Viavi Solutions (NASDAQ:VIAV) Stock Rating Upgraded by StockNews.com

Posted by on Jun 22nd, 2022

Viavi Solutions (NASDAQ:VIAV – Get Rating) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday.

Separately, TheStreet downgraded shares of Viavi Solutions from a “b” rating to a “c+” rating in a report on Wednesday, March 9th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $19.67.

NASDAQ:VIAV opened at $13.27 on Wednesday. Viavi Solutions has a 12 month low of $12.94 and a 12 month high of $18.14. The company has a current ratio of 4.02, a quick ratio of 3.58 and a debt-to-equity ratio of 1.00. The firm’s 50 day moving average is $14.41 and its 200 day moving average is $15.75. The stock has a market capitalization of $3.02 billion, a PE ratio of -442.33 and a beta of 0.73.

Viavi Solutions (NASDAQ:VIAV – Get Rating) last issued its earnings results on Tuesday, May 3rd. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. Viavi Solutions had a positive return on equity of 22.22% and a negative net margin of 0.23%. The firm had revenue of $315.50 million for the quarter, compared to analyst estimates of $309.30 million. During the same period in the previous year, the company posted $0.14 earnings per share. The business’s revenue was up 4.0% on a year-over-year basis. Research analysts predict that Viavi Solutions will post 0.74 earnings per share for the current year.

In other news, EVP Paul Mcnab sold 12,103 shares of Viavi Solutions stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $14.46, for a total value of $175,009.38. Following the completion of the transaction, the executive vice president now directly owns 31,178 shares in the company, valued at $450,833.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.63% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Vise Technologies Inc. bought a new position in Viavi Solutions in the 1st quarter valued at $210,000. Verition Fund Management LLC bought a new stake in Viavi Solutions during the first quarter valued at $603,000. Capital World Investors grew its position in Viavi Solutions by 9.6% during the first quarter. Capital World Investors now owns 6,830,000 shares of the communications equipment provider’s stock worth $109,826,000 after buying an additional 598,000 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Viavi Solutions in the 1st quarter worth about $628,000. Finally, Evergreen Capital Management LLC purchased a new stake in shares of Viavi Solutions in the 1st quarter valued at about $188,000. Institutional investors own 93.76% of the company’s stock.

Viavi Solutions Company Profile (Get Rating)

Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, government, and avionics customers worldwide. The company operates through three segments: Network Enablement (NE), Service Enablement (SE), and Optical Security and Performance Products (OSP) segments.

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