Viavi Solutions (NASDAQ:VIAV) Price Target Raised to $10.50 at Rosenblatt Securities

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

VIAV has been the topic of several other reports. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research note on Friday, August 9th. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. B. Riley reduced their price objective on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Finally, Stifel Nicolaus dropped their target price on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $10.42.

Viavi Solutions Stock Performance

Viavi Solutions stock opened at $9.58 on Friday. The stock has a market cap of $2.12 billion, a P/E ratio of -56.35 and a beta of 0.90. The company has a current ratio of 3.55, a quick ratio of 3.16 and a debt-to-equity ratio of 0.93. The stock has a 50 day moving average of $8.81 and a 200-day moving average of $8.01. Viavi Solutions has a 52 week low of $6.60 and a 52 week high of $11.32.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings data 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. Viavi Solutions had a positive return on equity of 2.21% and a negative net margin of 3.78%. The firm had revenue of $238.20 million for the quarter, compared to analysts’ expectations of $240.09 million. During the same period last year, the business posted $0.05 earnings per share. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, analysts expect that Viavi Solutions will post 0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Paul Mcnab sold 7,324 shares of the firm’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 transaction, the executive vice president now directly owns 35,631 shares of the company’s stock, valued at approximately $267,945.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Paul Mcnab sold 7,324 shares of the firm’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 transaction, the executive vice president now directly owns 35,631 shares of the company’s stock, valued at approximately $267,945.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Masood Jabbar sold 30,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $8.17, for a total value of $245,100.00. Following the transaction, the director now directly owns 243,514 shares in the company, valued at $1,989,509.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 85,976 shares of company stock valued at $720,562 over the last three months. Company insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VIAV. Sequoia Financial Advisors LLC boosted its stake in Viavi Solutions by 11.3% during 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 in the last quarter. Mutual of America Capital Management LLC boosted its stake in Viavi Solutions by 423.6% during the first quarter. Mutual of America Capital Management LLC now owns 203,814 shares of the communications equipment provider’s stock valued at $1,853,000 after buying an additional 164,889 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in Viavi Solutions during the first quarter valued at about $1,916,000. Texas Permanent School Fund Corp boosted its stake in Viavi Solutions by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 194,787 shares of the communications equipment provider’s stock valued at $1,771,000 after buying an additional 2,754 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in Viavi Solutions by 26.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 26,804 shares of the communications equipment provider’s stock valued at $244,000 after buying an additional 5,623 shares in the last quarter. Institutional investors own 95.54% of the company’s stock.

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.