Zacks Investment Research downgraded shares of Viavi Solutions (NASDAQ:VIAV) from a hold rating to a sell rating in a report published on Wednesday.
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. “
Several other equities analysts have also commented on VIAV. Needham & Company LLC reiterated a hold rating on shares of Viavi Solutions in a research note on Thursday, October 12th. Stifel Nicolaus reiterated a hold rating on shares of Viavi Solutions in a research note on Tuesday, October 24th. Rosenblatt Securities set a $13.00 price target on shares of Viavi Solutions and gave the company a buy rating in a research note on Wednesday, December 13th. Loop Capital started coverage on shares of Viavi Solutions in a research note on Monday, January 29th. They issued a hold rating and a $9.50 price target on the stock. Finally, Morgan Stanley increased their price target on shares of Viavi Solutions from $9.00 to $10.50 and gave the company an equal weight rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $11.93.
Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Thursday, February 1st. The communications equipment provider reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The company had revenue of $201.80 million for the quarter, compared to analyst estimates of $185.80 million. Viavi Solutions had a net margin of 3.94% and a return on equity of 9.60%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 earnings per share. equities research analysts anticipate that Viavi Solutions will post 0.31 EPS for the current fiscal year.
In other news, Director Richard Belluzzo sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $9.00, for a total transaction of $90,000.00. Following the transaction, the director now directly owns 198,910 shares in the company, valued at $1,790,190. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Luke M. Scrivanich sold 3,920 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $8.97, for a total transaction of $35,162.40. Following the transaction, the senior vice president now owns 27,629 shares in the company, valued at $247,832.13. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,710 shares of company stock worth $303,444. Insiders own 0.59% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Hartford Investment Management Co. purchased a new position in shares of Viavi Solutions during the third quarter worth approximately $102,000. Commonwealth Equity Services Inc purchased a new position in shares of Viavi Solutions during the third quarter worth approximately $111,000. US Bancorp DE grew its position in shares of Viavi Solutions by 635.8% during the fourth quarter. US Bancorp DE now owns 12,214 shares of the communications equipment provider’s stock worth $107,000 after acquiring an additional 10,554 shares during the last quarter. Sciencast Management LP purchased a new position in shares of Viavi Solutions during the second quarter worth approximately $146,000. Finally, LMR Partners LLP purchased a new position in shares of Viavi Solutions during the fourth quarter worth approximately $195,000. Institutional investors and hedge funds own 92.82% of the company’s stock.
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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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