Viavi Solutions (VIAV) Announces Quarterly Earnings Results

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Viavi Solutions (NASDAQ:VIAV) posted its quarterly earnings data on Thursday. The communications equipment provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03, MarketWatch Earnings reports. Viavi Solutions had a positive return on equity of 15.82% and a negative net margin of 3.76%. The firm had revenue of $265.20 million for the quarter, compared to the consensus estimate of $259.86 million. During the same quarter last year, the company earned $0.13 earnings per share. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. Viavi Solutions updated its Q4 guidance to $0.14-$0.16 EPS.

Shares of VIAV opened at $13.28 on Friday. The company has a market cap of $3.04 billion, a P/E ratio of 39.06 and a beta of 0.90. Viavi Solutions has a 12-month low of $9.12 and a 12-month high of $13.59. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.70 and a current ratio of 2.99.

In related news, SVP Luke M. Scrivanich sold 4,810 shares of Viavi Solutions stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $13.29, for a total transaction of $63,924.90. Following the sale, the senior vice president now owns 45,456 shares of the company’s stock, valued at approximately $604,110.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 6,915 shares of company stock worth $91,685 in the last three months. 0.50% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of VIAV. Man Group plc raised its stake in Viavi Solutions by 167.8% during the 3rd quarter. Man Group plc now owns 228,879 shares of the communications equipment provider’s stock valued at $2,595,000 after purchasing an additional 143,402 shares during the period. MetLife Investment Advisors LLC raised its stake in Viavi Solutions by 51.3% during the 3rd quarter. MetLife Investment Advisors LLC now owns 157,500 shares of the communications equipment provider’s stock valued at $1,786,000 after purchasing an additional 53,410 shares during the period. Legal & General Group Plc raised its stake in Viavi Solutions by 7.7% during the 3rd quarter. Legal & General Group Plc now owns 527,888 shares of the communications equipment provider’s stock valued at $5,974,000 after purchasing an additional 37,648 shares during the period. Vanguard Group Inc. increased its stake in Viavi Solutions by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 23,357,949 shares of the communications equipment provider’s stock worth $264,879,000 after acquiring an additional 418,120 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in Viavi Solutions by 1.3% in the 3rd quarter. Clearbridge Investments LLC now owns 2,822,461 shares of the communications equipment provider’s stock worth $32,007,000 after acquiring an additional 37,478 shares during the last quarter. 92.70% of the stock is currently owned by institutional investors.

Several research analysts have recently commented on the company. Zacks Investment Research raised Viavi Solutions from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Saturday, February 9th. BidaskClub downgraded Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 5th. TheStreet raised Viavi Solutions from a “c” rating to a “b-” rating in a research note on Wednesday, February 6th. ValuEngine raised Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Finally, JPMorgan Chase & Co. raised Viavi Solutions from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $12.00 to $13.00 in a research note on Monday, April 22nd. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $12.99.

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Viavi Solutions Company Profile

Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military, and avionics customers worldwide. The company operates through Network Enablement, Service Enablement, and Optical Security and Performance Products segments.

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Earnings History for Viavi Solutions (NASDAQ:VIAV)

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