Rosenblatt Securities Boosts Viavi Solutions (NASDAQ:VIAV) Price Target to $10.50

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

VIAV has been the topic of several other reports. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a report on Friday, August 9th. Stifel Nicolaus lowered their price target on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a report on Tuesday, August 6th. StockNews.com raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Finally, B. Riley lowered 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. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Viavi Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $10.42.

Viavi Solutions Stock Up 6.9 %

Shares of VIAV stock opened at $9.86 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.16 and a current ratio of 3.55. The firm’s 50-day moving average is $8.81 and its 200-day moving average is $8.01. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -58.00 and a beta of 0.90. 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 earnings results 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 company had revenue of $238.20 million for 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 2.21%. Viavi Solutions’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 EPS. Sell-side analysts predict that Viavi Solutions will post 0.17 EPS for the current year.

Insider Transactions at Viavi Solutions

In other news, EVP Paul Mcnab sold 7,324 shares of the firm’s stock in a transaction that occurred 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 directly owns 35,631 shares of the company’s stock, valued at approximately $267,945.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Paul Mcnab sold 7,324 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 35,631 shares in the company, valued at approximately $267,945.12. This trade represents a 0.00 % decrease in their position. The transaction 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 that occurred on Wednesday, August 21st. The stock was sold at an average price of $8.17, for a total transaction of $245,100.00. Following the sale, the director now owns 243,514 shares in the company, valued at $1,989,509.38. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,976 shares of company stock valued at $720,562. 1.52% of the stock is currently owned by company insiders.

Institutional Trading of Viavi Solutions

Several large investors have recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in Viavi Solutions in the third quarter valued at approximately $25,000. Innealta Capital LLC acquired a new stake in Viavi Solutions in the second quarter valued at approximately $38,000. Quarry LP boosted its position 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 buying an additional 5,838 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Viavi Solutions in the second quarter valued at approximately $52,000. Finally, Headlands Technologies LLC acquired a new stake in Viavi Solutions in the first quarter valued at approximately $55,000. Institutional investors and hedge funds own 95.54% of the company’s stock.

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.