Viavi Solutions (NASDAQ:VIAV) Hits New 1-Year High After Analyst Upgrade

Viavi Solutions Inc. (NASDAQ:VIAV) reached a new 52-week high during trading on Saturday after UBS Group raised their price target on the stock from $10.60 to $11.50. UBS Group currently has a neutral rating on the stock. Viavi Solutions traded as high as $12.91 and last traded at $12.04, with a volume of 17597862 shares changing hands. The stock had previously closed at $9.99.

VIAV has been the topic of several other reports. Needham & Company LLC upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Friday. Northland Securities reiterated an “outperform” rating and issued a $14.00 price target (up previously from $13.00) on shares of Viavi Solutions in a research note on Friday. Stifel Nicolaus restated a “buy” rating and set a $13.00 price objective (up from $12.00) on shares of Viavi Solutions in a research report on Friday. B. Riley boosted their price objective on Viavi Solutions from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Rosenblatt Securities increased their target price on Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Viavi Solutions currently has an average rating of “Moderate Buy” and an average price target of $11.88.

Insiders Place Their Bets

In related news, SVP Luke M. Scrivanich sold 2,802 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $10.43, for a total value 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. The trade was a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Masood Jabbar sold 30,000 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $10.01, for a total value of $300,300.00. Following the completion of the sale, the director now owns 180,333 shares of the company’s stock, valued at $1,805,133.33. The trade was a 14.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,802 shares of company stock valued at $481,625. 1.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Leeward Investments LLC MA lifted its stake in shares of 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 worth $15,385,000 after acquiring an additional 249,554 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in 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 worth $28,819,000 after purchasing an additional 217,399 shares during the last quarter. Dean Investment Associates LLC lifted its position in shares of Viavi Solutions by 189.6% in the 3rd quarter. Dean Investment Associates LLC now owns 280,239 shares of the communications equipment provider’s stock worth $2,528,000 after purchasing an additional 183,481 shares during the period. Edgestream Partners L.P. boosted its stake in shares of Viavi Solutions by 100.2% in the 3rd quarter. Edgestream Partners L.P. now owns 330,313 shares of the communications equipment provider’s stock valued at $2,979,000 after purchasing an additional 165,339 shares during the last quarter. Finally, Tributary Capital Management LLC increased its position in shares of Viavi Solutions by 14.5% during the fourth quarter. Tributary Capital Management LLC now owns 1,277,654 shares of the communications equipment provider’s stock worth $12,904,000 after buying an additional 161,532 shares during the period. 95.54% of the stock is owned by institutional investors and hedge funds.

Viavi Solutions Price Performance

The firm has a market cap of $2.67 billion, a P/E ratio of -70.82 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 business’s 50 day moving average is $10.30 and its two-hundred day moving average is $9.27.

Viavi Solutions (NASDAQ:VIAV) last posted 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. The firm had revenue of $238.20 million during the quarter, compared to analyst estimates of $240.09 million. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the company posted $0.05 EPS. As a group, analysts anticipate that Viavi Solutions Inc. will post 0.18 earnings per share for the current year.

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.