Viavi Solutions (NASDAQ:VIAV) Given New $8.50 Price Target at B. Riley

Viavi Solutions (NASDAQ:VIAV) had its price target decreased by stock analysts at B. Riley from $9.00 to $8.50 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the communications equipment provider’s stock. B. Riley’s price target indicates a potential upside of 16.12% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Stifel Nicolaus cut their target price on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a report on Tuesday. Argus upgraded Viavi Solutions to a “strong-buy” rating in a research note on Thursday, May 9th. Susquehanna cut Viavi Solutions from a “positive” rating to a “neutral” rating and set a $9.00 price target on the stock. in a research report on Friday, May 3rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research report on Friday. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.71.

Viavi Solutions Stock Down 6.9 %

NASDAQ VIAV traded down $0.54 on Friday, hitting $7.32. 1,237,590 shares of the stock traded hands, compared to its average volume of 1,863,609. The company has a market capitalization of $1.63 billion, a P/E ratio of -363.00 and a beta of 0.91. The stock has a 50-day moving average of $7.43 and a 200 day moving average of $8.40. The company has a current ratio of 3.81, a quick ratio of 3.35 and a debt-to-equity ratio of 0.90. Viavi Solutions has a twelve month low of $6.60 and a twelve month high of $11.32.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. Viavi Solutions had a positive return on equity of 4.65% and a negative net margin of 0.42%. The business had revenue of $252.00 million for the quarter, compared to analyst estimates of $251.83 million. As a group, analysts expect that Viavi Solutions will post 0.12 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Paul Mcnab sold 6,822 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $7.33, for a total value of $50,005.26. Following the completion of the transaction, the executive vice president now directly owns 42,955 shares of the company’s stock, valued at approximately $314,860.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Viavi Solutions

Hedge funds and other institutional investors have recently modified their holdings of the stock. Innealta Capital LLC acquired a new position in Viavi Solutions during the 2nd quarter valued at about $38,000. Headlands Technologies LLC acquired a new position in shares of Viavi Solutions during the first quarter valued at approximately $55,000. Summit Securities Group LLC bought a new stake in Viavi Solutions during the second quarter worth approximately $52,000. Park Avenue Securities LLC acquired a new stake in Viavi Solutions in the first quarter worth approximately $99,000. Finally, Versor Investments LP bought a new position in Viavi Solutions during the 4th quarter valued at $110,000. 95.54% of the stock is currently owned by institutional investors.

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.