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

Shares of Viavi Solutions Inc. (NASDAQ:VIAV) have earned an average recommendation of “Hold” from the nine research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $11.88.

A number of equities analysts have issued reports on VIAV shares. B. Riley increased their target price on Viavi Solutions from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday. Northland Securities reissued an “outperform” rating and issued a $14.00 target price (up previously from $13.00) on shares of Viavi Solutions in a research report on Friday. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Needham & Company LLC raised shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Friday. Finally, Rosenblatt Securities boosted their price objective on shares of Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research report on Friday, November 1st.

Viavi Solutions Price Performance

Shares of VIAV opened at $12.04 on Friday. The stock has a 50 day simple moving average of $10.30 and a 200 day simple moving average of $9.25. Viavi Solutions has a 52-week low of $6.60 and a 52-week high of $12.91. 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 firm has a market capitalization of $2.67 billion, a PE ratio of -70.82 and a beta of 0.91.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings results 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 during 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 business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.05 earnings per share. Sell-side analysts predict that Viavi Solutions will post 0.18 EPS for the current fiscal year.

Insider Buying and Selling at Viavi Solutions

In other Viavi Solutions news, Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $10.14, for a total value of $152,100.00. Following the sale, the director now owns 225,333 shares in the company, valued at $2,284,876.62. This represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $10.43, for a total value of $29,224.86. Following the transaction, the senior vice president now owns 54,517 shares of the company’s stock, valued at $568,612.31. This represents a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,802 shares of company stock worth $481,625 over the last quarter. 1.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Viavi Solutions

Several hedge funds have recently added to or reduced their stakes in VIAV. Capital Performance Advisors LLP bought a new position in shares of Viavi Solutions in the third quarter valued at about $25,000. Quarry LP lifted its position in Viavi Solutions by 419.7% during the second quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock worth $50,000 after acquiring an additional 5,838 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Viavi Solutions during the fourth quarter worth approximately $75,000. KBC Group NV grew its position in shares of Viavi Solutions by 53.0% in the third quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock valued at $85,000 after purchasing an additional 3,252 shares during the last quarter. Finally, Gilbert & Cook Inc. bought a new position in shares of Viavi Solutions during the third quarter worth approximately $95,000. Institutional investors and hedge funds own 95.54% of the company’s stock.

Viavi Solutions Company Profile

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.