Viavi Solutions (NASDAQ:VIAV) Hits New 52-Week High - Time to Buy?

Viavi Solutions Inc. (NASDAQ:VIAV - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $11.49 and last traded at $11.11, with a volume of 371445 shares trading hands. The stock had previously closed at $11.11.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Viavi Solutions in a research report on Friday, November 1st. Northland Securities increased their target price on Viavi Solutions from $11.00 to $13.00 and gave the company an "outperform" rating in a report on Friday, November 1st. StockNews.com raised Viavi Solutions from a "hold" rating to a "buy" rating in a research note on Friday, December 6th. UBS Group began coverage on Viavi Solutions in a research report on Tuesday, November 19th. They issued a "neutral" rating and a $10.60 price objective for the company. Finally, Rosenblatt Securities raised their target price on shares of Viavi Solutions from $8.25 to $10.50 and gave the stock a "neutral" rating in a report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued 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 price target of $10.44.

Viavi Solutions Stock Down 0.5 %

The company has a debt-to-equity ratio of 0.91, a current ratio of 3.71 and a quick ratio of 3.31. The stock has a market capitalization of $2.45 billion, a PE ratio of -65.00 and a beta of 0.92. The company has a 50 day moving average price of $9.84 and a 200-day moving average price of $8.54.

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, meeting analysts' consensus estimates of $0.06. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The business had revenue of $238.20 million for the quarter, compared to the consensus estimate of $240.09 million. During the same period in the previous year, the firm earned $0.05 EPS. The company's quarterly revenue was down 3.9% compared to the same quarter last year. As a group, analysts forecast that Viavi Solutions Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Viavi Solutions 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 owns 54,517 shares of the company's stock, valued at approximately $568,612.31. This trade represents 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 accessible through this link. Also, Director Masood Jabbar sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $10.14, for a total value of $152,100.00. Following the completion of the sale, the director now directly owns 225,333 shares in the company, valued at approximately $2,284,876.62. This represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,831 shares of company stock valued at $468,712 over the last three months. Corporate insiders own 1.52% of the company's stock.

Institutional Investors Weigh In On Viavi Solutions

A number of institutional investors have recently modified their holdings of the stock. Louisiana State Employees Retirement System boosted its stake in Viavi Solutions by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider's stock worth $772,000 after purchasing an additional 2,100 shares in the last quarter. nVerses Capital LLC raised its holdings in Viavi Solutions by 24.0% in the third quarter. nVerses Capital LLC now owns 11,900 shares of the communications equipment provider's stock worth $107,000 after buying an additional 2,300 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in Viavi Solutions in the third quarter worth about $25,000. 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 valued at $85,000 after buying an additional 3,252 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Viavi Solutions by 7.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,761 shares of the communications equipment provider's stock valued at $530,000 after buying an additional 4,043 shares during 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.