The Viavi Solutions Inc. (VIAV) Stock Rating Upgraded by JPMorgan Chase & Co.

The Viavi Solutions Inc. (VIAV) Stock Rating Upgraded by JPMorgan Chase & Co.

Viavi Solutions Inc. (NASDAQ:VIAV) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Tuesday. The firm currently has a $10.00 price target on the stock, up from their previous price target of $7.50. JPMorgan Chase & Co.’s target price points to a potential upside of 34.59% from the company’s current price.

A number of other equities analysts have also weighed in on VIAV. B. Riley lowered Viavi Solutions from a “buy” rating to a “neutral” rating and set a $6.75 price objective on the stock. in a research note on Monday, June 27th. Jefferies Group boosted their price objective on Viavi Solutions from $5.75 to $7.00 and gave the stock a “hold” rating in a research note on Friday, August 12th. Morgan Stanley reaffirmed a “hold” rating and issued a $6.00 price target on shares of Viavi Solutions in a research note on Friday, August 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research note on Monday, August 15th. Finally, Zacks Investment Research raised Viavi Solutions from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research note on Wednesday, August 17th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $7.88.

Viavi Solutions (NASDAQ:VIAV) opened at 7.43 on Tuesday. The stock’s market cap is $1.73 billion. Viavi Solutions has a 52 week low of $4.68 and a 52 week high of $7.93. The stock’s 50 day moving average price is $7.52 and its 200 day moving average price is $7.01.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data on Thursday, August 11th. The company reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.01. The company had revenue of $224.10 million for the quarter, compared to analyst estimates of $220.39 million. Viavi Solutions had a positive return on equity of 6.67% and a negative net margin of 10.95%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 earnings per share. On average, analysts forecast that Viavi Solutions will post $0.35 earnings per share for the current year.

In related news, SVP Ralph Rondinone sold 10,573 shares of the stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $7.59, for a total transaction of $80,249.07. Following the transaction, the senior vice president now owns 15,664 shares of the company’s stock, valued at approximately $118,889.76. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Luke M. Scrivanich sold 14,415 shares of the stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $7.84, for a total value of $113,013.60. Following the transaction, the senior vice president now directly owns 12,686 shares in the company, valued at approximately $99,458.24. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the company. Nuveen Asset Management LLC bought a new stake in shares of Viavi Solutions during the second quarter valued at $103,000. Legal & General Group Plc increased its stake in shares of Viavi Solutions by 76.6% in the first quarter. Legal & General Group Plc now owns 15,565 shares of the company’s stock valued at $107,000 after buying an additional 6,749 shares during the period. Hsbc Holdings PLC increased its stake in shares of Viavi Solutions by 0.6% in the second quarter. Hsbc Holdings PLC now owns 17,438 shares of the company’s stock valued at $116,000 after buying an additional 98 shares during the period. Ameritas Investment Partners Inc. bought a new stake in shares of Viavi Solutions during the second quarter valued at $121,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Viavi Solutions by 152.0% in the second quarter. Tower Research Capital LLC TRC now owns 19,559 shares of the company’s stock valued at $130,000 after buying an additional 11,799 shares during the period. 87.32% of the stock is currently owned by hedge funds and other institutional investors.

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