Viavi Solutions (VIAV) Upgraded by Zacks Investment Research to Hold
According to Zacks, “Viavi Solutions Inc. provides software and hardware platforms and instruments for telecommunications service providers, wireless operators, cable operators, network-equipment manufacturers and enterprises. The Company offers installation, commissioning, scripting, custom analytics, integration, business intelligence consulting, operational assistance, field and lab testing, technical training, maintenance, and support services. Its operating segment consists of Network and Service Enablement, Communications and Commercial Optical Products and Optical Security and Performance Products. Viavi Solutions Inc., formerly known as JDS Uniphase Corporation, is based in Milpitas, Calif. “
Several other brokerages have also recently issued reports on VIAV. Morgan Stanley set a $13.00 price objective on shares of Viavi Solutions and gave the company a “hold” rating in a research note on Friday, May 3rd. BidaskClub raised shares of Viavi Solutions from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. raised shares of Viavi Solutions from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $12.00 to $13.00 in a research note on Monday, April 22nd. Northland Securities assumed coverage on shares of Viavi Solutions in a research note on Tuesday, February 12th. They set an “outperform” rating and a $15.00 price objective for the company. Finally, TheStreet raised shares of Viavi Solutions from a “c” rating to a “b-” rating in a research note on Wednesday, February 6th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $13.33.
Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Thursday, May 2nd. The communications equipment provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $265.20 million during the quarter, compared to analysts’ expectations of $259.86 million. Viavi Solutions had a negative net margin of 3.25% and a positive return on equity of 15.88%. The company’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.13 earnings per share. On average, analysts expect that Viavi Solutions will post 0.53 earnings per share for the current year.
In related news, SVP Luke M. Scrivanich sold 4,810 shares of the company’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $13.29, for a total transaction of $63,924.90. Following the completion of the sale, the senior vice president now owns 45,456 shares of the company’s stock, valued at approximately $604,110.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 6,915 shares of company stock valued at $91,685. 0.50% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Bank of Montreal Can lifted its holdings in shares of Viavi Solutions by 15.4% in the 4th quarter. Bank of Montreal Can now owns 11,698 shares of the communications equipment provider’s stock worth $118,000 after acquiring an additional 1,564 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Viavi Solutions by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 88,466 shares of the communications equipment provider’s stock worth $1,095,000 after acquiring an additional 1,598 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Viavi Solutions by 2.5% in the 4th quarter. State of Alaska Department of Revenue now owns 76,388 shares of the communications equipment provider’s stock worth $767,000 after acquiring an additional 1,840 shares during the period. Piedmont Investment Advisors Inc. lifted its stake in shares of Viavi Solutions by 4.0% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 54,432 shares of the communications equipment provider’s stock worth $547,000 after acquiring an additional 2,107 shares during the period. Finally, Mason Street Advisors LLC lifted its stake in shares of Viavi Solutions by 3.2% in the first quarter. Mason Street Advisors LLC now owns 73,223 shares of the communications equipment provider’s stock valued at $907,000 after purchasing an additional 2,286 shares during the period. 94.42% of the stock is owned by institutional investors and hedge funds.
About Viavi Solutions
Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military, and avionics customers worldwide. The company operates through Network Enablement, Service Enablement, and Optical Security and Performance Products segments.
Featured Article: What is a Call Option?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Viavi Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viavi Solutions and related companies with MarketBeat.com's FREE daily email newsletter.