Viavi Solutions (NASDAQ:VIAV) Price Target Raised to $12.00 at Stifel Nicolaus

Viavi Solutions (NASDAQ:VIAV - Get Free Report) had its price target increased by analysts at Stifel Nicolaus from $10.50 to $12.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the communications equipment provider's stock. Stifel Nicolaus' target price indicates a potential upside of 7.53% from the stock's current price.

Several other research analysts also recently commented on the company. Rosenblatt Securities boosted their target price on Viavi Solutions from $8.25 to $10.50 and gave the stock a "neutral" rating in a research note on Friday, November 1st. Northland Securities raised their price objective on Viavi Solutions from $11.00 to $13.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. UBS Group initiated coverage on Viavi Solutions in a report on Tuesday, November 19th. They set a "neutral" rating and a $10.60 price objective for the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Viavi Solutions in a research note on Monday. Finally, StockNews.com upgraded shares of Viavi Solutions from a "hold" rating to a "buy" rating in a research report on Friday, December 6th. Six investment 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 stock. According to MarketBeat.com, Viavi Solutions presently has an average rating of "Moderate Buy" and a consensus target price of $10.66.

Viavi Solutions Trading Up 1.0 %

Viavi Solutions stock traded up $0.11 during midday trading on Monday, hitting $11.16. 2,044,719 shares of the stock were exchanged, compared to its average volume of 1,772,283. Viavi Solutions has a 52 week low of $6.60 and a 52 week high of $11.49. The company has a quick ratio of 3.31, a current ratio of 3.71 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $2.48 billion, a PE ratio of -65.65 and a beta of 0.92. The company has a fifty day simple moving average of $9.88 and a two-hundred day simple moving average of $8.57.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share for the quarter, hitting analysts' consensus estimates of $0.06. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The firm had revenue of $238.20 million for the quarter, compared to the consensus estimate of $240.09 million. During the same quarter in the previous year, the business earned $0.05 earnings per share. The business's revenue was down 3.9% compared to the same quarter last year. Equities research analysts anticipate that Viavi Solutions will post 0.19 EPS for the current fiscal year.

Insider Activity

In other Viavi Solutions news, SVP Luke M. Scrivanich sold 2,802 shares of Viavi Solutions 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 transaction, the senior vice president now owns 54,517 shares of the company's stock, valued at $568,612.31. The trade was a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Masood Jabbar sold 15,000 shares of the company's stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $10.14, for a total transaction of $152,100.00. Following the completion of the transaction, the director now directly owns 225,333 shares of the company's stock, valued at $2,284,876.62. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,831 shares of company stock valued at $345,712 in the last ninety days. 1.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Viavi Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new stake in shares of Viavi Solutions in the 3rd quarter valued at approximately $25,000. Innealta Capital LLC purchased a new position in shares of Viavi Solutions during the second quarter valued at $38,000. Quarry LP lifted its position in shares of Viavi Solutions by 419.7% in the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider's stock worth $50,000 after purchasing an additional 5,838 shares during the period. Summit Securities Group LLC purchased a new position in shares of Viavi Solutions in the 2nd quarter valued at $52,000. Finally, KBC Group NV raised its holdings in Viavi Solutions by 53.0% in the third quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider's stock worth $85,000 after purchasing an additional 3,252 shares in the last quarter. 95.54% of the stock is owned by hedge funds and other institutional investors.

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.