Rice Hall James & Associates LLC trimmed its position in shares of Viavi Solutions Inc. (NASDAQ:VIAV – Get Rating) by 0.5% during the 1st quarter, Holdings Channel reports. The firm owned 276,026 shares of the communications equipment provider's stock after selling 1,368 shares during the period. Rice Hall James & Associates LLC's holdings in Viavi Solutions were worth $4,438,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of VIAV. CWM LLC raised its position in shares of Viavi Solutions by 46.2% during the 1st quarter. CWM LLC now owns 3,987 shares of the communications equipment provider's stock valued at $64,000 after purchasing an additional 1,260 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in Viavi Solutions in the 1st quarter valued at $65,000. Cornerstone Investment Partners LLC bought a new stake in Viavi Solutions in the 1st quarter valued at $182,000. Evergreen Capital Management LLC bought a new stake in Viavi Solutions in the 1st quarter valued at $188,000. Finally, PDT Partners LLC bought a new stake in Viavi Solutions in the 1st quarter valued at $191,000. 92.83% of the stock is currently owned by institutional investors.
Get Viavi Solutions alerts:Viavi Solutions Stock Performance
NASDAQ VIAV traded up $0.14 during mid-day trading on Wednesday, reaching $14.28. 28,908 shares of the stock were exchanged, compared to its average volume of 1,753,982. The business's 50 day moving average is $14.46 and its 200-day moving average is $14.69. Viavi Solutions Inc. has a 1 year low of $12.65 and a 1 year high of $18.14. The company has a market capitalization of $3.23 billion, a P/E ratio of 282.80 and a beta of 0.77. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.42 and a current ratio of 2.72.
Viavi Solutions (NASDAQ:VIAV – Get Rating) last issued its earnings results on Thursday, August 11th. The communications equipment provider reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. Viavi Solutions had a net margin of 1.20% and a return on equity of 23.68%. The business had revenue of $335.30 million during the quarter, compared to analysts' expectations of $320.62 million. During the same period in the prior year, the business earned $0.16 earnings per share. The company's quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts forecast that Viavi Solutions Inc. will post 0.79 EPS for the current fiscal year.Analyst Ratings Changes
A number of analysts have issued reports on the stock. Needham & Company LLC downgraded shares of Viavi Solutions from a "buy" rating to a "hold" rating in a report on Tuesday, July 19th. StockNews.com upgraded shares of Viavi Solutions from a "buy" rating to a "strong-buy" rating in a report on Monday, August 15th. JPMorgan Chase & Co. dropped their price objective on shares of Viavi Solutions from $18.00 to $15.00 and set a "neutral" rating for the company in a research note on Thursday, July 14th. Susquehanna Bancshares lowered their price objective on shares of Viavi Solutions from $20.00 to $18.00 and set a "positive" rating for the company in a research report on Friday, August 12th. Finally, Susquehanna reduced their price target on shares of Viavi Solutions from $20.00 to $18.00 and set a "positive" rating for the company in a report on Friday, August 12th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $17.80.
Viavi Solutions Profile
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Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, original equipment manufacturers, government, and avionics customers worldwide. The company operates through three segments: Network Enablement (NE), Service Enablement (SE), and Optical Security and Performance Products (OSP) segments.
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