Viavi Solutions (NASDAQ:VIAV) Reaches New 1-Year High on Analyst Upgrade

Shares of Viavi Solutions Inc. (NASDAQ:VIAV - Get Free Report) hit a new 52-week high during mid-day trading on Saturday after StockNews.com upgraded the stock from a buy rating to a strong-buy rating. The stock traded as high as $12.91 and last traded at $12.04, with a volume of 17597862 shares. The stock had previously closed at $9.99.

Several other research analysts have also recently issued reports on the stock. B. Riley increased their price target on shares of Viavi Solutions from $10.00 to $12.00 and gave the stock a "neutral" rating in a report on Friday. Northland Securities reissued an "outperform" rating and issued a $14.00 price target (up from $13.00) on shares of Viavi Solutions in a report on Friday. Needham & Company LLC raised Viavi Solutions from a "hold" rating to a "buy" rating and set a $15.00 price objective on the stock in a report on Friday. Rosenblatt Securities increased their price objective on Viavi Solutions from $8.25 to $10.50 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus restated a "buy" rating and set a $13.00 target price (up from $12.00) on shares of Viavi Solutions in a research report on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $11.88.

Insider Buying and Selling

In other news, SVP Luke M. Scrivanich sold 2,802 shares of the firm's 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 transaction, the senior vice president now directly owns 54,517 shares of the company's stock, valued at $568,612.31. This trade represents a 4.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Masood Jabbar sold 30,000 shares of the company's stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $10.01, for a total value of $300,300.00. Following the completion of the sale, the director now directly owns 180,333 shares in the company, valued at approximately $1,805,133.33. The trade was 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 worth $481,625 in the last three months. Corporate insiders own 1.52% of the company's stock.

Hedge Funds Weigh In On Viavi Solutions

Several hedge funds have recently bought and sold shares of VIAV. Capital Performance Advisors LLP acquired a new stake in shares of Viavi Solutions during the third quarter valued at $25,000. Venturi Wealth Management LLC purchased a new position in Viavi Solutions in the 4th quarter valued at about $75,000. Sanctuary Advisors LLC acquired a new stake in shares of Viavi Solutions during the 2nd quarter worth about $76,000. KBC Group NV grew its holdings in shares of Viavi Solutions by 53.0% during the third quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider's stock worth $85,000 after buying an additional 3,252 shares in the last quarter. Finally, Gilbert & Cook Inc. acquired a new position in shares of Viavi Solutions in the third quarter valued at approximately $95,000. Hedge funds and other institutional investors own 95.54% of the company's stock.

Viavi Solutions Stock Up 1.5 %

The firm's 50 day moving average is $10.39 and its 200-day moving average is $9.34. The firm has a market cap of $2.77 billion, a PE ratio of -69.50 and a beta of 0.92. The company has a quick ratio of 3.18, a current ratio of 3.55 and a debt-to-equity ratio of 0.94.

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.