Viavi Solutions (NASDAQ:VIAV) Given New $10.50 Price Target at Rosenblatt Securities

Viavi Solutions (NASDAQ:VIAV) had its target price raised by Rosenblatt Securities from $8.25 to $10.50 in a research report sent to investors on Friday morning, Benzinga reports. Rosenblatt Securities currently has a neutral rating on the communications equipment provider’s stock.

A number of other analysts also recently issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research report on Friday, August 9th. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Stifel Nicolaus lowered their price target on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, B. Riley decreased their target price on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Viavi Solutions currently has an average rating of “Moderate Buy” and an average price target of $10.42.

Viavi Solutions Trading Up 6.9 %

VIAV traded up $0.64 during mid-day trading on Friday, hitting $9.86. The stock had a trading volume of 5,240,542 shares, compared to its average volume of 1,413,873. The stock’s fifty day simple moving average is $8.81 and its 200-day simple moving average is $8.01. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -58.00 and a beta of 0.90. Viavi Solutions has a 1-year low of $6.60 and a 1-year high of $11.32. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.55 and a quick ratio of 3.16.

Viavi Solutions (NASDAQ:VIAV) last announced its earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.21%. The firm had revenue of $238.20 million for the quarter, compared to the consensus estimate of $240.09 million. During the same period last year, the company posted $0.05 EPS. The business’s quarterly revenue was down 3.9% on a year-over-year basis. As a group, research analysts forecast that Viavi Solutions will post 0.17 EPS for the current fiscal year.

Insider Transactions at Viavi Solutions

In related news, EVP Paul Mcnab sold 7,324 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $7.52, for a total transaction of $55,076.48. Following the sale, the executive vice president now owns 35,631 shares in the company, valued at $267,945.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Paul Mcnab sold 7,324 shares of Viavi Solutions stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $7.52, for a total transaction of $55,076.48. Following the sale, the executive vice president now directly owns 35,631 shares in the company, valued at $267,945.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kevin Christopher Siebert sold 8,432 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $8.63, for a total transaction of $72,768.16. Following the sale, the senior vice president now directly owns 56,617 shares in the company, valued at $488,604.71. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,976 shares of company stock worth $720,562. Corporate insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of VIAV. Sequoia Financial Advisors LLC lifted its holdings in Viavi Solutions by 11.3% in the first quarter. Sequoia Financial Advisors LLC now owns 17,326 shares of the communications equipment provider’s stock valued at $157,000 after buying an additional 1,756 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of Viavi Solutions by 1.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock valued at $772,000 after acquiring an additional 2,100 shares during the period. nVerses Capital LLC boosted its stake in Viavi Solutions by 24.0% during the third quarter. nVerses Capital LLC now owns 11,900 shares of the communications equipment provider’s stock worth $107,000 after acquiring an additional 2,300 shares in the last quarter. Texas Permanent School Fund Corp grew its holdings in Viavi Solutions by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 194,787 shares of the communications equipment provider’s stock worth $1,771,000 after purchasing an additional 2,754 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in Viavi Solutions in the third quarter valued at $25,000. Institutional investors and hedge funds own 95.54% of the company’s stock.

Viavi Solutions Company Profile

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.