Viavi Solutions (VIAV) Upgraded by Loop Capital to Buy
Viavi Solutions (NASDAQ:VIAV) was upgraded by Loop Capital from a “hold” rating to a “buy” rating in a note issued to investors on Monday, The Fly reports.
A number of other equities analysts have also recently weighed in on VIAV. Stifel Nicolaus upgraded Viavi Solutions from a “hold” rating to a “buy” rating and increased their price target for the stock from $10.00 to $12.00 in a report on Friday. Morgan Stanley increased their price target on Viavi Solutions from $9.00 to $10.50 and gave the stock an “equal weight” rating in a report on Friday. Zacks Investment Research cut Viavi Solutions from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. Rosenblatt Securities set a $13.00 price target on Viavi Solutions and gave the stock a “buy” rating in a report on Wednesday, December 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Viavi Solutions presently has an average rating of “Hold” and an average price target of $11.93.
Shares of Viavi Solutions (NASDAQ:VIAV) opened at $10.00 on Monday. The company has a quick ratio of 2.06, a current ratio of 2.18 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $2,274.22, a price-to-earnings ratio of 76.93, a price-to-earnings-growth ratio of 1.64 and a beta of 1.11. Viavi Solutions has a twelve month low of $8.34 and a twelve month high of $11.89.
In related news, SVP Luke M. Scrivanich sold 3,920 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $8.97, for a total transaction of $35,162.40. Following the completion of the transaction, the senior vice president now directly owns 27,629 shares in the company, valued at approximately $247,832.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul Mcnab sold 3,003 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $9.05, for a total value of $27,177.15. The disclosure for this sale can be found here. Insiders have sold a total of 33,710 shares of company stock valued at $303,444 over the last 90 days. 0.59% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Hartford Investment Management Co. purchased a new position in Viavi Solutions during the 3rd quarter valued at about $102,000. US Bancorp DE boosted its holdings in Viavi Solutions by 635.8% during the 4th quarter. US Bancorp DE now owns 12,214 shares of the communications equipment provider’s stock valued at $107,000 after acquiring an additional 10,554 shares during the period. Commonwealth Equity Services Inc purchased a new position in Viavi Solutions during the 3rd quarter valued at about $111,000. Sciencast Management LP purchased a new position in Viavi Solutions during the 2nd quarter valued at about $146,000. Finally, LMR Partners LLP purchased a new position in Viavi Solutions during the 4th quarter valued at about $195,000. Institutional investors own 92.82% of the company’s stock.
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About Viavi Solutions
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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