VIZIO’s (VZIO) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of VIZIO (NYSE:VZIO) in a report published on Friday, Benzinga reports.

A number of other research firms have also recently issued reports on VZIO. Barrington Research raised VIZIO from a market perform rating to an outperform rating in a research note on Wednesday, May 29th. Wells Fargo & Company restated an equal weight rating and set a $11.50 price objective (up from $10.00) on shares of VIZIO in a report on Tuesday, February 27th. Finally, Piper Sandler reaffirmed a neutral rating and issued a $11.50 target price (down from $12.00) on shares of VIZIO in a research note on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $10.77.

VIZIO Stock Performance

Shares of NYSE VZIO opened at $10.62 on Friday. The firm has a 50 day moving average price of $10.66 and a 200 day moving average price of $9.59. The stock has a market cap of $2.10 billion, a P/E ratio of 118.01, a P/E/G ratio of 4.35 and a beta of 2.05. VIZIO has a 52-week low of $4.82 and a 52-week high of $11.28.

VIZIO (NYSE:VZIO) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.07). VIZIO had a return on equity of 3.91% and a net margin of 1.00%. The business had revenue of $353.90 million for the quarter, compared to analyst estimates of $373.95 million. The firm’s revenue was down .8% on a year-over-year basis. Analysts predict that VIZIO will post 0.1 earnings per share for the current fiscal year.

Insider Activity at VIZIO

In other news, insider Michael Joseph O’donnell sold 13,772 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $10.54, for a total value of $145,156.88. Following the completion of the sale, the insider now owns 340,443 shares of the company’s stock, valued at approximately $3,588,269.22. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Michael Joseph O’donnell sold 13,772 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $10.54, for a total transaction of $145,156.88. Following the transaction, the insider now directly owns 340,443 shares in the company, valued at approximately $3,588,269.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Wei Wang sold 135,046 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $10.54, for a total transaction of $1,423,384.84. Following the completion of the sale, the chief executive officer now owns 1,529,972 shares of the company’s stock, valued at $16,125,904.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 305,377 shares of company stock valued at $3,217,108. 44.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Byrne Asset Management LLC acquired a new stake in shares of VIZIO during the 1st quarter worth about $37,000. Future Financial Wealth Managment LLC acquired a new position in VIZIO in the 1st quarter valued at about $44,000. AXQ Capital LP bought a new position in VIZIO in the 3rd quarter valued at about $63,000. Meeder Asset Management Inc. acquired a new stake in VIZIO during the first quarter worth approximately $101,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of VIZIO by 26.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,166 shares of the company’s stock worth $109,000 after acquiring an additional 2,979 shares during the period. 66.24% of the stock is currently owned by institutional investors.

About VIZIO

VIZIO Holding Corp., through its subsidiaries, provides smart televisions, sound bars, and accessories in the United States. It also operates Platform+ that comprises SmartCast, a Smart TV operating system, enabling integrated entertainment solution, and data intelligence and services products through Inscape.