BidaskClub upgraded shares of Viavi Solutions Inc. (NASDAQ:VIAV) from a hold rating to a buy rating in a research report report published on Tuesday.

VIAV has been the subject of several other reports. Zacks Investment Research upgraded Viavi Solutions from a hold rating to a buy rating and set a $13.00 price target for the company in a research note on Tuesday, May 9th. Jefferies Group LLC upgraded Viavi Solutions from a hold rating to a buy rating and upped their price target for the stock from $9.50 to $14.00 in a research note on Friday, May 5th. Stifel Nicolaus upped their price target on Viavi Solutions from $8.50 to $9.50 and gave the stock a hold rating in a research note on Wednesday, May 3rd. Finally, B. Riley upgraded Viavi Solutions from a neutral rating to a buy rating and set a $14.00 price target for the company in a research note on Friday, July 21st. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Viavi Solutions has an average rating of Buy and an average price target of $11.41.

Shares of Viavi Solutions (NASDAQ VIAV) traded up 0.18% during midday trading on Tuesday, reaching $11.00. 1,817,540 shares of the company were exchanged. The stock has a market capitalization of $2.50 billion, a P/E ratio of 30.39 and a beta of 1.35. Viavi Solutions has a 12-month low of $6.96 and a 12-month high of $11.89. The company has a 50 day moving average price of $10.99 and a 200-day moving average price of $10.42.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings data on Tuesday, May 2nd. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.02. The company had revenue of $196 million during the quarter, compared to the consensus estimate of $196.85 million. Viavi Solutions had a return on equity of 8.57% and a net margin of 9.83%. On average, analysts forecast that Viavi Solutions will post $0.36 earnings per share for the current fiscal year.

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In other news, SVP Luke M. Scrivanich sold 4,691 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $11.39, for a total transaction of $53,430.49. Following the sale, the senior vice president now directly owns 22,707 shares of the company’s stock, valued at approximately $258,632.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Paul Mcnab sold 3,702 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $11.52, for a total value of $42,647.04. The disclosure for this sale can be found here. Insiders have sold a total of 12,791 shares of company stock worth $144,657 over the last ninety days. Insiders own 0.35% of the company’s stock.

Several hedge funds have recently modified their holdings of VIAV. World Asset Management Inc boosted its stake in shares of Viavi Solutions by 1.1% in the second quarter. World Asset Management Inc now owns 14,912 shares of the communications equipment provider’s stock valued at $157,000 after buying an additional 155 shares during the period. OppenheimerFunds Inc. boosted its stake in shares of Viavi Solutions by 0.4% in the first quarter. OppenheimerFunds Inc. now owns 67,211 shares of the communications equipment provider’s stock valued at $720,000 after buying an additional 238 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Viavi Solutions by 1.6% in the first quarter. State of Alaska Department of Revenue now owns 25,530 shares of the communications equipment provider’s stock valued at $273,000 after buying an additional 390 shares during the period. Jennison Associates LLC boosted its stake in shares of Viavi Solutions by 0.9% in the first quarter. Jennison Associates LLC now owns 134,633 shares of the communications equipment provider’s stock valued at $1,443,000 after buying an additional 1,245 shares during the period. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Viavi Solutions by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 93,800 shares of the communications equipment provider’s stock valued at $1,006,000 after buying an additional 1,300 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Viavi Solutions Company Profile

Viavi Solutions Inc (Viavi) is a provider of network test, monitoring and assurance solutions to communications service providers, enterprises and their ecosystems. The Company also offers thin film optical coatings, providing light management solutions to anti-counterfeiting, consumer and industrial, government and healthcare and other markets.

Analyst Recommendations for Viavi Solutions (NASDAQ:VIAV)

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