Viavi Solutions Inc. (VIAV) Given Buy Rating at MKM Partners
Viavi Solutions Inc. (NASDAQ:VIAV)‘s stock had its “buy” rating reaffirmed by equities research analysts at MKM Partners in a research report issued to clients and investors on Monday. They presently have a $8.50 price target on the stock. MKM Partners’ target price points to a potential upside of 15.80% from the company’s previous close.
Other research analysts have also issued reports about the company. Zacks Investment Research upgraded Viavi Solutions from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a report on Wednesday, August 17th. William Blair restated a “buy” rating on shares of Viavi Solutions in a research note on Monday, June 6th. Morgan Stanley restated a “hold” rating and issued a $6.00 target price on shares of Viavi Solutions in a research note on Friday, August 12th. Jefferies Group upped their target price on Viavi Solutions from $5.75 to $7.00 and gave the company a “hold” rating in a research note on Friday, August 12th. Finally, Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research note on Monday, August 15th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Viavi Solutions currently has an average rating of “Hold” and an average price target of $7.45.
Viavi Solutions (NASDAQ:VIAV) traded up 0.95% during midday trading on Monday, reaching $7.41. 938,553 shares of the company traded hands. The company has a 50-day moving average price of $7.52 and a 200-day moving average price of $6.90. Viavi Solutions has a 12-month low of $4.68 and a 12-month high of $7.94. The company’s market cap is $1.72 billion.
Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings results on Thursday, August 11th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Viavi Solutions had a positive return on equity of 6.67% and a negative net margin of 10.95%. The company earned $224.10 million during the quarter, compared to analyst estimates of $220.39 million. During the same period in the previous year, the company earned $0.13 earnings per share. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. 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 stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $7.59, for a total transaction of $80,249.07. Following the sale, the senior vice president now owns 15,664 shares in the company, valued at $118,889.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kevin Christopher Siebert sold 6,938 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $7.73, for a total value of $53,630.74. Following the sale, the vice president now owns 691 shares in the company, valued at approximately $5,341.43. The disclosure for this sale can be found here. Company insiders own 0.77% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. acquired a new position in shares of Viavi Solutions during the first quarter valued at approximately $3,934,000. BlackRock Institutional Trust Company N.A. acquired a new position in shares of Viavi Solutions during the first quarter valued at approximately $39,789,000. BlackRock Fund Advisors acquired a new position in shares of Viavi Solutions during the first quarter valued at approximately $79,931,000. BlackRock Group LTD acquired a new position in shares of Viavi Solutions during the first quarter valued at approximately $1,947,000. Finally, BlackRock Inc. acquired a new position in shares of Viavi Solutions during the first quarter valued at approximately $202,000. Institutional investors 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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