Viavi Solutions (NASDAQ:VIAV) Given New $11.50 Price Target at UBS Group

Viavi Solutions (NASDAQ:VIAV) had its price objective increased by UBS Group from $10.60 to $11.50 in a research note published on Friday,Benzinga reports. UBS Group currently has a neutral rating on the communications equipment provider’s stock.

A number of other equities research analysts have also recently issued reports on VIAV. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Stifel Nicolaus reissued a “buy” rating and issued a $13.00 price target (up from $12.00) on shares of Viavi Solutions in a research note on Friday. Morgan Stanley lifted their price target on shares of Viavi Solutions from $9.50 to $10.00 and gave the company an “underweight” rating in a research report on Friday. Needham & Company LLC upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Friday. Finally, Northland Securities reaffirmed an “outperform” rating and issued a $14.00 price objective (up previously from $13.00) on shares of Viavi Solutions in a research report on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.88.

Viavi Solutions Price Performance

Shares of VIAV stock opened at $12.04 on Friday. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of -70.82 and a beta of 0.91. The stock’s fifty day simple moving average is $10.30 and its 200 day simple moving average is $9.27. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.71 and a quick ratio of 3.31. Viavi Solutions has a one year low of $6.60 and a one year high of $12.91.

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 analysts’ consensus estimates of $0.06. The firm had revenue of $238.20 million during the quarter, compared to analysts’ expectations of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.05 earnings per share. On average, analysts expect that Viavi Solutions will post 0.18 earnings per share for the current fiscal year.

Insider Transactions at Viavi Solutions

In related news, SVP Luke M. Scrivanich sold 2,802 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 54,517 shares in the company, valued at approximately $568,612.31. This represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Masood Jabbar sold 30,000 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $10.01, for a total value of $300,300.00. Following the completion of the sale, the director now owns 180,333 shares in the company, valued at approximately $1,805,133.33. The trade was a 14.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,802 shares of company stock worth $481,625. Insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of VIAV. Capital Performance Advisors LLP purchased a new position in Viavi Solutions during the third quarter worth about $25,000. Quarry LP grew its holdings in Viavi Solutions by 419.7% in the second quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock valued at $50,000 after purchasing an additional 5,838 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Viavi Solutions during the 4th quarter valued at about $75,000. KBC Group NV raised its position in shares of 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 purchasing an additional 3,252 shares during the last quarter. Finally, Gilbert & Cook Inc. purchased a new stake in shares of Viavi Solutions in the third quarter valued at $95,000. 95.54% of the stock is currently owned by institutional investors and hedge funds.

About Viavi Solutions

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.