Viavi Solutions (NASDAQ:VIAV) Coverage Initiated by Analysts at UBS Group

UBS Group began coverage on shares of Viavi Solutions (NASDAQ:VIAV) in a research report released on Tuesday morning, Marketbeat.com reports. The brokerage issued a neutral rating and a $10.60 price objective on the communications equipment provider’s stock.

A number of other research firms have also recently commented on VIAV. B. Riley cut their target price on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Northland Securities increased their target price on Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Rosenblatt Securities boosted their target price on shares of Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research note on Friday, November 1st. Stifel Nicolaus reduced their price target on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a research report on Friday, November 1st. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.44.

Viavi Solutions Stock Performance

NASDAQ:VIAV opened at $9.75 on Tuesday. The firm has a market capitalization of $2.16 billion, a PE ratio of -57.35 and a beta of 0.90. The stock’s fifty day moving average is $9.24 and its 200 day moving average is $8.19. Viavi Solutions has a fifty-two week low of $6.60 and a fifty-two week high of $11.32. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.31 and a current ratio of 3.71.

Viavi Solutions (NASDAQ:VIAV) last announced its earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The business had revenue of $238.20 million for the quarter, compared to the consensus estimate of $240.09 million. During the same quarter in the prior year, the firm posted $0.05 earnings per share. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, sell-side analysts anticipate that Viavi Solutions will post 0.19 earnings per share for the current year.

Insider Buying and Selling at Viavi Solutions

In other news, Director Masood Jabbar sold 15,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $10.14, for a total transaction of $152,100.00. Following the transaction, the director now directly owns 225,333 shares in the company, valued at approximately $2,284,876.62. This trade represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Luke M. Scrivanich sold 3,029 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $8.86, for a total transaction of $26,836.94. Following the completion of the transaction, the senior vice president now directly owns 57,319 shares of the company’s stock, valued at $507,846.34. This trade represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,381 shares of company stock valued at $562,279. Company insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On Viavi Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new stake in shares of Viavi Solutions in the 3rd quarter valued at about $25,000. Innealta Capital LLC acquired a new stake in Viavi Solutions in the second quarter valued at approximately $38,000. Quarry LP grew its holdings in Viavi Solutions by 419.7% in the second quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock worth $50,000 after purchasing an additional 5,838 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of Viavi Solutions during the second quarter worth $52,000. Finally, KBC Group NV lifted its holdings in shares of Viavi Solutions by 53.0% during the 3rd quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock valued at $85,000 after purchasing an additional 3,252 shares during the last quarter. Hedge funds and other institutional investors own 95.54% of the company’s stock.

Viavi Solutions Company Profile

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.