Viavi Solutions (NASDAQ:VIAV) Stock Price Expected to Rise, Northland Securities Analyst Says

Viavi Solutions (NASDAQ:VIAV - Free Report) had its price target hoisted by Northland Securities from $11.00 to $13.00 in a research note released on Friday morning, Benzinga reports. The firm currently has an outperform rating on the communications equipment provider's stock.

VIAV has been the topic of several other reports. B. Riley lowered their price target on Viavi Solutions from $9.00 to $8.50 and set a "neutral" rating on the stock in a research note on Friday, August 9th. StockNews.com upgraded Viavi Solutions from a "hold" rating to a "buy" rating in a research note on Tuesday, September 10th. Rosenblatt Securities lifted their price target on shares of Viavi Solutions from $8.25 to $10.50 and gave the stock a "neutral" rating in a research note on Friday. Stifel Nicolaus dropped their price objective on shares of Viavi Solutions from $13.00 to $10.50 and set a "buy" rating for the company in a research note on Tuesday, August 6th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Viavi Solutions in a research note on Friday. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $10.42.

Viavi Solutions Stock Performance

Shares of Viavi Solutions stock traded up $0.64 during trading on Friday, reaching $9.86. The company's stock had a trading volume of 5,240,542 shares, compared to its average volume of 1,785,021. The business's fifty day moving average price is $8.78 and its 200-day moving average price is $8.00. Viavi Solutions has a one year low of $6.60 and a one year high of $11.32. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of -58.29 and a beta of 0.91. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.16 and a current ratio of 3.55.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, hitting analysts' consensus estimates of $0.06. Viavi Solutions had a positive return on equity of 3.81% and a negative net margin of 2.58%. The company had revenue of $238.20 million during the quarter, compared to analyst estimates of $240.09 million. During the same period in the previous year, the company earned $0.05 earnings per share. The company's quarterly revenue was down 3.9% compared to the same quarter last year. As a group, equities research analysts predict that Viavi Solutions will post 0.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Luke M. Scrivanich sold 3,029 shares of the firm's stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $8.86, for a total transaction of $26,836.94. Following the completion of the sale, the senior vice president now directly owns 57,319 shares of the company's stock, valued at $507,846.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Viavi Solutions news, SVP Luke M. Scrivanich sold 3,029 shares of the firm's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $8.86, for a total value of $26,836.94. Following the completion of the sale, the senior vice president now owns 57,319 shares in the company, valued at approximately $507,846.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Masood Jabbar sold 30,000 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $8.17, for a total transaction of $245,100.00. Following the transaction, the director now owns 243,514 shares in the company, valued at $1,989,509.38. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,976 shares of company stock valued at $720,562. 1.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Viavi Solutions

Institutional investors and hedge funds have recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in shares of Viavi Solutions during the 3rd quarter valued at $25,000. Innealta Capital LLC bought a new stake in Viavi Solutions in the second quarter valued at about $38,000. Quarry LP lifted its stake in Viavi Solutions by 419.7% in the second 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 period. Summit Securities Group LLC bought a new position in Viavi Solutions during the second quarter worth about $52,000. Finally, Headlands Technologies LLC acquired a new position in shares of Viavi Solutions during the 1st quarter worth about $55,000. Institutional investors own 95.54% of the company's stock.

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.