Rosenblatt Securities Launches Hedge on Viavi Solutions (NASDAQ:VIAV)


Equity research analysts at Rosenblatt Securities assumed hedging of the shares of Viavi Solutions (NASDAQ:VIAV – Get an Assessment) in a report released Wednesday, reports The Fly. The brokerage has set a “buy” rating on the shares of the communications equipment supplier.

VIAV has been the subject of several other reports. Susquehanna Bancshares lowered its price target on Viavi Solutions from $20.00 to $18.00 and set a “positive” rating for the company in a Friday, August 12 research report. Susquehanna cut its price target on Viavi Solutions shares from $20.00 to $18.00 and set a “positive” rating for the company in a Friday, August 12 research note. JPMorgan Chase & Co. lowered its price target on shares of Viavi Solutions from $18.00 to $15.00 and set a “neutral” rating on the stock in a Thursday, July 14 research note. Needham & Company LLC downgraded shares of Viavi Solutions from a “buy” rating to a “hold” rating in a Tuesday, July 19 report. Finally, Morgan Stanley raised its price target on shares of Viavi Solutions from $16.00 to $17.00 and gave the stock an “equal weight” rating in a Wednesday, September 14 research note. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned the company a strong buy rating. According to data from MarketBeat.com, Viavi Solutions has a consensus rating of “Moderate Buy” and an average price target of $17.80.

Performance of Viavi Solutions shares

VIAV stock was down $0.10 during trading hours on Wednesday, hitting $13.93. The stock recorded a trading volume of 72,800 shares, compared to an average volume of 1,936,555 shares. The company has a debt ratio of 0.92, a current ratio of 2.72 and a quick ratio of 2.42. The stock has a market capitalization of $3.15 billion, a PE ratio of 278.40 and a beta of 0.78. Viavi Solutions has a fifty-two week minimum of $12.65 and a fifty-two week maximum of $18.14. The stock has a 50-day simple moving average of $14.40 and a 200-day simple moving average of $14.42.

Viavi Solutions (NASDAQ:VIAV – Get Rating) last released quarterly earnings data on Thursday, August 11. The communications equipment provider reported earnings per share of $0.19 for the quarter, beating the consensus estimate of $0.18 by $0.01. The company posted revenue of $335.30 million for the quarter, versus analyst estimates of $320.62 million. Viavi Solutions posted a return on equity of 23.68% and a net margin of 1.20%. Viavi Solutions revenue increased 7.8% compared to the same quarter last year. During the same period last year, the firm posted earnings per share of $0.16. Analysts expect Viavi Solutions to post an EPS of 0.78 for the current fiscal year.

Insiders place their bets

In addition, SVP Luke M. Scrivanich sold 21,027 shares in a trade that took place on Friday, September 23. The shares were sold at an average price of $13.03, for a total transaction of $273,981.81. Following the completion of the sale, the senior vice president now directly owns 43,995 shares of the company, valued at $573,254.85. The transaction was disclosed in a document filed with the SEC, which can be accessed on the SEC’s website. 1.57% of the shares are held by insiders.

Hedge funds weigh on Viavi solutions

Several large investors have recently increased or reduced their stake in the company. Wellington Management Group LLP increased its stake in Viavi Solutions by 2.4% in the first quarter. Wellington Management Group LLP now owns 21,420,992 shares of the communications equipment supplier valued at $344,451,000 after acquiring an additional 506,113 shares during the period. Capital World Investors increased its stake in Viavi Solutions by 9.6% in the 1st quarter. Capital World Investors now owns 6,830,000 shares of the communications equipment provider valued at $109,826,000 after buying an additional 598,000 shares last quarter. Westwood Holdings Group Inc. increased its position in Viavi Solutions by 24.1% during the fourth quarter. Westwood Holdings Group Inc. now owns 5,001,427 shares of the communications equipment provider worth $88,125,000 after buying an additional 970,723 shares last quarter. Woodline Partners LP increased its stake in Viavi Solutions by 11.9% in the 4th quarter. Woodline Partners LP now owns 3,373,012 shares of the communications equipment provider valued at $59,432,000 after purchasing an additional 359,784 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Viavi Solutions by 0.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,942,845 shares of the communications equipment provider valued at $31,241,000 after acquiring an additional 15,950 shares in the last quarter. Institutional investors and hedge funds own 92.83% of the company’s shares.

About Viavi Solutions

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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, governments, and network customers. avionics 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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