Viavi Solutions Inc. (NASDAQ:VIAV) – William Blair cut their Q2 2017 earnings per share (EPS) estimates for Viavi Solutions in a report issued on Friday. William Blair analyst D. Netis now expects that the firm will post earnings per share of $0.06 for the quarter, down from their prior estimate of $0.08. William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for Viavi Solutions’ Q4 2017 earnings at $0.09 EPS, Q1 2018 earnings at $0.08 EPS and Q4 2018 earnings at $0.10 EPS.
VIAV has been the topic of several other reports. MKM Partners increased their price objective on shares of Viavi Solutions from $8.00 to $8.50 and gave the company a “buy” rating in a report on Monday, June 6th. Zacks Investment Research upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a report on Wednesday, August 17th. Jefferies Group increased their price objective on shares of Viavi Solutions from $5.75 to $7.00 and gave the company a “hold” rating in a report on Friday, August 12th. Morgan Stanley restated a “hold” rating and issued a $6.00 price objective on shares of Viavi Solutions in a report on Friday, August 12th. Finally, Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a report on Monday, August 15th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $7.45.
Shares of Viavi Solutions (NASDAQ:VIAV) opened at 7.42 on Monday. The company has a 50 day moving average of $7.55 and a 200 day moving average of $6.93. Viavi Solutions has a 1-year low of $4.68 and a 1-year high of $7.94. The firm’s market cap is $1.72 billion.
Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data on Thursday, August 11th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. Viavi Solutions had a negative net margin of 10.95% and a positive return on equity of 6.67%. The business earned $224.10 million during the quarter, compared to analyst estimates of $220.39 million. During the same quarter in the previous year, the business earned $0.13 EPS. Viavi Solutions’s quarterly revenue was up 1.8% compared to the same quarter last year.
Several large investors have recently modified their holdings of the company. BlackRock Fund Advisors bought a new stake in shares of Viavi Solutions during the first quarter valued at about $79,931,000. BlackRock Institutional Trust Company N.A. bought a new stake in shares of Viavi Solutions during the first quarter valued at about $39,789,000. AQR Capital Management LLC increased its stake in shares of Viavi Solutions by 281.2% in the second quarter. AQR Capital Management LLC now owns 4,262,503 shares of the company’s stock valued at $28,260,000 after buying an additional 3,144,317 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Viavi Solutions during the first quarter valued at about $16,187,000. Finally, State Street Corp increased its stake in shares of Viavi Solutions by 52.7% in the second quarter. State Street Corp now owns 5,282,970 shares of the company’s stock valued at $35,028,000 after buying an additional 1,823,852 shares in the last quarter. 87.21% of the stock is owned by institutional investors.
In other news, VP Kevin Christopher Siebert sold 6,938 shares of the stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $7.73, for a total transaction of $53,630.74. Following the completion of the sale, the vice president now owns 691 shares of the company’s stock, valued at $5,341.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Dion Joannou sold 12,466 shares of the stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $7.79, for a total transaction of $97,110.14. The disclosure for this sale can be found here. Insiders own 0.77% of the company’s stock.
About Viavi Solutions
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).
Receive News & Ratings for Viavi Solutions Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viavi Solutions Inc. and related companies with MarketBeat.com's FREE daily email newsletter.