter. Amalgamated Bank now owns 27,895 shares of the company’s stock worth $204,000 after buying an additional 665 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Viavi Solutions by 303.3% in the second quarter. Legal & General Group Plc now owns 62,766 shares of the company’s stock worth $417,000 after buying an additional 47,201 shares in the last quarter. Institutional investors and hedge funds own 87.21% of the company’s stock.
About Viavi Solutions
Viavi Solutions Inc, formerly JDS Uniphase Corporation, is a provider of network and service enablement solutions and optical products for telecommunications service providers, wireless operators, cable operators, network-equipment manufacturers (NEMs) and enterprises. The Company operates in three business segments: Network and Service Enablement (NSE), Communications and Commercial Optical Products (CCOP), and Optical Security and Performance Products (OSP).
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