UBS Group Raises Viavi Solutions (NASDAQ:VIAV) Price Target to $11.50

Viavi Solutions (NASDAQ:VIAV) had its price objective increased by UBS Group from $10.60 to $11.50 in a research note published on Friday,Benzinga reports. UBS Group currently has a neutral rating on the communications equipment provider’s stock.

A number of other research analysts have also recently commented on VIAV. StockNews.com raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Needham & Company LLC raised shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Friday. Morgan Stanley boosted their target price on shares of Viavi Solutions from $9.50 to $10.00 and gave the stock an “underweight” rating in a research note on Friday. Rosenblatt Securities increased their price target on Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, B. Riley raised their price objective on Viavi Solutions from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $11.88.

Viavi Solutions Trading Up 20.5 %

Shares of VIAV stock opened at $12.04 on Friday. Viavi Solutions has a fifty-two week low of $6.60 and a fifty-two week high of $12.91. The stock’s fifty day moving average price is $10.30 and its two-hundred day moving average price is $9.25. The company has a quick ratio of 3.31, a current ratio of 3.71 and a debt-to-equity ratio of 0.91.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The business had revenue of $238.20 million during the quarter, compared to the consensus estimate of $240.09 million. During the same period in the prior year, the company earned $0.05 EPS. Viavi Solutions’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, equities analysts forecast that Viavi Solutions will post 0.18 earnings per share for the current year.

Insider Buying and Selling

In other Viavi Solutions news, Director Masood Jabbar sold 15,000 shares of the firm’s 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 owns 225,333 shares in the company, valued at approximately $2,284,876.62. This trade represents a 6.24 % decrease in their position. 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 company’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 54,517 shares in the company, valued at approximately $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 have sold a total of 47,802 shares of company stock valued at $481,625 over the last 90 days. 1.52% of the stock is owned by insiders.

Hedge Funds Weigh In On Viavi Solutions

A number of hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in Viavi Solutions during the third quarter valued at $25,000. Quarry LP lifted its stake in shares of Viavi Solutions by 419.7% in 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. Venturi Wealth Management LLC bought a new stake in shares of Viavi Solutions during the 4th quarter valued at about $75,000. Sanctuary Advisors LLC acquired a new stake in Viavi Solutions during the second quarter worth approximately $76,000. Finally, KBC Group NV increased its holdings in Viavi Solutions by 53.0% in the third quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock worth $85,000 after purchasing an additional 3,252 shares in the last quarter. 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.