Viavi Solutions (NASDAQ:VIAV) Price Target Raised to $12.00

Viavi Solutions (NASDAQ:VIAV) had its price objective raised by Stifel Nicolaus from $10.50 to $12.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the communications equipment provider’s stock.

Several other equities research analysts have also recently weighed in on VIAV. StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. UBS Group initiated coverage on Viavi Solutions in a report on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 target price for the company. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a report on Monday. Rosenblatt Securities raised their price target on Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Northland Securities boosted their price objective on shares of Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $10.44.

Viavi Solutions Trading Down 3.5 %

VIAV stock opened at $10.15 on Monday. The firm has a fifty day moving average price of $9.91 and a 200 day moving average price of $8.59. Viavi Solutions has a fifty-two week low of $6.60 and a fifty-two week high of $11.49. The firm has a market cap of $2.25 billion, a PE ratio of -59.70 and a beta of 0.92. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.31 and a current ratio of 3.71.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The business had revenue of $238.20 million during the quarter, compared to analysts’ expectations of $240.09 million. During the same period last year, the company posted $0.05 EPS. The business’s revenue was down 3.9% on a year-over-year basis. Sell-side analysts anticipate that Viavi Solutions will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Viavi Solutions

In other news, SVP Luke M. Scrivanich sold 3,029 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $8.86, for a total transaction of $26,836.94. Following the transaction, the senior vice president now directly owns 57,319 shares of the company’s stock, valued at approximately $507,846.34. This trade represents a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Masood Jabbar sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $9.17, for a total value of $137,550.00. Following the completion of the sale, the director now owns 213,514 shares of the company’s stock, valued at $1,957,923.38. The trade was a 6.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,831 shares of company stock valued at $345,712 in the last quarter. 1.52% of the stock is owned by insiders.

Institutional Investors Weigh In On Viavi Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of VIAV. Capital Performance Advisors LLP bought a new position in shares of Viavi Solutions during the 3rd quarter worth $25,000. Innealta Capital LLC bought a new position in Viavi Solutions during the 2nd quarter worth about $38,000. Quarry LP increased its position in Viavi Solutions by 419.7% during the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock valued at $50,000 after purchasing an additional 5,838 shares during the period. Summit Securities Group LLC purchased a new position in Viavi Solutions during the 2nd quarter valued at about $52,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Viavi Solutions in the 2nd quarter valued at about $76,000. 95.54% of the stock is owned by institutional investors.

Viavi Solutions Company Profile

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.