Viavi Solutions (NASDAQ:VIAV) Price Target Raised to $11.50

Viavi Solutions (NASDAQ:VIAV) had its target price lifted by UBS Group from $10.60 to $11.50 in a research note released on Friday morning,Benzinga reports. They currently have a neutral rating on the communications equipment provider’s stock.

VIAV has been the subject of a number of other reports. Northland Securities reaffirmed an “outperform” rating and issued a $14.00 target price (up from $13.00) on shares of Viavi Solutions in a research report on Friday. B. Riley boosted their target price on shares of Viavi Solutions from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Friday. Stifel Nicolaus reiterated a “buy” rating and issued a $13.00 price objective (up previously from $12.00) on shares of Viavi Solutions in a research report on Friday. 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 research report on Friday. Finally, Rosenblatt Securities boosted their target price on Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.88.

Viavi Solutions Stock Up 20.5 %

VIAV opened at $12.04 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.31 and a current ratio of 3.71. The company has a market capitalization of $2.67 billion, a P/E ratio of -70.82 and a beta of 0.91. The stock has a fifty day moving average of $10.30 and a 200-day moving average of $9.27. Viavi Solutions has a fifty-two week low of $6.60 and a fifty-two week high of $12.91.

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

Insider Transactions at Viavi Solutions

In other news, Director Masood Jabbar sold 30,000 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $10.01, for a total transaction of $300,300.00. Following the transaction, the director now owns 180,333 shares of the company’s stock, valued at approximately $1,805,133.33. The trade was a 14.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Luke M. Scrivanich sold 2,802 shares of Viavi Solutions stock in a transaction that occurred 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 47,802 shares of company stock valued at $481,625 in the last quarter. 1.52% of the stock is currently owned by corporate insiders.

Institutional Trading of Viavi Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in VIAV. Capital Performance Advisors LLP acquired a new stake in shares of Viavi Solutions during the 3rd quarter worth about $25,000. Quarry LP boosted its position in 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 buying an additional 5,838 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Viavi Solutions in the fourth quarter worth $75,000. KBC Group NV lifted its holdings in Viavi Solutions by 53.0% during the 3rd quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock worth $85,000 after buying an additional 3,252 shares during the last quarter. Finally, Gilbert & Cook Inc. acquired a new position in shares of Viavi Solutions in the 3rd quarter valued at about $95,000. Institutional investors and hedge funds 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.