Viavi Solutions (VIAV) Downgraded to “Sell” at ValuEngine

ValuEngine lowered shares of Viavi Solutions (NASDAQ:VIAV) from a hold rating to a sell rating in a research note published on Friday.

Several other research analysts have also weighed in on the company. Loop Capital upgraded Viavi Solutions from a hold rating to a buy rating and set a $9.50 price objective for the company in a research report on Monday, February 5th. Rosenblatt Securities set a $13.00 price objective on Viavi Solutions and gave the stock a buy rating in a research report on Wednesday, December 13th. Morgan Stanley increased their price objective on Viavi Solutions from $9.00 to $10.50 and gave the stock an equal weight rating in a research report on Friday, February 2nd. BidaskClub upgraded Viavi Solutions from a strong sell rating to a sell rating in a research report on Monday, February 5th. Finally, Stifel Nicolaus upgraded Viavi Solutions from a hold rating to a buy rating and increased their price objective for the stock from $10.00 to $12.00 in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. Viavi Solutions currently has an average rating of Buy and an average target price of $11.81.

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Shares of Viavi Solutions (VIAV) traded down $0.17 during trading on Friday, reaching $9.69. The company had a trading volume of 2,119,129 shares, compared to its average volume of 2,187,934. The stock has a market capitalization of $2,227.61, a price-to-earnings ratio of 74.54, a price-to-earnings-growth ratio of 1.45 and a beta of 0.93. Viavi Solutions has a 52 week low of $8.34 and a 52 week high of $11.89. The company has a quick ratio of 2.06, a current ratio of 2.18 and a debt-to-equity ratio of 0.48.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings data on Thursday, February 1st. The communications equipment provider reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. The company had revenue of $201.80 million during the quarter, compared to analyst estimates of $185.80 million. Viavi Solutions had a return on equity of 9.60% and a net margin of 3.94%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 earnings per share. equities research analysts predict that Viavi Solutions will post 0.34 earnings per share for the current fiscal year.

Viavi Solutions declared that its board has approved a stock repurchase program on Thursday, February 15th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the communications equipment provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

In other news, Director Richard Belluzzo sold 4,997 shares of the firm’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $9.00, for a total transaction of $44,973.00. Following the completion of the transaction, the director now directly owns 190,654 shares in the company, valued at $1,715,886. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Amar Maletira sold 15,299 shares of the stock in a transaction on Friday, March 16th. The shares were sold at an average price of $10.06, for a total value of $153,907.94. Following the completion of the sale, the chief financial officer now owns 164,671 shares in the company, valued at $1,656,590.26. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,131 shares of company stock valued at $986,485. Company insiders own 0.59% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in VIAV. Hartford Investment Management Co. acquired a new stake in shares of Viavi Solutions in the third quarter valued at $102,000. US Bancorp DE raised its stake in shares of Viavi Solutions by 635.8% in the fourth quarter. US Bancorp DE now owns 12,214 shares of the communications equipment provider’s stock valued at $107,000 after acquiring an additional 10,554 shares in the last quarter. Commonwealth Equity Services Inc acquired a new stake in shares of Viavi Solutions in the third quarter valued at $111,000. Zeke Capital Advisors LLC acquired a new stake in shares of Viavi Solutions in the fourth quarter valued at $114,000. Finally, LMR Partners LLP acquired a new stake in shares of Viavi Solutions in the fourth quarter valued at $195,000. Institutional investors and hedge funds own 93.45% of the company’s stock.

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Viavi Solutions Company Profile

Viavi Solutions Inc (Viavi) is a provider of network test, monitoring and assurance solutions to communications service providers, enterprises and their ecosystems. The Company also offers thin film optical coatings, providing light management solutions to anti-counterfeiting, consumer and industrial, government and healthcare and other markets.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Viavi Solutions (NASDAQ:VIAV)

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