Viavi Solutions (NASDAQ:VIAV) Lowered to “Hold” at StockNews.com

Posted by Defense World Staff on Jun 8th, 2023

Viavi Solutions (NASDAQ:VIAV – Get Rating) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

A number of other research analysts also recently commented on VIAV. Northland Securities decreased their price objective on shares of Viavi Solutions from $15.00 to $13.00 in a research report on Tuesday, April 18th. B. Riley lowered their price target on Viavi Solutions from $13.50 to $11.00 in a research report on Tuesday, April 18th. Finally, Susquehanna cut their price objective on Viavi Solutions from $14.00 to $12.00 in a research report on Wednesday, May 3rd. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.50.

Viavi Solutions Price Performance

VIAV stock opened at $9.93 on Thursday. The stock has a 50-day moving average price of $9.61 and a two-hundred day moving average price of $10.41. Viavi Solutions has a 1 year low of $8.52 and a 1 year high of $16.00. The stock has a market cap of $2.21 billion, a PE ratio of 55.17 and a beta of 0.81. The company has a current ratio of 2.43, a quick ratio of 2.13 and a debt-to-equity ratio of 0.92.

Viavi Solutions (NASDAQ:VIAV – Get Rating) last issued its quarterly earnings results on Tuesday, May 2nd. The communications equipment provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). The company had revenue of $247.80 million for the quarter, compared to analyst estimates of $247.07 million. Viavi Solutions had a net margin of 3.57% and a return on equity of 15.92%. Equities analysts forecast that Viavi Solutions will post 0.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Viavi Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James & Associates raised its stake in Viavi Solutions by 2.5% in the 1st quarter. Raymond James & Associates now owns 48,044 shares of the communications equipment provider’s stock worth $773,000 after purchasing an additional 1,181 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Viavi Solutions by 32.3% in the first quarter. PNC Financial Services Group Inc. now owns 42,279 shares of the communications equipment provider’s stock valued at $680,000 after buying an additional 10,316 shares in the last quarter. Natixis Advisors L.P. boosted its stake in shares of Viavi Solutions by 8.3% in the first quarter. Natixis Advisors L.P. now owns 115,782 shares of the communications equipment provider’s stock valued at $1,862,000 after buying an additional 8,863 shares during the period. MetLife Investment Management LLC grew its position in Viavi Solutions by 46.8% during the first quarter. MetLife Investment Management LLC now owns 120,492 shares of the communications equipment provider’s stock worth $1,938,000 after buying an additional 38,396 shares in the last quarter. Finally, Ergoteles LLC bought a new position in Viavi Solutions during the 1st quarter worth $1,104,000. Institutional investors and hedge funds own 90.87% of the company’s stock.

Viavi Solutions Company Profile

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Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.