Analysts Set Viavi Solutions Inc. (NASDAQ:VIAV) PT at $10.71

Shares of Viavi Solutions Inc. (NASDAQ:VIAV) have been given a consensus rating of “Moderate Buy” by the eight analysts that are presently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $10.71.

A number of research analysts recently issued reports on VIAV shares. B. Riley dropped their price objective on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a report on Friday, August 9th. Stifel Nicolaus dropped their price target on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research note on Tuesday, August 6th. StockNews.com raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Rosenblatt Securities lowered Viavi Solutions from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $10.00 to $8.25 in a research report on Wednesday, June 26th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a research report on Friday, August 9th.

Viavi Solutions Trading Up 1.6 %

Shares of Viavi Solutions stock opened at $8.88 on Friday. The firm’s 50 day moving average is $8.06 and its 200 day moving average is $8.04. The firm has a market capitalization of $1.98 billion, a PE ratio of -444.00 and a beta of 0.91. Viavi Solutions has a 1 year low of $6.60 and a 1 year high of $11.32. The company has a current ratio of 3.55, a quick ratio of 3.16 and a debt-to-equity ratio of 0.93.

Viavi Solutions (NASDAQ:VIAV) last posted its earnings results on Thursday, August 8th. The communications equipment provider reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Viavi Solutions had a negative net margin of 2.58% and a positive return on equity of 3.81%. The firm had revenue of $252.00 million for the quarter, compared to analysts’ expectations of $251.83 million. Equities research analysts forecast that Viavi Solutions will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Viavi Solutions

In other news, SVP Kevin Christopher Siebert sold 8,432 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $8.63, for a total value of $72,768.16. Following the transaction, the senior vice president now directly owns 56,617 shares of the company’s stock, valued at approximately $488,604.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Luke M. Scrivanich sold 3,029 shares of the 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 transaction, the senior vice president now directly owns 57,319 shares of the company’s stock, valued at $507,846.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kevin Christopher Siebert sold 8,432 shares of Viavi Solutions stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $8.63, for a total transaction of $72,768.16. Following the completion of the sale, the senior vice president now directly owns 56,617 shares of the company’s stock, valued at $488,604.71. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,976 shares of company stock valued at $583,012. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Viavi Solutions

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Viavi Solutions by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 29,148,414 shares of the communications equipment provider’s stock valued at $264,959,000 after purchasing an additional 408,484 shares during the period. Wellington Management Group LLP raised its position in Viavi Solutions by 4.0% in the 4th quarter. Wellington Management Group LLP now owns 16,563,670 shares of the communications equipment provider’s stock valued at $166,796,000 after buying an additional 638,309 shares during the last quarter. Capital World Investors boosted its holdings in Viavi Solutions by 305.4% during the 1st quarter. Capital World Investors now owns 12,161,535 shares of the communications equipment provider’s stock worth $110,548,000 after acquiring an additional 9,161,535 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in shares of Viavi Solutions by 9.2% during 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 purchasing an additional 606,522 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Viavi Solutions by 12.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,818,337 shares of the communications equipment provider’s stock worth $39,972,000 after purchasing an additional 661,450 shares in the last quarter. Institutional investors and hedge funds own 95.54% of the company’s stock.

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.