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

Shares of Viavi Solutions Inc. (NASDAQ:VIAV) have been given an average rating of “Hold” by the nine research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $10.44.

VIAV has been the topic of several research reports. UBS Group began coverage on Viavi Solutions in a report on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 price target on the stock. Rosenblatt Securities raised their target price on shares of Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” 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 Thursday, January 9th. Stifel Nicolaus upped their price target on Viavi Solutions from $10.50 to $12.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, Northland Securities upped their price objective on Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, November 1st.

Insider Transactions at Viavi Solutions

In related news, SVP Luke M. Scrivanich sold 2,802 shares of Viavi Solutions 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 completion of the sale, the senior vice president now owns 54,517 shares of the company’s stock, valued at $568,612.31. The trade was a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 completion of the sale, the director now owns 225,333 shares of the company’s stock, valued at approximately $2,284,876.62. The trade was a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,802 shares of company stock valued at $481,625 in the last quarter. Insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of VIAV. Dimensional Fund Advisors LP boosted its position in shares of 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 buying an additional 661,450 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Viavi Solutions during the second quarter worth about $202,000. Public Sector Pension Investment Board raised its holdings in shares of Viavi Solutions by 7.7% in the second quarter. Public Sector Pension Investment Board now owns 491,202 shares of the communications equipment provider’s stock worth $3,375,000 after buying an additional 35,005 shares during the last quarter. Evergreen Capital Management LLC purchased a new stake in Viavi Solutions during the 2nd quarter valued at about $96,000. Finally, Dark Forest Capital Management LP raised its position in Viavi Solutions by 36.5% during the 2nd quarter. Dark Forest Capital Management LP now owns 95,154 shares of the communications equipment provider’s stock worth $654,000 after buying an additional 25,447 shares during the last quarter. 95.54% of the stock is owned by hedge funds and other institutional investors.

Viavi Solutions Stock Performance

NASDAQ VIAV opened at $9.71 on Friday. The business’s 50-day moving average price is $10.25 and its 200 day moving average price is $9.19. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. Viavi Solutions has a twelve month low of $6.60 and a twelve month high of $11.49. The company has a market capitalization of $2.15 billion, a PE ratio of -57.11 and a beta of 0.91.

Viavi Solutions (NASDAQ:VIAV) last announced its earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The business had revenue of $238.20 million for the quarter, compared to analyst estimates of $240.09 million. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 earnings per share. On average, research analysts predict that Viavi Solutions will post 0.19 earnings per share for the current year.

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.