Rosenblatt Securities Issues Positive Forecast for Viavi Solutions (NASDAQ:VIAV) Stock Price

Viavi Solutions (NASDAQ:VIAV) had its target price increased by research analysts at Rosenblatt Securities from $8.25 to $10.50 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the communications equipment provider’s stock. Rosenblatt Securities’ price target would suggest a potential upside of 6.49% from the stock’s current price.

A number of other brokerages have also commented on VIAV. B. Riley cut their price target on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Friday, August 9th. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a report on Friday, August 9th. StockNews.com raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Finally, Stifel Nicolaus lowered their target price 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. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Viavi Solutions has an average rating of “Moderate Buy” and an average price target of $10.42.

Viavi Solutions Price Performance

Shares of NASDAQ:VIAV opened at $9.86 on Friday. The firm has a market cap of $2.19 billion, a PE ratio of -58.00 and a beta of 0.90. The firm’s fifty day moving average is $8.81 and its 200-day moving average is $8.01. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.16 and a current ratio of 3.55. Viavi Solutions has a 52 week low of $6.60 and a 52 week high of $11.32.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. The company 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 2.21%. Viavi Solutions’s revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.05 earnings per share. Sell-side analysts predict that Viavi Solutions will post 0.17 earnings per share for the current year.

Insider Buying and Selling

In other Viavi Solutions news, EVP Paul Mcnab sold 7,324 shares of Viavi Solutions stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $7.52, for a total value of $55,076.48. Following the completion of the sale, the executive vice president now directly owns 35,631 shares of the company’s stock, valued at approximately $267,945.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Viavi Solutions news, EVP Paul Mcnab sold 7,324 shares of Viavi Solutions stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $7.52, for a total value of $55,076.48. Following the completion of the sale, the executive vice president now directly owns 35,631 shares of the company’s stock, valued at approximately $267,945.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 approximately $488,604.71. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,976 shares of company stock valued at $720,562 over the last quarter. Insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On Viavi Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC increased its stake in Viavi Solutions by 11.3% in the first quarter. Sequoia Financial Advisors LLC now owns 17,326 shares of the communications equipment provider’s stock valued at $157,000 after purchasing an additional 1,756 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Viavi Solutions by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock valued at $772,000 after purchasing an additional 2,100 shares in the last quarter. nVerses Capital LLC grew its holdings in shares of Viavi Solutions by 24.0% during the third quarter. nVerses Capital LLC now owns 11,900 shares of the communications equipment provider’s stock valued at $107,000 after buying an additional 2,300 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of Viavi Solutions by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 194,787 shares of the communications equipment provider’s stock valued at $1,771,000 after buying an additional 2,754 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Viavi Solutions during the third quarter valued at about $25,000. 95.54% of the stock is owned by institutional investors.

About Viavi Solutions

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.