Viavi Solutions Inc. (NASDAQ:VIAV) Rating Lowered to Sell at BidaskClub
Viavi Solutions Inc. (NASDAQ:VIAV) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.
Other analysts also recently issued research reports about the company. B. Riley reiterated a “neutral” rating and set a $8.75 price target on shares of Viavi Solutions in a research note on Saturday, May 6th. Stifel Nicolaus restated a “hold” rating and issued a $11.00 target price (up previously from $9.50) on shares of Viavi Solutions in a research note on Thursday, June 22nd. Zacks Investment Research upgraded Viavi Solutions from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Tuesday, June 27th. TheStreet downgraded Viavi Solutions from a “b” rating to a “c+” rating in a research note on Tuesday, August 1st. Finally, Jefferies Group LLC upgraded Viavi Solutions from a “hold” rating to a “buy” rating and upped their target price for the stock from $9.50 to $14.00 in a research note on Friday, May 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $12.09.
Viavi Solutions (NASDAQ VIAV) traded up 2.19% on Monday, reaching $10.75. The company’s stock had a trading volume of 4,161,295 shares. Viavi Solutions has a 1-year low of $6.96 and a 1-year high of $11.89. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 29.70 and a beta of 1.36. The firm’s 50 day moving average price is $10.90 and its 200-day moving average price is $10.60.
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In related news, SVP Luke M. Scrivanich sold 4,691 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $11.39, for a total value of $53,430.49. Following the completion of the transaction, the senior vice president now owns 22,707 shares of the company’s stock, valued at approximately $258,632.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 9,632 shares of company stock valued at $108,000 in the last ninety days. 0.35% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its position in Viavi Solutions by 0.9% in the first quarter. Jennison Associates LLC now owns 134,633 shares of the communications equipment provider’s stock worth $1,443,000 after buying an additional 1,245 shares during the last quarter. Wells Fargo & Company MN boosted its position in Viavi Solutions by 29.8% in the first quarter. Wells Fargo & Company MN now owns 499,643 shares of the communications equipment provider’s stock worth $5,356,000 after buying an additional 114,731 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new position in Viavi Solutions during the first quarter worth $2,144,000. First Mercantile Trust Co. acquired a new position in Viavi Solutions during the first quarter worth $155,000. Finally, Fisher Asset Management LLC boosted its position in Viavi Solutions by 2.2% in the first quarter. Fisher Asset Management LLC now owns 464,300 shares of the communications equipment provider’s stock worth $4,977,000 after buying an additional 10,075 shares during the last quarter. 94.47% of the stock is owned by institutional investors.
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.
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