Viavi Solutions Inc. (NASDAQ:VIAV) Receives $10.44 Consensus Target Price from Analysts

Shares of Viavi Solutions Inc. (NASDAQ:VIAV) have received a consensus recommendation of “Hold” from the nine analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $10.44.

A number of research analysts recently commented on VIAV shares. Northland Securities increased their target price on shares of Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a report on Monday, December 16th. Morgan Stanley reissued an “underweight” rating and issued a $9.50 target price (up from $8.00) on shares of Viavi Solutions in a report on Tuesday, December 17th. Stifel Nicolaus raised their price target on Viavi Solutions from $10.50 to $12.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, UBS Group started coverage on Viavi Solutions in a research report on Tuesday, November 19th. They set a “neutral” rating and a $10.60 price target on the stock.

Viavi Solutions Trading Up 0.2 %

NASDAQ:VIAV opened at $10.12 on Tuesday. Viavi Solutions has a 1 year low of $6.60 and a 1 year high of $11.49. The stock has a market cap of $2.24 billion, a P/E ratio of -59.53 and a beta of 0.91. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.31 and a current ratio of 3.71. The stock has a 50-day simple moving average of $10.17 and a 200-day simple moving average of $8.83.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly 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. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The firm had revenue of $238.20 million during the quarter, compared to the consensus estimate of $240.09 million. During the same period in the prior year, the company posted $0.05 earnings per share. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. As a group, analysts anticipate that Viavi Solutions will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Masood Jabbar sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $10.14, for a total value of $152,100.00. Following the completion of the sale, the director now directly owns 225,333 shares of the company’s stock, valued at $2,284,876.62. This trade represents a 6.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Luke M. Scrivanich sold 2,802 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly owns 54,517 shares in the company, valued at $568,612.31. This represents a 4.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,802 shares of company stock valued at $318,875 over the last three months. 1.52% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viavi Solutions

Several institutional investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new position in shares of Viavi Solutions in the 3rd quarter valued at about $25,000. Quarry LP grew its position in Viavi Solutions by 419.7% during the second quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock worth $50,000 after buying an additional 5,838 shares during the period. Sanctuary Advisors LLC purchased a new position in Viavi Solutions in the second quarter valued at about $76,000. KBC Group NV lifted 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 valued at $85,000 after acquiring an additional 3,252 shares during the period. Finally, Gilbert & Cook Inc. purchased a new stake in shares of Viavi Solutions during the 3rd quarter worth approximately $95,000. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

Viavi Solutions Company Profile

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.