Rosenblatt Securities reissued their buy rating on shares of Viavi Solutions (NASDAQ:VIAV) in a report published on Friday, AnalystRatings.com reports. They currently have a $15.00 price objective on the communications equipment provider’s stock.
“We expect the 5G testing business to maintain its growth engines as more countries deploy 5G networks in 2020. We believe Viavi will continue to benefit from the 5G equipment installation stage as the company can sell system testing products and field testing services.”,” the firm’s analyst wrote.
Other analysts also recently issued reports about the company. Morgan Stanley set a $13.00 target price on Viavi Solutions and gave the company a hold rating in a research report on Friday, May 3rd. ValuEngine downgraded Viavi Solutions from a buy rating to a hold rating in a research report on Thursday, August 1st. Northland Securities set a $16.00 target price on Viavi Solutions and gave the company a buy rating in a research report on Tuesday, June 11th. BidaskClub upgraded Viavi Solutions from a buy rating to a strong-buy rating in a research report on Thursday. Finally, JPMorgan Chase & Co. upgraded Viavi Solutions from an underweight rating to a neutral rating and upped their target price for the company from $12.00 to $13.00 in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $14.00.
NASDAQ:VIAV opened at $13.77 on Friday. The stock has a fifty day moving average price of $14.22 and a 200-day moving average price of $13.08. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 26.48 and a beta of 0.98. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.86 and a current ratio of 3.19. Viavi Solutions has a fifty-two week low of $9.17 and a fifty-two week high of $14.95.
Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Thursday, August 15th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The firm had revenue of $289.70 million during the quarter, compared to the consensus estimate of $279.18 million. Viavi Solutions had a return on equity of 16.81% and a net margin of 0.48%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.14 EPS. Research analysts predict that Viavi Solutions will post 0.6 EPS for the current fiscal year.
In related news, CFO Amar Maletira sold 2,500 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $13.31, for a total transaction of $33,275.00. Following the completion of the sale, the chief financial officer now directly owns 269,370 shares in the company, valued at approximately $3,585,314.70. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 22,556 shares of company stock valued at $307,093. 0.50% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC lifted its position in shares of Viavi Solutions by 88.5% during the 2nd quarter. Advisory Services Network LLC now owns 2,354 shares of the communications equipment provider’s stock worth $31,000 after buying an additional 1,105 shares during the last quarter. Capital Investment Advisory Services LLC bought a new stake in shares of Viavi Solutions during the 1st quarter worth $68,000. Point72 Asset Management L.P. bought a new stake in shares of Viavi Solutions during the 2nd quarter worth $94,000. Meeder Asset Management Inc. lifted its position in shares of Viavi Solutions by 108.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 7,321 shares of the communications equipment provider’s stock worth $98,000 after buying an additional 3,801 shares during the last quarter. Finally, Penserra Capital Management LLC bought a new stake in shares of Viavi Solutions during the 1st quarter worth $110,000. Institutional investors and hedge funds own 93.33% of the company’s stock.
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.
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