Viavi Solutions Inc. (NASDAQ:VIAV) Stock Has Consensus Price Target of $59.67

Viavi Solutions Inc. (NASDAQ:VIAV) has been given an average rating of “Moderate Buy” by the eight ratings firms that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $57.83.

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC cut their price target on shares of Viavi Solutions from $60.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, November 5th. B. Riley Financial decreased their price objective on shares of Viavi Solutions from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Rosenblatt Securities restated a “buy” rating and set a $70.00 target price on shares of Viavi Solutions in a research report on Wednesday, September 23rd. UBS Group dropped their target price on shares of Viavi Solutions from $44.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, November 5th. Finally, Zacks Research downgraded shares of Viavi Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 12th.

Insider Transactions at Viavi Solutions

In related news, Director Laura Black sold 71,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $46.12, for a total value of $3,274,520.00. Following the completion of the transaction, the director directly owned 71,497 shares of the company’s stock, valued at $3,297,441.64. This trade represents a 49.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Paul McNab sold 11,032 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $38.97, for a total value of $429,917.04. Following the completion of the transaction, the executive vice president directly owned 25,639 shares of the company’s stock, valued at $999,151.83. The trade was a 30.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 198,099 shares of company stock worth $7,916,628. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in VIAV. BlackRock Inc. purchased a new stake in shares of Viavi Solutions in the 2nd quarter worth about $1,228,529,000. Assenagon Asset Management S.A. increased its holdings in Viavi Solutions by 1,402.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 5,639,752 shares of the communications equipment provider’s stock valued at $236,418,000 after acquiring an additional 5,264,496 shares in the last quarter. Bank of America Corp DE purchased a new position in Viavi Solutions during the 2nd quarter valued at about $134,922,000. Allspring Global Investments Holdings LLC acquired a new position in Viavi Solutions during the first quarter worth about $75,294,000. Finally, Bank of New York Mellon Corp acquired a new position in Viavi Solutions during the second quarter worth about $87,914,000. Hedge funds and other institutional investors own 95.54% of the company’s stock.

Viavi Solutions Trading Down 3.0%

Shares of VIAV stock opened at $31.01 on Friday. The business’s fifty day moving average price is $36.48 and its 200 day moving average price is $38.76. Viavi Solutions has a 1-year low of $15.51 and a 1-year high of $60.43. The firm has a market capitalization of $7.63 billion, a PE ratio of 129.21 and a beta of 1.31. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.65 and a quick ratio of 1.40.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data on Wednesday, November 4th. The communications equipment provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.06. Viavi Solutions had a return on equity of 25.36% and a net margin of 3.97%. The firm had revenue of $469.30 million during the quarter, compared to analysts’ expectations of $455.06 million. During the same quarter in the prior year, the business posted $0.15 earnings per share. Viavi Solutions’s revenue was up 56.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Viavi Solutions will post 1.42 EPS for the current fiscal year.

About Viavi Solutions

Viavi Solutions Inc. develops testing, monitoring and assurance solutions for communications networks. Its products and software help service providers, equipment makers and enterprises build, maintain and troubleshoot fiber-optic, broadband, wireless and other network infrastructure, including technologies used in 5G and data centers. The company also makes optical technologies and security products, including features used to authenticate banknotes, identity documents and branded goods. These offerings support applications in areas such as anti-counterfeiting, document security and optical coatings.