Viavi Solutions (NASDAQ:VIAV) Now Covered by Analysts at UBS Group

UBS Group initiated coverage on shares of Viavi Solutions (NASDAQ:VIAV) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm issued a neutral rating and a $10.60 price target on the communications equipment provider’s stock.

Other analysts have also recently issued reports about the stock. B. Riley decreased their price objective on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a research note on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a report on Friday, November 1st. Stifel Nicolaus reduced their price objective on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research note on Tuesday, August 6th. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Rosenblatt Securities lifted their price target on Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $10.44.

Viavi Solutions Trading Down 0.5 %

NASDAQ:VIAV opened at $9.75 on Tuesday. The company has a market capitalization of $2.16 billion, a P/E ratio of -57.35 and a beta of 0.90. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. Viavi Solutions has a 12 month low of $6.60 and a 12 month high of $11.32. The firm has a fifty day simple moving average of $9.24 and a 200-day simple moving average of $8.19.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. The company had revenue of $238.20 million during the quarter, compared to analysts’ expectations of $240.09 million. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The firm’s revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 EPS. On average, equities research analysts anticipate that Viavi Solutions will post 0.19 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Kevin Christopher Siebert sold 8,432 shares of Viavi Solutions stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $8.63, for a total value of $72,768.16. Following the sale, the senior vice president now owns 56,617 shares in the company, valued at $488,604.71. This trade represents a 12.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $10.14, for a total transaction of $152,100.00. Following the transaction, the director now owns 225,333 shares of the company’s stock, valued at approximately $2,284,876.62. This trade represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,381 shares of company stock valued at $562,279. 1.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Viavi Solutions

Institutional investors have recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in shares of Viavi Solutions in the third quarter valued at approximately $25,000. Innealta Capital LLC purchased a new position in Viavi Solutions in the 2nd quarter valued at $38,000. Quarry LP boosted its stake in Viavi Solutions by 419.7% during the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock worth $50,000 after purchasing an additional 5,838 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Viavi Solutions during the second quarter worth $52,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Viavi Solutions in the second quarter valued at about $76,000. 95.54% of the stock is currently owned by institutional investors and hedge funds.

About Viavi Solutions

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.