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

Viavi Solutions (NASDAQ:VIAV) had its price target raised by equities researchers at B. Riley from $10.00 to $12.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the communications equipment provider’s stock. B. Riley’s price target would indicate a potential downside of 1.74% from the stock’s current price.

A number of other research firms also recently weighed in on VIAV. Needham & Company LLC upgraded Viavi Solutions from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Friday. UBS Group started coverage on shares of Viavi Solutions in a research note on Tuesday, November 19th. They set a “neutral” rating and a $10.60 price target on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $13.00 price objective (up previously from $12.00) on shares of Viavi Solutions in a research note on Friday. Morgan Stanley boosted their price objective on shares of Viavi Solutions from $9.50 to $10.00 and gave the stock an “underweight” rating in a report on Friday. Finally, StockNews.com raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Viavi Solutions has an average rating of “Moderate Buy” and a consensus price target of $11.76.

Viavi Solutions Stock Performance

Viavi Solutions stock traded up $2.22 during trading hours on Friday, reaching $12.21. 11,599,791 shares of the stock were exchanged, compared to its average volume of 1,945,610. The stock has a market cap of $2.71 billion, a P/E ratio of -71.83 and a beta of 0.91. The firm’s 50 day moving average is $10.26 and its 200 day moving average is $9.22. 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 has a 52-week low of $6.60 and a 52-week high of $12.91.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, meeting 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 firm had revenue of $238.20 million during the quarter, compared to the consensus estimate of $240.09 million. During the same quarter last year, the firm earned $0.05 earnings per share. The firm’s revenue was down 3.9% compared to the same quarter last year. Analysts predict that Viavi Solutions will post 0.18 EPS for the current fiscal year.

Insider Transactions at Viavi Solutions

In related news, Director Masood Jabbar sold 15,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $10.14, for a total value of $152,100.00. Following the completion of the transaction, the director now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Luke M. Scrivanich sold 2,802 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $10.43, for a total transaction of $29,224.86. Following the sale, the senior vice president now directly owns 54,517 shares in the company, valued at $568,612.31. This represents a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,802 shares of company stock valued at $481,625 in the last ninety days. Corporate insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Leeward Investments LLC MA increased its stake in 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 valued at $15,385,000 after purchasing an additional 249,554 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Viavi Solutions by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,194,959 shares of the communications equipment provider’s stock valued at $28,819,000 after acquiring an additional 217,399 shares during the last quarter. Dean Investment Associates LLC lifted its holdings in shares of Viavi Solutions by 189.6% during the 3rd quarter. Dean Investment Associates LLC now owns 280,239 shares of the communications equipment provider’s stock worth $2,528,000 after acquiring an additional 183,481 shares during the period. Edgestream Partners L.P. boosted its position in shares of Viavi Solutions by 100.2% in the third quarter. Edgestream Partners L.P. now owns 330,313 shares of the communications equipment provider’s stock worth $2,979,000 after acquiring an additional 165,339 shares during the last quarter. Finally, Tributary Capital Management LLC grew its holdings in Viavi Solutions by 14.5% in the fourth quarter. Tributary Capital Management LLC now owns 1,277,654 shares of the communications equipment provider’s stock valued at $12,904,000 after purchasing an additional 161,532 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 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.