Viavi Solutions (NASDAQ:VIAV) Price Target Cut to $10.50

Viavi Solutions (NASDAQ:VIAV) had its price target reduced by investment analysts at Stifel Nicolaus from $13.00 to $10.50 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the communications equipment provider’s stock. Stifel Nicolaus’ target price points to a potential upside of 41.13% from the company’s current price.

A number of other research firms have also weighed in on VIAV. Susquehanna lowered shares of Viavi Solutions from a “positive” rating to a “neutral” rating and set a $9.00 price objective on the stock. in a research note on Friday, May 3rd. Argus upgraded Viavi Solutions to a “strong-buy” rating in a research note on Thursday, May 9th. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research report on Friday, May 3rd. Finally, Rosenblatt Securities cut shares of Viavi Solutions from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $10.00 to $8.25 in a research note on Wednesday, June 26th. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $11.15.

Viavi Solutions Trading Down 0.4 %

Shares of NASDAQ:VIAV opened at $7.44 on Tuesday. The company has a quick ratio of 3.35, a current ratio of 3.81 and a debt-to-equity ratio of 0.90. Viavi Solutions has a 52-week low of $6.60 and a 52-week high of $11.32. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -372.00 and a beta of 0.91. The business has a 50-day moving average price of $7.42 and a 200-day moving average price of $8.40.

Insider Buying and Selling

In related news, EVP Paul Mcnab sold 6,822 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $7.33, for a total value of $50,005.26. Following the completion of the sale, the executive vice president now owns 42,955 shares of the company’s stock, valued at $314,860.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Viavi Solutions

Several institutional investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC boosted its stake in shares of Viavi Solutions by 11.3% in the first quarter. Sequoia Financial Advisors LLC now owns 17,326 shares of the communications equipment provider’s stock valued at $157,000 after purchasing an additional 1,756 shares during the period. Louisiana State Employees Retirement System boosted its position in Viavi Solutions by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock valued at $772,000 after buying an additional 2,100 shares during the period. Handelsbanken Fonder AB grew its stake in shares of Viavi Solutions by 7.4% in the fourth quarter. Handelsbanken Fonder AB now owns 33,210 shares of the communications equipment provider’s stock worth $334,000 after acquiring an additional 2,300 shares in the last quarter. First National Bank of Omaha grew its stake in shares of Viavi Solutions by 5.4% in the fourth quarter. First National Bank of Omaha now owns 51,146 shares of the communications equipment provider’s stock worth $515,000 after acquiring an additional 2,633 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its position in shares of Viavi Solutions by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 194,787 shares of the communications equipment provider’s stock worth $1,771,000 after acquiring an additional 2,754 shares during the period. Hedge funds and other institutional investors own 95.54% of the company’s stock.

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.