Viavi Solutions’ (VIAV) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Viavi Solutions (NASDAQ:VIAV) in a research note issued to investors on Friday morning, Benzinga reports.

Several other equities research analysts have also recently commented on the company. Argus raised Viavi Solutions to a strong-buy rating in a research note on Thursday, May 9th. StockNews.com upgraded Viavi Solutions from a hold rating to a buy rating in a report on Friday, April 12th. Rosenblatt Securities lowered Viavi Solutions from a buy rating to a neutral rating and cut their price target for the company from $10.00 to $8.25 in a report on Wednesday, June 26th. Stifel Nicolaus dropped their target price on Viavi Solutions from $13.00 to $10.50 and set a buy rating on the stock in a report on Tuesday, August 6th. Finally, Susquehanna lowered Viavi Solutions from a positive rating to a neutral rating and set a $9.00 target price on the stock. in a report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $10.71.

Viavi Solutions Stock Performance

VIAV traded down $0.56 during midday trading on Friday, reaching $7.30. The company’s stock had a trading volume of 3,064,313 shares, compared to its average volume of 1,875,548. The company has a fifty day simple moving average of $7.42 and a 200 day simple moving average of $8.37. The company has a current ratio of 3.81, a quick ratio of 3.35 and a debt-to-equity ratio of 0.90. Viavi Solutions has a twelve month low of $6.60 and a twelve month high of $11.32. The stock has a market cap of $1.63 billion, a P/E ratio of -365.00 and a beta of 0.91.

Viavi Solutions (NASDAQ:VIAV) last posted its earnings results on Thursday, August 8th. The communications equipment provider reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The business had revenue of $252.00 million during the quarter, compared to the consensus estimate of $251.83 million. Viavi Solutions had a positive return on equity of 4.65% and a negative net margin of 0.42%. Research analysts expect that Viavi Solutions will post 0.12 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Paul Mcnab sold 6,822 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $7.33, for a total value of $50,005.26. Following the transaction, the executive vice president now owns 42,955 shares of the company’s stock, valued at $314,860.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Viavi Solutions

Institutional investors and hedge funds have recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in shares of Viavi Solutions in the second quarter valued at approximately $38,000. Summit Securities Group LLC bought a new stake in shares of Viavi Solutions in the second quarter valued at approximately $52,000. Headlands Technologies LLC bought a new stake in shares of Viavi Solutions in the first quarter valued at approximately $55,000. Heritage Family Offices LLP bought a new stake in shares of Viavi Solutions in the second quarter valued at approximately $92,000. Finally, Park Avenue Securities LLC bought a new stake in shares of Viavi Solutions in the first quarter valued at approximately $99,000. Institutional investors and hedge funds own 95.54% of the company’s stock.

Viavi Solutions Company Profile

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.