Viavi Solutions’ (VIAV) Buy Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Viavi Solutions (NASDAQ:VIAV) in a research note issued to investors on Friday morning, AnalystRatings.com reports. Rosenblatt Securities currently has a $15.00 price objective on the communications equipment provider’s stock.

“We expect the 5G testing business to maintain its growth engines as more countries deploy 5G networks in 2020. We believe Viavi will continue to benefit from the 5G equipment installation stage as the company can sell system testing products and field testing services.”,” the firm’s analyst commented.

Several other research firms have also commented on VIAV. JPMorgan Chase & Co. upgraded shares of Viavi Solutions from an underweight rating to a neutral rating and raised their price target for the company from $12.00 to $13.00 in a report on Monday, April 22nd. Northland Securities set a $16.00 price target on shares of Viavi Solutions and gave the company a buy rating in a report on Tuesday, June 11th. Morgan Stanley set a $13.00 price target on shares of Viavi Solutions and gave the company a hold rating in a report on Friday, May 3rd. BidaskClub upgraded shares of Viavi Solutions from a buy rating to a strong-buy rating in a report on Thursday. Finally, Zacks Investment Research lowered shares of Viavi Solutions from a hold rating to a sell rating in a report on Friday, July 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $14.00.

Shares of VIAV traded up $0.17 during mid-day trading on Friday, hitting $13.77. The company had a trading volume of 6,882,300 shares, compared to its average volume of 1,566,630. The business’s 50-day simple moving average is $14.22 and its 200-day simple moving average is $13.08. The company has a quick ratio of 2.86, a current ratio of 3.19 and a debt-to-equity ratio of 0.79. Viavi Solutions has a 1-year low of $9.17 and a 1-year high of $14.95. The stock has a market cap of $3.23 billion, a PE ratio of 26.48 and a beta of 0.98.

Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Thursday, August 15th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.01. Viavi Solutions had a negative net margin of 3.25% and a positive return on equity of 15.88%. The business had revenue of $289.70 million for the quarter, compared to analysts’ expectations of $279.18 million. During the same period last year, the company earned $0.14 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. On average, sell-side analysts expect that Viavi Solutions will post 0.6 earnings per share for the current year.

In related news, CFO Amar Maletira sold 2,806 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $14.00, for a total value of $39,284.00. Following the transaction, the chief financial officer now owns 251,720 shares in the company, valued at $3,524,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 22,556 shares of company stock worth $307,093 in the last 90 days. 0.50% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Viavi Solutions by 1.2% during the second quarter. Vanguard Group Inc. now owns 24,589,402 shares of the communications equipment provider’s stock worth $326,793,000 after buying an additional 288,080 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Viavi Solutions by 38.3% during the second quarter. Renaissance Technologies LLC now owns 4,442,088 shares of the communications equipment provider’s stock worth $59,035,000 after buying an additional 1,230,200 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Viavi Solutions by 1.9% during the second quarter. Victory Capital Management Inc. now owns 3,693,891 shares of the communications equipment provider’s stock worth $49,092,000 after buying an additional 69,329 shares in the last quarter. Clearbridge Investments LLC grew its position in shares of Viavi Solutions by 18.3% during the first quarter. Clearbridge Investments LLC now owns 3,423,335 shares of the communications equipment provider’s stock worth $42,381,000 after buying an additional 530,681 shares in the last quarter. Finally, DNB Asset Management AS grew its position in shares of Viavi Solutions by 25.6% during the second quarter. DNB Asset Management AS now owns 3,271,930 shares of the communications equipment provider’s stock worth $43,484,000 after buying an additional 666,571 shares in the last quarter. Institutional investors own 93.33% of the company’s stock.

About Viavi Solutions

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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