Viavi Solutions (VIAV) Coverage Initiated at Northland Securities

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Northland Securities began coverage on shares of Viavi Solutions (NASDAQ:VIAV) in a research report issued to clients and investors on Tuesday, The Fly reports. The firm set an “outperform” rating on the communications equipment provider’s stock.

Several other analysts also recently commented on VIAV. Zacks Investment Research upgraded Viavi Solutions from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Saturday. ValuEngine upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. BidaskClub downgraded Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 5th. TheStreet upgraded Viavi Solutions from a “c” rating to a “b-” rating in a research note on Wednesday, February 6th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $15.00 target price on shares of Viavi Solutions in a research note on Sunday. One research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company’s stock. Viavi Solutions presently has a consensus rating of “Buy” and an average price target of $12.62.

Shares of VIAV opened at $11.97 on Tuesday. The company has a current ratio of 2.99, a quick ratio of 2.70 and a debt-to-equity ratio of 0.80. Viavi Solutions has a 12 month low of $9.11 and a 12 month high of $12.82. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 35.21 and a beta of 0.84.

Viavi Solutions (NASDAQ:VIAV) last issued its earnings results on Tuesday, February 5th. The communications equipment provider reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. Viavi Solutions had a positive return on equity of 15.82% and a negative net margin of 3.76%. The business had revenue of $298.40 million for the quarter, compared to the consensus estimate of $280.93 million. During the same period last year, the business posted $0.09 EPS. The company’s revenue was up 47.9% compared to the same quarter last year. On average, equities research analysts expect that Viavi Solutions will post 0.54 earnings per share for the current year.

In other news, Director Keith Barnes sold 11,074 shares of the stock in a transaction on Monday, November 19th. The stock was sold at an average price of $9.73, for a total transaction of $107,750.02. Following the transaction, the director now directly owns 98,471 shares of the company’s stock, valued at approximately $958,122.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 13,149 shares of company stock worth $127,959 over the last three months. Insiders own 0.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc lifted its holdings in shares of Viavi Solutions by 1.8% during the 3rd quarter. Vanguard Group Inc now owns 23,357,949 shares of the communications equipment provider’s stock valued at $264,879,000 after buying an additional 418,120 shares during the period. Manatuck Hill Partners LLC lifted its holdings in shares of Viavi Solutions by 277.1% during the 3rd quarter. Manatuck Hill Partners LLC now owns 377,100 shares of the communications equipment provider’s stock valued at $4,276,000 after buying an additional 277,100 shares during the period. United Services Automobile Association lifted its holdings in shares of Viavi Solutions by 56.5% during the 2nd quarter. United Services Automobile Association now owns 295,293 shares of the communications equipment provider’s stock valued at $3,024,000 after buying an additional 106,600 shares during the period. Loomis Sayles & Co. L P lifted its holdings in shares of Viavi Solutions by 3.0% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,001,484 shares of the communications equipment provider’s stock valued at $11,357,000 after buying an additional 29,590 shares during the period. Finally, Granite Point Capital Management L.P. lifted its holdings in shares of Viavi Solutions by 24.5% during the 3rd quarter. Granite Point Capital Management L.P. now owns 88,400 shares of the communications equipment provider’s stock valued at $1,002,000 after buying an additional 17,400 shares during the period. 90.56% of the stock is currently owned by hedge funds and other institutional investors.

Viavi Solutions Company Profile

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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