Viavi Solutions (NASDAQ:VIAV) Lifted to “Strong-Buy” at BidaskClub

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BidaskClub upgraded shares of Viavi Solutions (NASDAQ:VIAV) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday, August 15th, BidAskClub reports.

VIAV has been the topic of several other reports. ValuEngine lowered shares of Viavi Solutions from a buy rating to a hold rating in a report on Thursday, August 1st. TheStreet lowered shares of Viavi Solutions from a b- rating to a c+ rating in a report on Monday, June 3rd. Zacks Investment Research lowered shares of Viavi Solutions from a hold rating to a sell rating in a report on Friday, July 5th. JPMorgan Chase & Co. upgraded shares of Viavi Solutions from an underweight rating to a neutral rating and raised their target price for the company from $12.00 to $13.00 in a research note on Monday, April 22nd. Finally, Morgan Stanley set a $13.00 target price on shares of Viavi Solutions and gave the company a hold rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $14.50.

Shares of NASDAQ:VIAV traded down $0.06 during trading on Thursday, reaching $14.11. 957,560 shares of the company were exchanged, compared to its average volume of 1,861,734. The firm has a market capitalization of $3.24 billion, a PE ratio of 27.13 and a beta of 1.02. The business’s fifty day simple moving average is $14.09 and its 200-day simple moving average is $13.28. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.23 and a quick ratio of 2.87. Viavi Solutions has a 12-month low of $9.17 and a 12-month high of $14.95.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings data on Thursday, August 15th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.01. The company had revenue of $289.70 million for the quarter, compared to analyst estimates of $279.18 million. Viavi Solutions had a net margin of 0.48% and a return on equity of 16.75%. Viavi Solutions’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company posted $0.14 earnings per share. On average, sell-side analysts anticipate that Viavi Solutions will post 0.55 EPS for the current fiscal year.

In related news, SVP Luke M. Scrivanich sold 7,398 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $13.91, for a total transaction of $102,906.18. Following the completion of the transaction, the senior vice president now directly owns 46,295 shares in the company, valued at $643,963.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amar Maletira sold 14,844 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $13.79, for a total transaction of $204,698.76. Following the transaction, the chief financial officer now owns 254,526 shares of the company’s stock, valued at $3,509,913.54. The disclosure for this sale can be found here. Insiders have sold 31,567 shares of company stock valued at $437,259 over the last quarter. Insiders own 0.50% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. 361 Capital LLC acquired a new position in Viavi Solutions during the first quarter valued at $2,877,000. Bank of Montreal Can increased its holdings in Viavi Solutions by 9,777.3% in the second quarter. Bank of Montreal Can now owns 1,347,170 shares of the communications equipment provider’s stock valued at $17,904,000 after buying an additional 1,333,531 shares in the last quarter. Parametrica Management Ltd purchased a new position in Viavi Solutions in the first quarter valued at $257,000. Penserra Capital Management LLC purchased a new position in Viavi Solutions in the first quarter valued at $110,000. Finally, Rothschild & Co. Asset Management US Inc. purchased a new position in Viavi Solutions in the first quarter valued at $26,300,000. Institutional investors own 97.72% of the company’s stock.

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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Analyst Recommendations for Viavi Solutions (NASDAQ:VIAV)

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