Argus Increases Viavi Solutions (NASDAQ:VIAV) Price Target to $16.00

Viavi Solutions (NASDAQ:VIAV - Get Free Report) had its target price hoisted by stock analysts at Argus from $13.00 to $16.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the communications equipment provider's stock. Argus' price target indicates a potential upside of 28.41% from the company's current price.

Several other equities analysts have also recently issued reports on VIAV. StockNews.com upgraded Viavi Solutions from a "buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Stifel Nicolaus reiterated a "buy" rating and set a $13.00 price target (up from $12.00) on shares of Viavi Solutions in a research report on Friday, January 31st. UBS Group upped their price objective on Viavi Solutions from $10.60 to $11.50 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Northland Securities reissued an "outperform" rating and set a $14.00 price target (up previously from $13.00) on shares of Viavi Solutions in a report on Friday, January 31st. Finally, Morgan Stanley upped their price target on shares of Viavi Solutions from $9.50 to $10.00 and gave the stock an "underweight" rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $12.33.

Viavi Solutions Stock Down 2.7 %

Shares of Viavi Solutions stock traded down $0.34 during trading on Wednesday, reaching $12.46. The company had a trading volume of 1,495,970 shares, compared to its average volume of 2,700,524. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.18 and a current ratio of 3.55. The firm's fifty day moving average is $10.55 and its 200-day moving average is $9.42. Viavi Solutions has a fifty-two week low of $6.60 and a fifty-two week high of $12.91. The company has a market cap of $2.77 billion, a price-to-earnings ratio of -69.22 and a beta of 0.92.

Insider Activity at Viavi Solutions

In related news, SVP Luke M. Scrivanich sold 2,802 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $10.43, for a total transaction of $29,224.86. Following the completion of the sale, the senior vice president now directly owns 54,517 shares of the company's stock, valued at $568,612.31. This represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Masood Jabbar sold 30,000 shares of Viavi Solutions stock in a transaction that occurred on 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 transaction, the director now owns 180,333 shares in the company, valued at approximately $1,805,133.33. This trade represents a 14.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,802 shares of company stock worth $481,625 in the last 90 days. Corporate insiders own 1.52% of the company's stock.

Hedge Funds Weigh In On Viavi Solutions

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in Viavi Solutions by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 5,307,974 shares of the communications equipment provider's stock worth $47,887,000 after purchasing an additional 54,633 shares during the period. Leeward Investments LLC MA grew its holdings in shares of Viavi Solutions by 17.1% during the third quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider's stock valued at $15,385,000 after buying an additional 249,554 shares in the last quarter. Sanctuary Advisors LLC raised its position in Viavi Solutions by 44.1% during the third quarter. Sanctuary Advisors LLC now owns 15,938 shares of the communications equipment provider's stock valued at $144,000 after buying an additional 4,875 shares during the period. Charles Schwab Investment Management Inc. raised its position in Viavi Solutions by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,194,959 shares of the communications equipment provider's stock valued at $28,819,000 after buying an additional 217,399 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its stake in Viavi Solutions by 5.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 43,732 shares of the communications equipment provider's stock worth $442,000 after acquiring an additional 2,277 shares in the last quarter. Institutional investors and hedge funds own 95.54% of the company's stock.

About Viavi Solutions

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.