MKM Partners reiterated their buy rating on shares of Viavi Solutions Inc. (NASDAQ:VIAV) in a research report released on Monday morning. The brokerage currently has a $8.50 price objective on the stock.
Several other research analysts have also commented on the company. Jefferies Group raised their price target on Viavi Solutions from $5.75 to $7.00 and gave the stock a hold rating in a research report on Friday, August 12th. Zacks Investment Research upgraded Viavi Solutions from a hold rating to a buy rating and set a $8.75 price target for the company in a research report on Thursday, September 8th. Needham & Company LLC restated a hold rating on shares of Viavi Solutions in a research report on Monday, August 15th. William Blair restated an outperform rating on shares of Viavi Solutions in a research report on Friday, September 16th. Finally, Morgan Stanley reiterated a hold rating and issued a $6.00 target price on shares of Viavi Solutions in a report on Friday, August 12th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $7.45.
Viavi Solutions (NASDAQ:VIAV) opened at 7.37 on Monday. The stock has a 50 day moving average price of $7.57 and a 200-day moving average price of $6.93. Viavi Solutions has a one year low of $4.68 and a one year high of $7.94. The firm’s market capitalization is $1.71 billion.
Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings results on Thursday, August 11th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Viavi Solutions had a positive return on equity of 6.67% and a negative net margin of 10.95%. The business earned $224.10 million during the quarter, compared to analyst estimates of $220.39 million. During the same period last year, the business posted $0.13 earnings per share. The company’s quarterly revenue was up 1.8% on a year-over-year basis. On average, analysts predict that Viavi Solutions will post $0.35 earnings per share for the current fiscal year.
In related news, SVP Luke M. Scrivanich sold 14,415 shares of Viavi Solutions stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $7.84, for a total value of $113,013.60. Following the completion of the transaction, the senior vice president now directly owns 12,686 shares in the company, valued at $99,458.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Paul Mcnab sold 36,690 shares of Viavi Solutions stock in a transaction on Monday, September 19th. The shares were sold at an average price of $7.40, for a total value of $271,506.00. Following the completion of the transaction, the executive vice president now owns 27,936 shares of the company’s stock, valued at $206,726.40. The disclosure for this sale can be found here. 0.77% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Institutional Trust Company N.A. acquired a new stake in shares of Viavi Solutions during the first quarter worth about $39,789,000. BlackRock Group LTD acquired a new stake in shares of Viavi Solutions during the first quarter worth about $1,947,000. BlackRock Inc. acquired a new stake in shares of Viavi Solutions during the first quarter worth about $202,000. Texas Permanent School Fund acquired a new stake in shares of Viavi Solutions during the first quarter worth about $1,271,000. Finally, Bogle Investment Management L P DE acquired a new stake in shares of Viavi Solutions during the first quarter worth about $6,151,000. Hedge funds and other institutional investors own 87.21% 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).
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