Viavi Solutions (NASDAQ:VIAV) Raised to “Strong-Buy” at Zacks Research

Viavi Solutions (NASDAQ:VIAV) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Thursday, Zacks reports.

Several other equities analysts have also recently weighed in on VIAV. Needham & Company LLC lowered their price target on Viavi Solutions from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, November 5th. B. Riley Financial lowered their price objective on Viavi Solutions from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. UBS Group lowered their target price on shares of Viavi Solutions from $44.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, November 5th. Rosenblatt Securities reiterated a “buy” rating and issued a $70.00 price target on shares of Viavi Solutions in a research note on Wednesday, September 23rd. Finally, Stifel Nicolaus set a $65.00 price target on Viavi Solutions in a report on Wednesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.83.

Viavi Solutions Price Performance

NASDAQ VIAV traded down $1.82 during trading on Thursday, reaching $30.72. The company’s stock had a trading volume of 5,109,325 shares, compared to its average volume of 6,828,286. The firm has a fifty day moving average of $36.34 and a 200 day moving average of $38.94. Viavi Solutions has a one year low of $15.51 and a one year high of $60.43. The stock has a market capitalization of $7.55 billion, a PE ratio of 128.01, a P/E/G ratio of 1.47 and a beta of 1.31. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.65 and a quick ratio of 1.40.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings results on Wednesday, November 4th. The communications equipment provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The firm had revenue of $469.30 million during the quarter, compared to the consensus estimate of $455.06 million. Viavi Solutions had a return on equity of 25.36% and a net margin of 3.97%. The company’s revenue for the quarter was up 56.9% on a year-over-year basis. During the same quarter last year, the company posted $0.15 EPS. Analysts expect that Viavi Solutions will post 1.84 EPS for the current fiscal year.

Insider Activity

In other Viavi Solutions news, EVP Ilan Daskal sold 56,290 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $36.29, for a total value of $2,042,764.10. Following the sale, the executive vice president owned 10,132 shares in the company, valued at $367,690.28. This trade represents a 84.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Paul McNab sold 13,806 shares of Viavi Solutions stock in a transaction on Thursday, November 12th. The stock was sold at an average price of $32.12, for a total value of $443,448.72. Following the sale, the executive vice president owned 46,026 shares of the company’s stock, valued at approximately $1,478,355.12. This trade represents a 23.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 211,905 shares of company stock valued at $8,360,077 over the last ninety days. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Viavi Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Silvant Capital Management LLC bought a new position in Viavi Solutions in the 2nd quarter worth about $33,000. Fortitude Family Office LLC boosted its holdings in shares of Viavi Solutions by 413.3% in the third quarter. Fortitude Family Office LLC now owns 811 shares of the communications equipment provider’s stock valued at $34,000 after purchasing an additional 653 shares during the period. Persistent Asset Partners Ltd purchased a new stake in shares of Viavi Solutions in the second quarter valued at approximately $38,000. Carolina Wealth Advisors LLC grew its stake in Viavi Solutions by 83.2% in the second quarter. Carolina Wealth Advisors LLC now owns 852 shares of the communications equipment provider’s stock worth $41,000 after purchasing an additional 387 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in Viavi Solutions by 309.4% in the second quarter. NewEdge Advisors LLC now owns 1,130 shares of the communications equipment provider’s stock worth $54,000 after purchasing an additional 854 shares in the last quarter. Institutional investors own 95.54% of the company’s stock.

Key Viavi Solutions News

These are some of the VIAV news items that stood out recently:

• Positive Sentiment: Recent coverage highlights a quarterly earnings beat, an upbeat Q2 outlook and growing data-center opportunities, supported by demand for optical testing. Analysts have also raised earnings estimates, adding to the growth case. Q1 results and Q2 outlook
• Negative Sentiment: EVP Paul McNab sold 13,806 shares for about $443,449, reducing his holdings by roughly 23%. The sale could weigh on sentiment, though an insider transaction alone does not establish the executive’s outlook for the company. SEC filing
• Negative Sentiment: Despite strong reported growth, Viavi’s shares had fallen 11.6% over the past month, and coverage flags valuation and execution risks as potential constraints on the stock. Growth and valuation risks

About Viavi Solutions

Viavi Solutions Inc. develops testing, monitoring and assurance solutions for communications networks. Its products and software help service providers, equipment makers and enterprises build, maintain and troubleshoot fiber-optic, broadband, wireless and other network infrastructure, including technologies used in 5G and data centers. The company also makes optical technologies and security products, including features used to authenticate banknotes, identity documents and branded goods. These offerings support applications in areas such as anti-counterfeiting, document security and optical coatings.