Viavi Solutions (NASDAQ:VIAV) Price Target Raised to $18.00 at Needham & Company LLC


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Viavi Solutions (NASDAQ:VIAV) had its target price upped by analysts at Needham & Company LLC from $16.00 to $18.00 in a research report issued to clients and investors on Tuesday, Anlyst Ratings reports. The brokerage presently has a “buy” rating on the communications equipment provider’s stock. Needham & Company LLC’s target price would indicate a potential upside of 13.64% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Viavi Solutions from a “buy” rating to a “hold” rating and set a $17.00 price target for the company. in a research note on Thursday, January 7th. TheStreet cut shares of Viavi Solutions from a “b-” rating to a “c” rating in a research report on Thursday, September 24th. Morgan Stanley raised their price target on Viavi Solutions from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 15th. Finally, BidaskClub upgraded Viavi Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, December 30th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Viavi Solutions presently has a consensus rating of “Buy” and a consensus price target of $16.44.

NASDAQ:VIAV opened at $15.84 on Tuesday. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 121.86 and a beta of 0.85. The company has a debt-to-equity ratio of 0.84, a quick ratio of 3.57 and a current ratio of 3.92. The stock’s fifty day moving average price is $14.35 and its two-hundred day moving average price is $13.25. Viavi Solutions has a 52-week low of $8.08 and a 52-week high of $16.10.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings results on Thursday, November 5th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. The business had revenue of $284.70 million for the quarter, compared to analyst estimates of $276.57 million. Viavi Solutions had a return on equity of 18.00% and a net margin of 2.53%. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 earnings per share. On average, equities analysts predict that Viavi Solutions will post 0.52 EPS for the current fiscal year.

In related news, EVP Paul Mcnab sold 12,248 shares of the stock in a transaction that occurred on Wednesday, December 9th. The stock was sold at an average price of $13.88, for a total transaction of $170,002.24. Following the completion of the sale, the executive vice president now directly owns 48,345 shares of the company’s stock, valued at approximately $671,028.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Oleg Khaykin sold 160,892 shares of the firm’s stock in a transaction that occurred on Wednesday, November 18th. The stock was sold at an average price of $13.61, for a total transaction of $2,189,740.12. Following the sale, the chief executive officer now owns 691,581 shares in the company, valued at $9,412,417.41. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 185,795 shares of company stock worth $2,529,073. Corporate insiders own 1.10% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Private Advisor Group LLC acquired a new position in Viavi Solutions in the 2nd quarter worth $25,000. Nisa Investment Advisors LLC bought a new stake in shares of Viavi Solutions in the third quarter valued at about $64,000. Creative Financial Designs Inc. ADV boosted its position in shares of Viavi Solutions by 176.0% during the third quarter. Creative Financial Designs Inc. ADV now owns 6,667 shares of the communications equipment provider’s stock worth $78,000 after buying an additional 4,251 shares during the period. Keebeck Alpha LP bought a new position in shares of Viavi Solutions during the third quarter worth about $119,000. Finally, First Republic Investment Management Inc. acquired a new stake in Viavi Solutions in the 2nd quarter valued at approximately $165,000. 94.68% of the stock is currently owned by institutional investors and hedge funds.

Viavi Solutions Company Profile

Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, government, civil, military, and avionics customers worldwide. The company operates through three segments: Network Enablement (NE), Service Enablement (SE), and Optical Security and Performance Products (OSP) segments.

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Analyst Recommendations for Viavi Solutions (NASDAQ:VIAV)

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