Rosenblatt Securities Upgrades Viavi Solutions (NASDAQ:VIAV) to “Buy”

Viavi Solutions (NASDAQ:VIAV) was upgraded by equities research analysts at Rosenblatt Securities from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm currently has a $14.00 price target on the communications equipment provider’s stock. Rosenblatt Securities’ price objective would suggest a potential upside of 27.97% from the company’s current price.

Several other brokerages have also issued reports on VIAV. B. Riley boosted their price target on Viavi Solutions from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Northland Securities reissued an “outperform” rating and issued a $14.00 price target (up from $13.00) on shares of Viavi Solutions in a research note on Friday, January 31st. Morgan Stanley boosted their price target on Viavi Solutions from $9.50 to $10.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. UBS Group boosted their price target on Viavi Solutions from $10.60 to $11.50 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Needham & Company LLC raised Viavi Solutions from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.72.

Viavi Solutions Price Performance

Viavi Solutions stock opened at $10.94 on Friday. The stock’s 50 day moving average is $11.02 and its 200 day moving average is $9.98. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.55 and a quick ratio of 3.18. The firm has a market cap of $2.43 billion, a P/E ratio of -60.77 and a beta of 0.94. Viavi Solutions has a one year low of $6.60 and a one year high of $12.91.

Insider Transactions at Viavi Solutions

In other news, Director Masood Jabbar sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $10.01, for a total transaction of $300,300.00. Following the transaction, the director now directly owns 180,333 shares of the company’s stock, valued at $1,805,133.33. This represents a 14.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Luke M. Scrivanich sold 14,323 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $11.24, for a total value of $160,990.52. Following the transaction, the senior vice president now directly owns 55,877 shares in the company, valued at $628,057.48. The trade was a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,159 shares of company stock valued at $590,702 over the last ninety days. 1.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Viavi Solutions

Several institutional investors have recently bought and sold shares of VIAV. Wellington Management Group LLP grew its holdings in Viavi Solutions by 26.3% during the fourth quarter. Wellington Management Group LLP now owns 19,614,684 shares of the communications equipment provider’s stock worth $198,108,000 after buying an additional 4,085,648 shares in the last quarter. Woodline Partners LP grew its holdings in Viavi Solutions by 423.7% during the fourth quarter. Woodline Partners LP now owns 3,435,678 shares of the communications equipment provider’s stock worth $34,700,000 after buying an additional 2,779,615 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in Viavi Solutions during the fourth quarter worth $16,722,000. Arrowstreet Capital Limited Partnership bought a new stake in Viavi Solutions during the fourth quarter worth $15,268,000. Finally, LMR Partners LLP bought a new stake in Viavi Solutions during the fourth quarter worth $8,080,000. Institutional investors own 95.54% of the company’s stock.

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.