Viavi Solutions (NASDAQ:VIAV) Cut to “Buy” at StockNews.com

StockNews.com lowered shares of Viavi Solutions (NASDAQ:VIAVGet Rating) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday morning.

Several other research firms have also recently commented on VIAV. JPMorgan Chase & Co. upped their target price on shares of Viavi Solutions from $18.00 to $19.00 in a research report on Thursday, January 20th. TheStreet cut shares of Viavi Solutions from a b rating to a c+ rating in a research report on Wednesday, March 9th. Finally, B. Riley increased their price objective on shares of Viavi Solutions from $19.50 to $21.00 in a report on Friday, February 4th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Buy and an average target price of $19.67.

Shares of NASDAQ:VIAV traded down $0.19 during trading on Thursday, reaching $14.53. 12,077 shares of the company’s stock traded hands, compared to its average volume of 1,804,036. The company has a debt-to-equity ratio of 0.98, a current ratio of 4.14 and a quick ratio of 3.74. Viavi Solutions has a 12 month low of $14.02 and a 12 month high of $18.14. The company has a 50 day moving average of $15.51 and a 200-day moving average of $16.04.

Viavi Solutions (NASDAQ:VIAVGet Rating) last posted its earnings results on Tuesday, May 3rd. The communications equipment provider reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. Viavi Solutions had a negative net margin of 0.23% and a positive return on equity of 21.57%. The firm had revenue of $315.50 million during the quarter, compared to analysts’ expectations of $309.30 million. During the same quarter in the prior year, the firm earned $0.14 EPS. Viavi Solutions’s quarterly revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts anticipate that Viavi Solutions will post 0.73 EPS for the current year.

In related news, SVP Luke M. Scrivanich sold 6,690 shares of the stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $15.75, for a total transaction of $105,367.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paul Mcnab sold 6,576 shares of the stock in a transaction that occurred on Monday, February 14th. The shares were sold at an average price of $16.75, for a total transaction of $110,148.00. The disclosure for this sale can be found here. Insiders sold 16,798 shares of company stock valued at $274,671 over the last quarter. Insiders own 1.63% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Xponance Inc. lifted its position in shares of Viavi Solutions by 5.1% in the 4th quarter. Xponance Inc. now owns 12,803 shares of the communications equipment provider’s stock valued at $226,000 after acquiring an additional 623 shares in the last quarter. Metropolitan Life Insurance Co NY increased its stake in shares of Viavi Solutions by 1.2% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 60,815 shares of the communications equipment provider’s stock worth $1,072,000 after purchasing an additional 694 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of Viavi Solutions by 89.3% during the 4th quarter. First Horizon Advisors Inc. now owns 1,505 shares of the communications equipment provider’s stock worth $26,000 after purchasing an additional 710 shares during the last quarter. First Republic Investment Management Inc. grew its stake in Viavi Solutions by 3.5% in the 3rd quarter. First Republic Investment Management Inc. now owns 22,298 shares of the communications equipment provider’s stock valued at $351,000 after buying an additional 756 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in Viavi Solutions by 4.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 23,076 shares of the communications equipment provider’s stock valued at $407,000 after purchasing an additional 991 shares during the period. Institutional investors and hedge funds own 93.76% of the company’s stock.

About Viavi Solutions (Get Rating)

Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, government, and avionics customers worldwide. The company operates through three segments: Network Enablement (NE), Service Enablement (SE), and Optical Security and Performance Products (OSP) segments.

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