Viavi Solutions (NASDAQ:VIAV) Given "Hold" Rating at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Viavi Solutions (NASDAQ:VIAV - Free Report) in a research note issued to investors on Friday morning, Benzinga reports.

Several other analysts have also commented on the stock. Stifel Nicolaus restated a buy rating and set a $13.00 target price on shares of Viavi Solutions in a report on Monday, April 1st. Northland Securities increased their price target on Viavi Solutions from $12.00 to $17.00 and gave the company an outperform rating in a research report on Wednesday, March 6th. Susquehanna upped their price objective on shares of Viavi Solutions from $12.00 to $14.00 and gave the company a positive rating in a research note on Thursday, March 7th. Rosenblatt Securities dropped their target price on shares of Viavi Solutions from $15.00 to $13.00 and set a buy rating on the stock in a research report on Wednesday, April 3rd. Finally, Morgan Stanley upped their price target on shares of Viavi Solutions from $9.00 to $11.00 and gave the company an equal weight rating in a research report on Wednesday, March 6th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Viavi Solutions currently has an average rating of Moderate Buy and an average target price of $12.00.

Viavi Solutions Stock Down 5.7 %

NASDAQ:VIAV traded down $0.46 during mid-day trading on Friday, reaching $7.56. The stock had a trading volume of 4,038,127 shares, compared to its average volume of 2,084,735. The stock's 50 day simple moving average is $9.11 and its two-hundred day simple moving average is $9.03. Viavi Solutions has a 1-year low of $7.10 and a 1-year high of $11.65. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 378.00 and a beta of 0.97. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.09 and a quick ratio of 2.72.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last announced its earnings results on Thursday, May 2nd. The communications equipment provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). Viavi Solutions had a net margin of 0.49% and a return on equity of 5.38%. The firm had revenue of $246.00 million for the quarter, compared to the consensus estimate of $249.08 million. During the same period in the prior year, the business earned $0.02 EPS. The company's quarterly revenue was down .7% compared to the same quarter last year. Equities analysts anticipate that Viavi Solutions will post 0.22 EPS for the current year.

Insider Buying and Selling

In other Viavi Solutions news, SVP Kevin Christopher Siebert sold 13,967 shares of the business's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $10.70, for a total value of $149,446.90. Following the transaction, the senior vice president now owns 47,097 shares in the company, valued at $503,937.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Viavi Solutions news, SVP Kevin Christopher Siebert sold 13,967 shares of Viavi Solutions stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $10.70, for a total value of $149,446.90. Following the completion of the sale, the senior vice president now directly owns 47,097 shares in the company, valued at $503,937.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paul Mcnab sold 15,004 shares of the business's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $10.62, for a total transaction of $159,342.48. Following the completion of the sale, the executive vice president now directly owns 57,940 shares of the company's stock, valued at $615,322.80. The disclosure for this sale can be found here. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Viavi Solutions

Several institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Viavi Solutions by 11.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,000 shares of the communications equipment provider's stock valued at $594,000 after acquiring an additional 6,560 shares during the last quarter. Thompson Investment Management Inc. boosted its position in Viavi Solutions by 1.7% during the third quarter. Thompson Investment Management Inc. now owns 360,627 shares of the communications equipment provider's stock worth $3,296,000 after purchasing an additional 5,895 shares during the period. Knights of Columbus Asset Advisors LLC grew its holdings in Viavi Solutions by 2.8% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 170,780 shares of the communications equipment provider's stock valued at $1,561,000 after purchasing an additional 4,711 shares during the last quarter. Coldstream Capital Management Inc. raised its position in shares of Viavi Solutions by 13.4% in the third quarter. Coldstream Capital Management Inc. now owns 11,922 shares of the communications equipment provider's stock valued at $109,000 after purchasing an additional 1,411 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Viavi Solutions by 20.9% in the third quarter. Victory Capital Management Inc. now owns 112,341 shares of the communications equipment provider's stock worth $1,027,000 after buying an additional 19,456 shares during the last quarter. 95.54% of the stock is currently owned by institutional investors.

About Viavi Solutions

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.