Viavi Solutions (NASDAQ:VIAV) Sets New 1-Year High – Time to Buy?

Shares of Viavi Solutions Inc. (NASDAQ:VIAV) reached a new 52-week high during trading on Friday . The stock traded as high as $11.49 and last traded at $11.11, with a volume of 371445 shares traded. The stock had previously closed at $11.11.

Analyst Ratings Changes

VIAV has been the subject of several research analyst reports. StockNews.com raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research report on Friday, November 1st. Northland Securities boosted their target price on Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Rosenblatt Securities raised their price target on Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, UBS Group assumed coverage on Viavi Solutions in a research note on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 price objective on the stock. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $10.44.

Viavi Solutions Stock Performance

The company has a fifty day moving average of $9.80 and a two-hundred day moving average of $8.50. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91.

Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $238.20 million during the quarter, compared to analyst estimates 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 revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the business earned $0.05 EPS. Sell-side analysts forecast that Viavi Solutions Inc. will post 0.19 EPS for the current year.

Insider Transactions at Viavi Solutions

In related news, 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 owns 54,517 shares of the company’s stock, valued at $568,612.31. This trade represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Masood Jabbar sold 15,000 shares of Viavi Solutions stock in a transaction that occurred on Thursday, November 14th. The stock was 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 in the company, 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. Over the last ninety days, insiders have sold 50,831 shares of company stock worth $468,712. Insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC raised its position in Viavi Solutions by 306.7% during the 2nd quarter. SG Americas Securities LLC now owns 54,567 shares of the communications equipment provider’s stock worth $375,000 after buying an additional 41,149 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in Viavi Solutions by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock valued at $772,000 after purchasing an additional 2,100 shares during the period. Bank of New York Mellon Corp boosted its holdings in Viavi Solutions by 65.2% in the second quarter. Bank of New York Mellon Corp now owns 3,290,197 shares of the communications equipment provider’s stock valued at $22,604,000 after purchasing an additional 1,298,394 shares during the last quarter. Summit Securities Group LLC purchased a new stake in Viavi Solutions in the second quarter valued at $52,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Viavi Solutions by 20.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 54,718 shares of the communications equipment provider’s stock worth $376,000 after purchasing an additional 9,380 shares during the period. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

About Viavi Solutions

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.