Viavi Solutions Inc. (NASDAQ:VIAV) Receives $10.44 Consensus Price Target from Analysts

Viavi Solutions Inc. (NASDAQ:VIAV) has earned an average rating of “Hold” from the nine brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $10.44.

VIAV has been the topic of a number of recent research reports. Rosenblatt Securities raised their target price on shares of Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a report on Friday, November 1st. Morgan Stanley restated an “underweight” rating and issued a $9.50 price target (up previously from $8.00) on shares of Viavi Solutions in a research note on Tuesday, December 17th. Stifel Nicolaus raised their price target on shares of Viavi Solutions from $10.50 to $12.00 and gave the company a “buy” rating in a research report on Monday, December 16th. UBS Group started coverage on shares of Viavi Solutions in a report on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 target price on the stock. Finally, Northland Securities upped their target price on shares of Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, November 1st.

Insider Buying and Selling

In other news, Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $10.14, for a total value of $152,100.00. Following the transaction, the director now owns 225,333 shares in the company, valued at $2,284,876.62. This represents a 6.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Luke M. Scrivanich sold 2,802 shares of the stock in a transaction on Wednesday, December 11th. The stock was 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 approximately $568,612.31. This represents a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,802 shares of company stock valued at $318,875. Company insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On Viavi Solutions

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its stake 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 acquiring an additional 1,298,394 shares during the period. Dimensional Fund Advisors LP boosted its position in Viavi Solutions by 12.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,818,337 shares of the communications equipment provider’s stock valued at $39,972,000 after purchasing an additional 661,450 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in shares of Viavi Solutions by 9.2% in the second quarter. Westwood Holdings Group Inc. now owns 7,203,703 shares of the communications equipment provider’s stock valued at $49,489,000 after buying an additional 606,522 shares in the last quarter. Leeward Investments LLC MA increased its stake in shares of Viavi Solutions by 17.1% during the 3rd quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider’s stock worth $15,385,000 after purchasing an additional 249,554 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Viavi Solutions by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,194,959 shares of the communications equipment provider’s stock valued at $28,819,000 after buying an additional 217,399 shares during the period. 95.54% of the stock is owned by institutional investors and hedge funds.

Viavi Solutions Price Performance

VIAV stock opened at $10.10 on Tuesday. Viavi Solutions has a fifty-two week low of $6.60 and a fifty-two week high of $11.49. The business’s fifty day moving average price is $10.15 and its two-hundred day moving average price is $8.80. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of -59.41 and a beta of 0.92. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.71 and a quick ratio of 3.31.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. The business 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%. Viavi Solutions’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.05 EPS. On average, equities analysts anticipate that Viavi Solutions will post 0.19 earnings per share for the current year.

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.