William Blair Reaffirms Outperform Rating for Viavi Solutions Inc. (VIAV)
Viavi Solutions Inc. (NASDAQ:VIAV)‘s stock had its “outperform” rating reaffirmed by stock analysts at William Blair in a report released on Friday.
VIAV has been the subject of several other research reports. MKM Partners boosted their price target on shares of Viavi Solutions from $8.00 to $8.50 and gave the stock a “buy” rating in a research note on Monday, June 6th. B. Riley downgraded shares of Viavi Solutions from a “buy” rating to a “neutral” rating and set a $6.75 price target for the company. in a research note on Monday, June 27th. Jefferies Group boosted their price target on shares of Viavi Solutions from $5.75 to $7.00 and gave the stock a “hold” rating in a research note on Friday, August 12th. Morgan Stanley restated a “hold” rating and issued a $6.00 price target on shares of Viavi Solutions in a research note on Friday, August 12th. Finally, Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research note on Monday, August 15th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Viavi Solutions currently has an average rating of “Hold” and an average target price of $7.45.
Viavi Solutions (NASDAQ:VIAV) opened at 7.47 on Friday. Viavi Solutions has a 52 week low of $4.68 and a 52 week high of $7.94. The company has a 50-day moving average price of $7.53 and a 200-day moving average price of $6.91. The stock’s market cap is $1.74 billion.
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Viavi Solutions (NASDAQ:VIAV) last announced its earnings results on Thursday, August 11th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $224.10 million for the quarter, compared to analyst estimates of $220.39 million. Viavi Solutions had a positive return on equity of 6.67% and a negative net margin of 10.95%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.13 earnings per share. Equities research analysts anticipate that Viavi Solutions will post $0.36 EPS for the current year.
In other Viavi Solutions news, SVP Luke M. Scrivanich sold 16,555 shares of the company’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $7.73, for a total value of $127,970.15. Following the completion of the transaction, the senior vice president now owns 35,493 shares in the company, valued at $274,360.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Susan Louise Spradley sold 15,766 shares of the company’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $7.50, for a total transaction of $118,245.00. Following the completion of the transaction, the senior vice president now owns 1,752 shares of the company’s stock, valued at approximately $13,140. The disclosure for this sale can be found here. Corporate insiders own 0.77% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in VIAV. JPMorgan Chase & Co. bought a new position in Viavi Solutions during the first quarter valued at about $3,934,000. BlackRock Institutional Trust Company N.A. bought a new position in Viavi Solutions during the first quarter valued at about $39,789,000. BlackRock Fund Advisors bought a new position in Viavi Solutions during the first quarter valued at about $79,931,000. BlackRock Group LTD bought a new position in Viavi Solutions during the first quarter valued at about $1,947,000. Finally, BlackRock Inc. bought a new position in Viavi Solutions during the first quarter valued at about $202,000. Institutional investors own 87.21% of the company’s stock.
Viavi Solutions Company Profile
Viavi Solutions Inc, formerly JDS Uniphase Corporation, is a provider of network and service enablement solutions and optical products for telecommunications service providers, wireless operators, cable operators, network-equipment manufacturers (NEMs) and enterprises. The Company operates in three business segments: Network and Service Enablement (NSE), Communications and Commercial Optical Products (CCOP), and Optical Security and Performance Products (OSP).
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