Viavi Solutions (NASDAQ:VIAV) Shares Gap Up After Analyst Upgrade

Viavi Solutions Inc. (NASDAQ:VIAV - Get Free Report) gapped up before the market opened on Friday after Northland Securities raised their price target on the stock from $11.00 to $13.00. The stock had previously closed at $9.22, but opened at $10.00. Northland Securities currently has an outperform rating on the stock. Viavi Solutions shares last traded at $10.03, with a volume of 894,793 shares.

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

Insider Buying and Selling at Viavi Solutions

In other news, Director Masood Jabbar sold 30,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $8.17, for a total value of $245,100.00. Following the completion of the transaction, the director now directly owns 243,514 shares of the company's stock, valued at approximately $1,989,509.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Kevin Christopher Siebert sold 8,432 shares of the business's stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $8.63, for a total transaction of $72,768.16. Following the completion of the sale, the senior vice president now directly owns 56,617 shares of the company's stock, valued at $488,604.71. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Masood Jabbar sold 30,000 shares of the business's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $8.17, for a total value of $245,100.00. Following the transaction, the director now owns 243,514 shares of the company's stock, 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 corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new stake in Viavi Solutions in the 3rd quarter valued at $25,000. Innealta Capital LLC bought a new position in Viavi Solutions during the second quarter worth about $38,000. Quarry LP increased its position in Viavi Solutions by 419.7% during the second quarter. Quarry LP now owns 7,229 shares of the communications equipment provider's stock worth $50,000 after buying an additional 5,838 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Viavi Solutions in the second quarter valued at approximately $52,000. Finally, Headlands Technologies LLC bought a new position in shares of Viavi Solutions during the 1st quarter worth approximately $55,000. Institutional investors and hedge funds own 95.54% of the company's stock.

Viavi Solutions Stock Up 7.3 %

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 firm has a fifty day simple moving average of $8.78 and a 200-day simple moving average of $8.00. 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 data on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. Viavi Solutions had a negative net margin of 2.58% and a positive return on equity of 3.81%. The firm had revenue of $238.20 million during the quarter, compared to the consensus estimate of $240.09 million. During the same period last year, the business posted $0.05 earnings per share. The business's revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, sell-side analysts expect that Viavi Solutions Inc. will post 0.17 EPS for the current year.

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.