Viavi Solutions Inc. (VIAV) Rating Increased to Buy at BidaskClub

Viavi Solutions Inc. (NASDAQ:VIAV) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Tuesday, July 25th.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research upgraded Viavi Solutions from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Thursday, April 6th. Jefferies Group LLC upgraded Viavi Solutions from a “hold” rating to a “buy” rating and raised their price objective for the company from $9.50 to $14.00 in a research note on Friday, May 5th. B. Riley upgraded Viavi Solutions from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Friday, July 21st. Finally, Stifel Nicolaus restated a “hold” rating and set a $11.00 price objective (up from $9.50) on shares of Viavi Solutions in a research note on Thursday, June 22nd. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $11.41.

Shares of Viavi Solutions (VIAV) traded down 0.09% on Tuesday, reaching $10.52. 3,018,350 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $10.91 and its 200-day moving average price is $10.57. Viavi Solutions has a 52-week low of $6.99 and a 52-week high of $11.89. The stock has a market cap of $2.39 billion, a P/E ratio of 29.06 and a beta of 1.36.

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In other news, SVP Luke M. Scrivanich sold 4,691 shares of Viavi Solutions stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $11.39, for a total transaction of $53,430.49. Following the sale, the senior vice president now directly owns 22,707 shares in the company, valued at approximately $258,632.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 9,632 shares of company stock worth $108,000 over the last quarter. Company insiders own 0.35% of the company’s stock.

A number of large investors have recently made changes to their positions in VIAV. BlackRock Inc. boosted its stake in shares of 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 worth $325,243,000 after buying an additional 30,278,180 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of 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 in the last quarter. Norges Bank purchased a new stake in shares of Viavi Solutions during the fourth quarter worth about $17,437,000. Victory Capital Management Inc. purchased a new stake in shares of Viavi Solutions during the second quarter worth about $19,852,000. Finally, Renaissance Technologies LLC boosted its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 93.25% of the company’s stock.

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.

Analyst Recommendations for Viavi Solutions (NASDAQ:VIAV)

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