Stock Repurchase Program Authorized by Viavi Solutions (VIAV)

Viavi Solutions (NASDAQ:VIAV) declared that its board has authorized a share buyback plan, which authorizes the company to buyback $50.00 million in shares on Thursday, February 15th, EventVestor reports. This buyback authorization authorizes the communications equipment provider to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

A number of research firms have weighed in on VIAV. Loop Capital began coverage on Viavi Solutions in a research note on Monday, January 29th. They set a “hold” rating and a $9.50 price objective for the company. Morgan Stanley lifted their price objective on Viavi Solutions from $9.00 to $10.50 and gave the company an “equal weight” rating in a research note on Friday, February 2nd. BidaskClub upgraded Viavi Solutions from a “strong sell” rating to a “sell” rating in a research note on Monday, February 5th. Stifel Nicolaus reiterated a “hold” rating on shares of Viavi Solutions in a research note on Tuesday, October 24th. Finally, Rosenblatt Securities set a $13.00 price objective on Viavi Solutions and gave the company a “buy” rating in a research note on Wednesday, December 13th. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. Viavi Solutions has an average rating of “Hold” and an average target price of $11.93.

Viavi Solutions (VIAV) opened at $9.86 on Wednesday. The company has a quick ratio of 2.06, a current ratio of 2.18 and a debt-to-equity ratio of 0.48. Viavi Solutions has a 52 week low of $8.34 and a 52 week high of $11.89. The firm has a market capitalization of $2,260.00, a PE ratio of 98.60, a P/E/G ratio of 1.62 and a beta of 1.80.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Thursday, February 1st. The communications equipment provider reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.02. Viavi Solutions had a return on equity of 9.60% and a net margin of 3.94%. The firm had revenue of $201.80 million during the quarter, compared to analyst estimates of $185.80 million. During the same quarter in the previous year, the business earned $0.10 EPS. Viavi Solutions’s revenue for the quarter was down 2.3% compared to the same quarter last year. research analysts forecast that Viavi Solutions will post 0.31 earnings per share for the current year.

In other Viavi Solutions news, Director Richard Belluzzo sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $9.00, for a total transaction of $90,000.00. Following the completion of the sale, the director now directly owns 195,651 shares in the company, valued at approximately $1,760,859. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Keith Barnes sold 13,500 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $9.75, for a total value of $131,625.00. Following the sale, the director now owns 119,545 shares of the company’s stock, valued at $1,165,563.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,509 shares of company stock valued at $275,898. 0.59% of the stock is owned by company insiders.

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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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