Viavi Solutions (NASDAQ:VIAV) Shares Gap Up - Still a Buy?

Viavi Solutions Inc. (NASDAQ:VIAV - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $10.81, but opened at $11.06. Viavi Solutions shares last traded at $10.99, with a volume of 68,053 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on VIAV shares. Rosenblatt Securities raised Viavi Solutions from a "neutral" rating to a "buy" rating and set a $14.00 target price on the stock in a research note on Friday. Stifel Nicolaus reissued a "buy" rating and set a $13.00 price objective (up from $12.00) on shares of Viavi Solutions in a research report on Friday, January 31st. Northland Securities reaffirmed an "outperform" rating and issued a $14.00 target price (up from $13.00) on shares of Viavi Solutions in a report on Friday, January 31st. Argus increased their price target on shares of Viavi Solutions from $13.00 to $16.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. Finally, StockNews.com upgraded shares of Viavi Solutions from a "buy" rating to a "strong-buy" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $12.72.

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Viavi Solutions Stock Up 0.7 %

The company has a quick ratio of 3.18, a current ratio of 3.55 and a debt-to-equity ratio of 0.94. The company has a market cap of $2.40 billion, a PE ratio of -59.94 and a beta of 0.94. The company's fifty day moving average is $11.03 and its 200-day moving average is $10.01.

Insider Transactions at Viavi Solutions

In other news, EVP Paul Mcnab sold 9,034 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $11.09, for a total value of $100,187.06. Following the transaction, the executive vice president now owns 38,775 shares in the company, valued at $430,014.75. This represents a 18.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP James L. Veler, Jr. sold 13,807 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $10.86, for a total transaction of $149,944.02. The disclosure for this sale can be found here. Insiders have sold a total of 69,966 shares of company stock worth $740,646 in the last ninety days. Insiders own 1.52% of the company's stock.

Institutional Investors Weigh In On Viavi Solutions

A number of hedge funds have recently modified their holdings of VIAV. Capital Performance Advisors LLP bought a new position in Viavi Solutions in the 3rd quarter worth $25,000. Picton Mahoney Asset Management increased its position in Viavi Solutions by 35.0% in the fourth quarter. Picton Mahoney Asset Management now owns 3,212 shares of the communications equipment provider's stock worth $32,000 after buying an additional 833 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of Viavi Solutions by 804.6% in the fourth quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider's stock worth $70,000 after buying an additional 6,171 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of Viavi Solutions during the 4th quarter valued at about $75,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Viavi Solutions by 836.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider's stock valued at $84,000 after acquiring an additional 7,434 shares during the period. Institutional investors own 95.54% of the company's stock.

Viavi Solutions Company Profile

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.