Brokerages Set Viavi Solutions Inc. (NASDAQ:VIAV) Price Target at $13.60

Shares of Viavi Solutions Inc. (NASDAQ:VIAV) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $13.60.

Several research firms have issued reports on VIAV. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research report on Monday, April 1st. Morgan Stanley increased their price objective on Viavi Solutions from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 6th. Stifel Nicolaus reiterated a “buy” rating and issued a $13.00 price objective on shares of Viavi Solutions in a research report on Monday, April 1st. Northland Securities increased their price objective on Viavi Solutions from $12.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Finally, StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Friday, April 12th.

Insiders Place Their Bets

In other news, SVP Kevin Christopher Siebert sold 13,967 shares of Viavi Solutions stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $10.70, for a total value of $149,446.90. Following the transaction, the senior vice president now owns 47,097 shares in the company, valued at $503,937.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Kevin Christopher Siebert sold 13,967 shares of Viavi Solutions stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $10.70, for a total value of $149,446.90. Following the transaction, the senior vice president now owns 47,097 shares in the company, valued at $503,937.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Paul Mcnab sold 15,004 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $10.62, for a total value of $159,342.48. Following the transaction, the executive vice president now owns 57,940 shares in the company, valued at approximately $615,322.80. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of VIAV. Norges Bank purchased a new position in Viavi Solutions during the 4th quarter valued at about $24,608,000. Wellington Management Group LLP grew its holdings in shares of Viavi Solutions by 9.0% during the 3rd quarter. Wellington Management Group LLP now owns 15,925,361 shares of the communications equipment provider’s stock worth $145,558,000 after acquiring an additional 1,321,599 shares during the period. Westwood Holdings Group Inc. grew its holdings in shares of Viavi Solutions by 20.2% during the 4th quarter. Westwood Holdings Group Inc. now owns 6,573,335 shares of the communications equipment provider’s stock worth $66,193,000 after acquiring an additional 1,103,687 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Viavi Solutions by 98.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,070,353 shares of the communications equipment provider’s stock worth $18,820,000 after acquiring an additional 1,025,987 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Viavi Solutions by 36.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,872,760 shares of the communications equipment provider’s stock worth $26,257,000 after acquiring an additional 768,759 shares during the period. Hedge funds and other institutional investors own 95.54% of the company’s stock.

Viavi Solutions Price Performance

Shares of NASDAQ VIAV opened at $7.92 on Thursday. The stock has a fifty day simple moving average of $9.19 and a two-hundred day simple moving average of $9.04. Viavi Solutions has a 1-year low of $7.26 and a 1-year high of $11.65. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 396.00 and a beta of 0.95. The company has a current ratio of 3.09, a quick ratio of 2.72 and a debt-to-equity ratio of 0.87.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings data on Thursday, February 1st. The communications equipment provider reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. Viavi Solutions had a return on equity of 5.38% and a net margin of 0.49%. The business had revenue of $254.50 million during the quarter, compared to analyst estimates of $249.77 million. Analysts anticipate that Viavi Solutions will post 0.22 earnings per share for the current year.

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.