Brokerages Set Viavi Solutions Inc. (NASDAQ:VIAV) Target Price at $10.44

Viavi Solutions Inc. (NASDAQ:VIAV) has earned a consensus rating of “Hold” from the nine analysts that are presently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $10.44.

A number of equities research analysts recently issued reports on VIAV shares. Northland Securities raised their price target on Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Rosenblatt Securities lifted their price target 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. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a report on Friday, November 1st. Finally, UBS Group started coverage on shares of Viavi Solutions in a research note on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 price objective on the stock.

Insider Buying and Selling at Viavi Solutions

In other Viavi Solutions news, SVP Luke M. Scrivanich sold 3,029 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $8.86, for a total transaction of $26,836.94. Following the completion of the transaction, the senior vice president now owns 57,319 shares in the company, valued at approximately $507,846.34. This represents a 5.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Masood Jabbar sold 15,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $8.20, for a total transaction of $123,000.00. Following the transaction, the director now directly owns 228,514 shares of the company’s stock, valued at $1,873,814.80. This represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,831 shares of company stock worth $468,712 over the last 90 days. Corporate insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On Viavi Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in shares of Viavi Solutions by 5.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 158,829 shares of the communications equipment provider’s stock valued at $1,445,000 after buying an additional 7,796 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of Viavi Solutions during the 1st quarter valued at about $564,000. Harbor Capital Advisors Inc. increased its position in Viavi Solutions by 64.4% during the second quarter. Harbor Capital Advisors Inc. now owns 43,735 shares of the communications equipment provider’s stock worth $300,000 after purchasing an additional 17,140 shares during the last quarter. SG Americas Securities LLC raised its stake in Viavi Solutions by 306.7% during the second quarter. SG Americas Securities LLC now owns 54,567 shares of the communications equipment provider’s stock worth $375,000 after purchasing an additional 41,149 shares during the period. Finally, Louisiana State Employees Retirement System boosted its holdings in shares of Viavi Solutions by 1.9% in 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 purchasing an additional 2,100 shares during the last quarter. 95.54% of the stock is owned by institutional investors and hedge funds.

Viavi Solutions Price Performance

NASDAQ VIAV opened at $11.11 on Friday. The company has a quick ratio of 3.31, a current ratio of 3.71 and a debt-to-equity ratio of 0.91. Viavi Solutions has a 52 week low of $6.60 and a 52 week high of $11.32. The firm has a market capitalization of $2.46 billion, a P/E ratio of -65.35 and a beta of 0.92. The company has a 50-day moving average price of $9.80 and a 200-day moving average price of $8.50.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The firm had revenue of $238.20 million for the quarter, compared to analysts’ expectations of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 earnings per share. Equities research analysts anticipate that Viavi Solutions will post 0.19 earnings per share for the current year.

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.