Viavi Solutions Inc. (NASDAQ:VIAV) Receives $10.44 Consensus Target Price from Analysts

Shares of Viavi Solutions Inc. (NASDAQ:VIAV) have been assigned a consensus rating of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $10.44.

Several brokerages have commented on VIAV. Stifel Nicolaus boosted their price target on shares of Viavi Solutions from $10.50 to $12.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a report on Monday, December 16th. Morgan Stanley restated an “underweight” rating and issued a $9.50 price target (up from $8.00) on shares of Viavi Solutions in a research note on Tuesday, December 17th. StockNews.com cut Viavi Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th. Finally, Rosenblatt Securities raised their target price on shares of Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research note on Friday, November 1st.

Insider Buying and Selling

In other news, Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $9.17, for a total value of $137,550.00. Following the transaction, the director now owns 213,514 shares of the company’s stock, valued at approximately $1,957,923.38. This represents a 6.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Luke M. Scrivanich sold 2,802 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $10.43, for a total value of $29,224.86. Following the transaction, the senior vice president now owns 54,517 shares in the company, valued at approximately $568,612.31. This trade represents a 4.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,802 shares of company stock valued at $318,875. Company insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in VIAV. Federated Hermes Inc. increased its stake in Viavi Solutions by 98,561.6% during the 2nd quarter. Federated Hermes Inc. now owns 187,457 shares of the communications equipment provider’s stock worth $1,288,000 after acquiring an additional 187,267 shares during the period. Geode Capital Management LLC increased its position in shares of Viavi Solutions by 1.0% in the third quarter. Geode Capital Management LLC now owns 5,307,974 shares of the communications equipment provider’s stock worth $47,887,000 after purchasing an additional 54,633 shares during the period. Leeward Investments LLC MA increased its position in shares of Viavi Solutions by 17.1% in the third quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider’s stock worth $15,385,000 after purchasing an additional 249,554 shares during the period. Sanctuary Advisors LLC lifted its position in Viavi Solutions by 44.1% during the third quarter. Sanctuary Advisors LLC now owns 15,938 shares of the communications equipment provider’s stock worth $144,000 after purchasing an additional 4,875 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Viavi Solutions by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,194,959 shares of the communications equipment provider’s stock worth $28,819,000 after buying an additional 217,399 shares in the last quarter. 95.54% of the stock is owned by institutional investors.

Viavi Solutions Stock Up 0.3 %

NASDAQ:VIAV opened at $10.15 on Tuesday. The stock has a 50-day simple moving average of $10.19 and a 200 day simple moving average of $8.86. Viavi Solutions has a 52-week low of $6.60 and a 52-week high of $11.49. The company has a market cap of $2.25 billion, a PE ratio of -59.70 and a beta of 0.91. 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 results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. The company had revenue of $238.20 million during the quarter, compared to analysts’ expectations of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the business earned $0.05 EPS. On average, sell-side analysts expect that Viavi Solutions will post 0.19 EPS for the current fiscal year.

About Viavi Solutions

Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.