Viavi Solutions Inc. (NASDAQ:VIAV) Downgraded by BidaskClub
BidaskClub cut shares of Viavi Solutions Inc. (NASDAQ:VIAV) from a buy rating to a hold rating in a report released on Tuesday, August 1st.
Several other equities analysts also recently weighed in on the company. Zacks Investment Research raised Viavi Solutions from a hold rating to a buy rating and set a $13.00 target price for the company in a research report on Tuesday, May 9th. Jefferies Group LLC raised Viavi Solutions from a hold rating to a buy rating and boosted their price objective for the stock from $9.50 to $14.00 in a research report on Friday, May 5th. Stifel Nicolaus reissued a hold rating and set a $11.00 price objective (up from $9.50) on shares of Viavi Solutions in a research report on Thursday, June 22nd. Finally, B. Riley raised Viavi Solutions from a neutral rating to a buy rating and set a $14.00 price objective for the company in a research report on Friday, July 21st. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $11.41.
Viavi Solutions (NASDAQ VIAV) traded down 0.09% during trading on Tuesday, hitting $10.52. 3,018,350 shares of the company traded hands. The stock has a market capitalization of $2.39 billion, a PE ratio of 29.06 and a beta of 1.36. Viavi Solutions has a 52 week low of $6.99 and a 52 week high of $11.89. The company’s 50 day moving average is $10.91 and its 200-day moving average is $10.57.
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In other Viavi Solutions news, SVP Luke M. Scrivanich sold 4,691 shares of the stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $11.39, for a total value of $53,430.49. Following the completion of the transaction, the senior vice president now owns 22,707 shares in the company, valued at $258,632.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 9,632 shares of company stock valued at $108,000 in the last 90 days. Company insiders own 0.35% of the company’s stock.
A number of hedge funds have recently bought and sold shares of VIAV. BlackRock Inc. raised its stake in Viavi Solutions by 48,994.6% in the first quarter. BlackRock Inc. now owns 30,339,979 shares of the communications equipment provider’s stock valued at $325,243,000 after buying an additional 30,278,180 shares during the period. Teachers Advisors LLC raised its stake in Viavi Solutions by 568.2% in the first quarter. Teachers Advisors LLC now owns 2,600,431 shares of the communications equipment provider’s stock worth $27,877,000 after buying an additional 2,211,252 shares during the last quarter. Norges Bank bought a new stake in Viavi Solutions during the fourth quarter worth approximately $17,437,000. Victory Capital Management Inc. bought a new stake in Viavi Solutions during the second quarter worth approximately $19,852,000. Finally, Renaissance Technologies LLC raised its stake in Viavi Solutions by 36.1% in the second quarter. Renaissance Technologies LLC now owns 6,628,606 shares of the communications equipment provider’s stock worth $69,799,000 after buying an additional 1,756,862 shares during the last quarter. 93.25% of the stock is currently owned by institutional investors.
About Viavi Solutions
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.
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