Viavi Solutions (NASDAQ:VIAV) Earns Buy Rating from Stifel Nicolaus

Viavi Solutions (NASDAQ:VIAV)‘s stock had its “buy” rating reiterated by Stifel Nicolaus in a research note issued to investors on Friday,Benzinga reports. They currently have a $13.00 price target on the communications equipment provider’s stock, up from their prior price target of $12.00. Stifel Nicolaus’ target price indicates a potential upside of 6.59% from the stock’s previous close.

VIAV has been the topic of several other research reports. Rosenblatt Securities boosted their price objective on shares of Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research note on Friday, November 1st. StockNews.com raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. Northland Securities reaffirmed an “outperform” rating and set a $14.00 price target (up previously from $13.00) on shares of Viavi Solutions in a research report on Friday. UBS Group started coverage on shares of Viavi Solutions in a research report on Tuesday, November 19th. They set a “neutral” rating and a $10.60 price target on the stock. Finally, Needham & Company LLC raised shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.33.

Viavi Solutions Trading Up 22.1 %

Shares of Viavi Solutions stock traded up $2.21 during trading on Friday, hitting $12.20. The company’s stock had a trading volume of 10,259,030 shares, compared to its average volume of 1,887,246. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.71 and a quick ratio of 3.31. Viavi Solutions has a 52 week low of $6.60 and a 52 week high of $12.91. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of -71.85 and a beta of 0.91. The stock has a 50-day moving average price of $10.26 and a two-hundred day moving average price of $9.22.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The company had revenue of $238.20 million for the quarter, compared to analysts’ expectations of $240.09 million. During the same quarter in the previous year, the firm posted $0.05 earnings per share. Viavi Solutions’s revenue for the quarter was down 3.9% on a year-over-year basis. Equities research analysts anticipate that Viavi Solutions will post 0.18 EPS for the current fiscal year.

Insider Transactions at Viavi Solutions

In related news, SVP Luke M. Scrivanich sold 2,802 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $10.43, for a total value of $29,224.86. Following the sale, the senior vice president now owns 54,517 shares in the company, valued at $568,612.31. This represents a 4.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Masood Jabbar sold 30,000 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $10.01, for a total transaction of $300,300.00. Following the completion of the sale, the director now owns 180,333 shares in the company, valued at $1,805,133.33. This represents a 14.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,802 shares of company stock valued at $481,625 in the last 90 days. 1.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Viavi Solutions

Institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC increased its stake in Viavi Solutions by 41.6% in the 2nd quarter. Millennium Management LLC now owns 396,227 shares of the communications equipment provider’s stock valued at $2,722,000 after buying an additional 116,355 shares during the last quarter. Mackenzie Financial Corp increased its stake in Viavi Solutions by 93.7% in the 2nd quarter. Mackenzie Financial Corp now owns 27,382 shares of the communications equipment provider’s stock valued at $188,000 after buying an additional 13,247 shares during the last quarter. Algert Global LLC purchased a new stake in Viavi Solutions in the 2nd quarter valued at about $154,000. Quarry LP increased its stake in Viavi Solutions by 419.7% in the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock valued at $50,000 after buying an additional 5,838 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in Viavi Solutions in the 2nd quarter valued at about $76,000. Institutional investors and hedge funds own 95.54% of the company’s stock.

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.