Brokerages Set Viavi Solutions Inc. (NASDAQ:VIAV) Target Price at $10.44

Shares of Viavi Solutions Inc. (NASDAQ:VIAV) have received an average recommendation of “Hold” from the nine ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $10.44.

VIAV has been the topic of several research reports. Stifel Nicolaus boosted their price objective on shares of Viavi Solutions from $10.50 to $12.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Rosenblatt Securities boosted their price objective on shares of Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research report on Friday, November 1st. Morgan Stanley reissued an “underweight” rating and set a $9.50 price target (up from $8.00) on shares of Viavi Solutions in a research report on Tuesday, December 17th. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a research report on Monday, December 16th. Finally, UBS Group started coverage on shares of Viavi Solutions in a research report on Tuesday, November 19th. They set a “neutral” rating and a $10.60 price target on the stock.

Viavi Solutions Price Performance

Shares of VIAV stock opened at $9.90 on Friday. Viavi Solutions has a 12-month low of $6.60 and a 12-month high of $11.49. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -58.23 and a beta of 0.91. The company has a quick ratio of 3.31, a current ratio of 3.71 and a debt-to-equity ratio of 0.91. The firm has a fifty day moving average of $10.26 and a 200-day moving average of $9.21.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $238.20 million for 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 firm’s revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 EPS. On average, equities research analysts forecast that Viavi Solutions will post 0.19 earnings per share for the current year.

Insider Activity at Viavi Solutions

In related news, SVP Luke M. Scrivanich sold 2,802 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $10.43, for a total transaction of $29,224.86. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Masood Jabbar sold 15,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $10.14, for a total transaction of $152,100.00. Following the completion of the transaction, the director now directly owns 225,333 shares of the company’s stock, valued at approximately $2,284,876.62. The trade was a 6.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,802 shares of company stock worth $481,625. Insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On Viavi Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new position in Viavi Solutions in the 3rd quarter valued at approximately $25,000. Quarry LP raised its stake in shares of Viavi Solutions by 419.7% during the second quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock valued at $50,000 after acquiring an additional 5,838 shares during the last quarter. KBC Group NV raised its stake in shares of Viavi Solutions by 53.0% during the third quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock valued at $85,000 after acquiring an additional 3,252 shares during the last quarter. Gilbert & Cook Inc. bought a new position in shares of Viavi Solutions during the third quarter valued at $95,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Viavi Solutions during the second quarter valued at $76,000. Institutional investors own 95.54% of the company’s stock.

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.