Viavi Solutions (NASDAQ:VIAV) Stock Price Expected to Rise, B. Riley Analyst Says

Viavi Solutions (NASDAQ:VIAV) had its target price raised by stock analysts at B. Riley from $10.00 to $12.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the communications equipment provider’s stock. B. Riley’s price objective would suggest a potential downside of 1.74% from the company’s previous close.

Several other equities analysts have also commented on the stock. Rosenblatt Securities upped their price objective 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. Northland Securities restated an “outperform” rating and set a $14.00 price target (up from $13.00) on shares of Viavi Solutions in a research report on Friday. Morgan Stanley lifted their price objective on Viavi Solutions from $9.50 to $10.00 and gave the company an “underweight” rating in a research note on Friday. Needham & Company LLC raised Viavi Solutions from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Friday. Finally, StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Viavi Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $11.76.

Viavi Solutions Trading Up 22.2 %

VIAV stock traded up $2.22 during midday trading on Friday, hitting $12.21. 11,599,791 shares of the company’s stock were exchanged, compared to its average volume of 1,945,610. Viavi Solutions has a 1-year low of $6.60 and a 1-year high of $12.91. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $2.71 billion, a PE ratio of -71.83 and a beta of 0.91. The business has a 50-day simple moving average of $10.26 and a two-hundred day simple moving average of $9.22.

Viavi Solutions (NASDAQ:VIAV) last issued 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 analyst estimates of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. Viavi Solutions’s revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 EPS. On average, sell-side analysts predict that Viavi Solutions will post 0.18 EPS for the current fiscal year.

Insider Transactions at Viavi Solutions

In other Viavi Solutions news, SVP Luke M. Scrivanich sold 2,802 shares of the firm’s 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 sale, the senior vice president now directly owns 54,517 shares in the company, valued at $568,612.31. This trade represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the director now directly owns 225,333 shares of the company’s stock, valued at approximately $2,284,876.62. This represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,802 shares of company stock valued at $481,625. 1.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Viavi Solutions

Several institutional investors have recently added to or reduced their stakes in VIAV. Capital Performance Advisors LLP purchased a new position in Viavi Solutions in the third quarter valued at approximately $25,000. Quarry LP boosted its holdings in shares of Viavi Solutions by 419.7% in the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock valued at $50,000 after buying an additional 5,838 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Viavi Solutions in the 2nd quarter valued at $76,000. KBC Group NV raised its stake in Viavi Solutions by 53.0% during the 3rd quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock worth $85,000 after acquiring an additional 3,252 shares in the last quarter. Finally, Gilbert & Cook Inc. purchased a new stake in Viavi Solutions in the third quarter valued at $95,000. Hedge funds and other institutional investors 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.