Viavi Solutions Inc. (NASDAQ:VIAV) Receives $12.00 Consensus Target Price from Brokerages

Viavi Solutions Inc. (NASDAQ:VIAV) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $12.00.

A number of equities research analysts have weighed in on VIAV shares. Stifel Nicolaus reiterated a “buy” rating and set a $13.00 price target on shares of Viavi Solutions in a research note on Monday, April 1st. Rosenblatt Securities lowered their target price on shares of Viavi Solutions from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Northland Securities raised their price target on shares of Viavi Solutions from $12.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Finally, Argus upgraded Viavi Solutions to a “strong-buy” rating in a research report on Thursday, May 9th.

Viavi Solutions Stock Performance

NASDAQ:VIAV opened at $7.39 on Monday. The firm’s 50-day moving average is $8.32 and its 200-day moving average is $9.01. The company has a market cap of $1.65 billion, a price-to-earnings ratio of -369.50 and a beta of 0.97. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.35 and a current ratio of 3.81. Viavi Solutions has a 52-week low of $7.10 and a 52-week high of $11.65.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings results on Thursday, May 2nd. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). Viavi Solutions had a negative net margin of 0.42% and a positive return on equity of 4.65%. The firm had revenue of $246.00 million for the quarter, compared to the consensus estimate of $249.08 million. During the same quarter in the prior year, the firm earned $0.02 earnings per share. The company’s revenue was down .7% on a year-over-year basis. Equities research analysts anticipate that Viavi Solutions will post 0.12 earnings per share for the current year.

Insider Transactions at Viavi Solutions

In related news, EVP Paul Mcnab sold 4,762 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $7.35, for a total transaction of $35,000.70. Following the completion of the sale, the executive vice president now directly owns 49,777 shares of the company’s stock, valued at approximately $365,860.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Viavi Solutions news, EVP Paul Mcnab sold 4,762 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $7.35, for a total transaction of $35,000.70. Following the sale, the executive vice president now owns 49,777 shares of the company’s stock, valued at approximately $365,860.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kevin Christopher Siebert sold 13,967 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $10.70, for a total transaction of $149,446.90. Following the completion of the sale, the senior vice president now owns 47,097 shares of the company’s stock, valued at approximately $503,937.90. The disclosure for this sale can be found here. Insiders have sold 37,134 shares of company stock valued at $368,753 in the last three months. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Capital World Investors raised its stake in shares of Viavi Solutions by 305.4% during the first quarter. Capital World Investors now owns 12,161,535 shares of the communications equipment provider’s stock worth $110,548,000 after buying an additional 9,161,535 shares during the last quarter. Capital Research Global Investors bought a new stake in shares of Viavi Solutions during the 1st quarter valued at $29,526,000. Norges Bank acquired a new position in shares of Viavi Solutions in the 4th quarter valued at $24,608,000. Wellington Management Group LLP boosted its position in shares of Viavi Solutions by 9.0% in 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 purchasing an additional 1,321,599 shares during the last quarter. Finally, Westwood Holdings Group Inc. grew its stake in shares of Viavi Solutions by 20.2% during the fourth quarter. Westwood Holdings Group Inc. now owns 6,573,335 shares of the communications equipment provider’s stock worth $66,193,000 after purchasing an additional 1,103,687 shares during the period. 95.54% of the stock is currently owned by institutional investors.

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.