Viavi Solutions (VIAV) Upgraded to “Sell” at BidaskClub

BidaskClub upgraded shares of Viavi Solutions (NASDAQ:VIAV) from a strong sell rating to a sell rating in a report issued on Monday morning.

Other equities analysts have also recently issued reports about the stock. Loop Capital began coverage on shares of Viavi Solutions in a research report on Monday, January 29th. They issued a hold rating and a $9.50 price target for the company. Morgan Stanley upped 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 report on Friday, February 2nd. Stifel Nicolaus restated a hold rating on shares of Viavi Solutions in a research report on Tuesday, October 24th. Needham & Company LLC restated a hold rating on shares of Viavi Solutions in a research report on Thursday, October 12th. Finally, Rosenblatt Securities set a $13.00 price target on shares of Viavi Solutions and gave the company a buy rating in a research report on Wednesday, December 13th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $11.93.

Viavi Solutions (VIAV) opened at $9.77 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.18 and a quick ratio of 2.06. Viavi Solutions has a 12-month low of $8.34 and a 12-month high of $11.89. The stock has a market cap of $2,220.00, a P/E ratio of 75.15, a price-to-earnings-growth ratio of 1.63 and a beta of 1.80.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Thursday, February 1st. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.02. Viavi Solutions had a net margin of 3.94% and a return on equity of 9.60%. The firm had revenue of $201.80 million during the quarter, compared to analysts’ expectations of $185.80 million. During the same period in the prior year, the company posted $0.10 EPS. The company’s revenue was down 2.3% on a year-over-year basis. equities research analysts predict that Viavi Solutions will post 0.31 earnings per share for the current year.

In other news, EVP Paul Mcnab sold 3,003 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $9.05, for a total value of $27,177.15. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard Belluzzo sold 10,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 198,910 shares in the company, valued at $1,790,190. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,710 shares of company stock worth $303,444. Insiders own 0.59% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Wells Fargo & Company MN boosted its stake in shares of Viavi Solutions by 29.9% in the 4th quarter. Wells Fargo & Company MN now owns 440,897 shares of the communications equipment provider’s stock valued at $3,854,000 after purchasing an additional 101,394 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Viavi Solutions by 170.1% in the 4th quarter. First Trust Advisors LP now owns 181,798 shares of the communications equipment provider’s stock valued at $1,589,000 after purchasing an additional 114,500 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Viavi Solutions by 1.8% in the 4th quarter. California Public Employees Retirement System now owns 620,058 shares of the communications equipment provider’s stock valued at $5,419,000 after purchasing an additional 11,066 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Viavi Solutions by 311.7% in the 4th quarter. Teacher Retirement System of Texas now owns 77,174 shares of the communications equipment provider’s stock valued at $675,000 after purchasing an additional 58,431 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of Viavi Solutions by 635.8% in the 4th quarter. US Bancorp DE now owns 12,214 shares of the communications equipment provider’s stock valued at $107,000 after purchasing an additional 10,554 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Viavi Solutions (NASDAQ:VIAV)

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