Brokerages Set Viavi Solutions Inc. (NASDAQ:VIAV) Price Target at $10.71

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

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

Insiders Place Their Bets

In other news, Director Masood Jabbar sold 15,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $8.20, for a total transaction of $123,000.00. Following the completion of the sale, the director now directly owns 228,514 shares of the company’s stock, valued at approximately $1,873,814.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Viavi Solutions news, Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $8.20, for a total value of $123,000.00. Following the transaction, the director now directly owns 228,514 shares of the company’s stock, valued at approximately $1,873,814.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Paul Mcnab sold 7,324 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $7.52, for a total transaction of $55,076.48. Following the transaction, the executive vice president now owns 35,631 shares in the company, valued at $267,945.12. The disclosure for this sale can be found here. In the last three months, insiders sold 67,947 shares of company stock valued at $556,175. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Viavi Solutions

Institutional investors and hedge funds have recently bought and sold shares of the business. Innealta Capital LLC acquired a new position in shares of Viavi Solutions during the second quarter valued at $38,000. Quarry LP grew its position in Viavi Solutions by 419.7% in the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock worth $50,000 after purchasing an additional 5,838 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Viavi Solutions in the second quarter valued at approximately $52,000. Headlands Technologies LLC bought a new stake in shares of Viavi Solutions during the first quarter valued at approximately $55,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Viavi Solutions during the second quarter worth approximately $76,000. Institutional investors and hedge funds own 95.54% of the company’s stock.

Viavi Solutions Stock Up 3.1 %

NASDAQ:VIAV opened at $8.73 on Friday. Viavi Solutions has a 52 week low of $6.60 and a 52 week high of $11.32. The stock’s fifty day moving average is $8.02 and its two-hundred day moving average is $8.03. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -436.50 and a beta of 0.91. The company has a quick ratio of 3.16, a current ratio of 3.55 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 (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $252.00 million for the quarter, compared to analyst estimates of $251.83 million. Viavi Solutions had a positive return on equity of 3.81% and a negative net margin of 2.58%. Research analysts anticipate that Viavi Solutions will post 0.17 EPS for the current year.

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.