Todays Report: The Viavi Solutions Inc. (VIAV) gets Sell status at Zacks Investment Research

The Viavi Solutions Inc. (VIAV) gets Sell status at Zacks Investment Research

Zacks Investment Research lowered shares of Viavi Solutions Inc. (NASDAQ:VIAV) from a hold rating to a sell rating in a research note published on Thursday.

According to Zacks, “Viavi Solutions Inc. provides software and hardware platforms and instruments for telecommunications service providers, wireless operators, cable operators, network-equipment manufacturers and enterprises. The Company offers installation, commissioning, scripting, custom analytics, integration, business intelligence consulting, operational assistance, field and lab testing, technical training, maintenance, and support services. Its operating segment consists of Network and Service Enablement, Communications and Commercial Optical Products and Optical Security and Performance Products. Viavi Solutions Inc., formerly known as JDS Uniphase Corporation, is based in Milpitas, Calif. “

Several other research firms have also recently issued reports on VIAV. Needham & Company LLC restated a hold rating on shares of Viavi Solutions in a report on Monday, August 15th. William Blair restated an outperform rating on shares of Viavi Solutions in a report on Friday, September 16th. MKM Partners restated a buy rating and set a $8.50 price objective on shares of Viavi Solutions in a report on Monday, September 19th. Jefferies Group raised their price objective on Viavi Solutions from $5.75 to $7.00 and gave the stock a hold rating in a report on Friday, August 12th. Finally, Morgan Stanley restated a hold rating and set a $6.00 price objective on shares of Viavi Solutions in a report on Friday, August 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $7.88.

Viavi Solutions (NASDAQ:VIAV) traded up 0.69% during trading on Thursday, reaching $7.33. The company’s stock had a trading volume of 160,737 shares. The company has a 50 day moving average price of $7.51 and a 200-day moving average price of $7.01. The company’s market capitalization is $1.70 billion. Viavi Solutions has a 52 week low of $4.68 and a 52 week high of $7.93.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. Viavi Solutions had a positive return on equity of 6.67% and a negative net margin of 10.95%. The business had revenue of $224.10 million for the quarter, compared to analysts’ expectations of $220.39 million. During the same quarter last year, the firm earned $0.13 earnings per share. The business’s revenue was up 1.8% on a year-over-year basis. Equities research analysts anticipate that Viavi Solutions will post $0.35 earnings per share for the current year.

In related news, VP Kevin Christopher Siebert sold 6,938 shares of Viavi Solutions stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $7.73, for a total value of $53,630.74. Following the transaction, the vice president now owns 691 shares in the company, valued at $5,341.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Luke M. Scrivanich sold 34,299 shares of Viavi Solutions stock in a transaction on Friday, September 30th. The shares were sold at an average price of $7.31, for a total value of $250,725.69. Following the completion of the transaction, the senior vice president now owns 41,438 shares in the company, valued at approximately $302,911.78. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of VIAV. Menta Capital LLC bought a new position in shares of Viavi Solutions during the first quarter worth approximately $492,000. Royce & Associates LP bought a new position in shares of Viavi Solutions during the first quarter worth approximately $755,000. JPMorgan Chase & Co. bought a new position in shares of Viavi Solutions during the first quarter worth approximately $3,934,000. BlackRock Institutional Trust Company N.A. bought a new position in shares of Viavi Solutions during the first quarter worth approximately $39,789,000. Finally, BlackRock Fund Advisors bought a new position in shares of Viavi Solutions during the first quarter worth approximately $79,931,000. Hedge funds and other institutional investors own 87.32% of the company’s stock.

About Viavi Solutions

Viavi Solutions Inc, formerly JDS Uniphase Corporation, is a provider of network and service enablement solutions and optical products for telecommunications service providers, wireless operators, cable operators, network-equipment manufacturers (NEMs) and enterprises. The Company operates in three business segments: Network and Service Enablement (NSE), Communications and Commercial Optical Products (CCOP), and Optical Security and Performance Products (OSP).

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