Zacks Investment Research downgraded shares of Viavi Solutions Inc (NASDAQ:VIAV) from a hold rating to a sell rating in a report issued on Thursday, November 2nd.
According to Zacks, “Viavi Solutions Inc. provides software and hardware platforms and instruments for telecommunications service providers, wireless operators, cable operators, network-equipment manufacturers and enterprises. The Company offers installation, commissioning, scripting, custom analytics, integration, business intelligence consulting, operational assistance, field and lab testing, technical training, maintenance, and support services. Its operating segment consists of Network and Service Enablement, Communications and Commercial Optical Products and Optical Security and Performance Products. Viavi Solutions Inc., formerly known as JDS Uniphase Corporation, is based in Milpitas, Calif. “
Other equities analysts also recently issued research reports about the company. B. Riley reissued a buy rating and set a $14.00 price target on shares of Viavi Solutions in a research report on Tuesday, August 15th. BidaskClub downgraded Viavi Solutions from a buy rating to a hold rating in a research report on Tuesday, August 1st. MKM Partners boosted their price target on Viavi Solutions from $11.00 to $12.00 and gave the stock a buy rating in a research report on Wednesday, August 16th. Stifel Nicolaus reissued a hold rating and set a $11.00 price target on shares of Viavi Solutions in a research report on Wednesday, August 16th. Finally, Needham & Company LLC restated a hold rating on shares of Viavi Solutions in a report on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $12.78.
Viavi Solutions (NASDAQ:VIAV) traded up $0.10 during mid-day trading on Thursday, reaching $8.65. The company’s stock had a trading volume of 1,314,900 shares, compared to its average volume of 3,113,824. The company has a market capitalization of $1,944.45, a price-to-earnings ratio of 28.50, a PEG ratio of 1.40 and a beta of 1.17. Viavi Solutions has a 52-week low of $7.56 and a 52-week high of $11.89. The company has a current ratio of 2.20, a quick ratio of 2.10 and a debt-to-equity ratio of 0.47.
Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Wednesday, November 1st. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. The business had revenue of $195.20 million for the quarter, compared to the consensus estimate of $183.89 million. Viavi Solutions had a return on equity of 8.99% and a net margin of 10.57%. Viavi Solutions’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 earnings per share. sell-side analysts expect that Viavi Solutions will post 0.31 earnings per share for the current year.
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In other Viavi Solutions news, EVP Paul Mcnab sold 8,915 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $10.04, for a total transaction of $89,506.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard Belluzzo sold 10,000 shares of the company’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $9.54, for a total value of $95,400.00. The disclosure for this sale can be found here. Insiders have sold 100,151 shares of company stock valued at $972,975 over the last 90 days. Corporate insiders own 0.59% of the company’s stock.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Viavi Solutions by 48,994.6% during the first quarter. BlackRock Inc. now owns 30,339,979 shares of the communications equipment provider’s stock worth $325,243,000 after buying an additional 30,278,180 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Viavi Solutions by 0.8% during the second quarter. Vanguard Group Inc. now owns 21,052,725 shares of the communications equipment provider’s stock worth $221,685,000 after buying an additional 158,549 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Viavi Solutions by 2.2% during the second quarter. Capital Research Global Investors now owns 16,251,481 shares of the communications equipment provider’s stock worth $171,128,000 after buying an additional 352,207 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Viavi Solutions by 36.1% during the second quarter. Renaissance Technologies LLC now owns 6,628,606 shares of the communications equipment provider’s stock worth $69,799,000 after buying an additional 1,756,862 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Viavi Solutions by 4.8% during the first quarter. State Street Corp now owns 5,975,240 shares of the communications equipment provider’s stock worth $64,050,000 after buying an additional 271,658 shares in the last quarter. Institutional investors own 92.75% of the company’s stock.
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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