Viavi Solutions (NASDAQ:VIAV) Given New $13.00 Price Target at Northland Securities

Viavi Solutions (NASDAQ:VIAV) had its price objective hoisted by Northland Securities from $11.00 to $13.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the communications equipment provider’s stock.

A number of other equities research analysts have also issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research report on Friday. Stifel Nicolaus decreased their target price on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research note on Tuesday, August 6th. B. Riley cut their price target on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a report on Friday, August 9th. StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Finally, Rosenblatt Securities raised their price target on Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.42.

Viavi Solutions Price Performance

Shares of VIAV stock traded up $0.64 during mid-day trading on Friday, reaching $9.86. The stock had a trading volume of 5,240,542 shares, compared to its average volume of 1,413,873. The business has a 50-day simple moving average of $8.81 and a 200 day simple moving average of $8.01. The company has a current ratio of 3.55, a quick ratio of 3.16 and a debt-to-equity ratio of 0.93. Viavi Solutions has a 12-month low of $6.60 and a 12-month high of $11.32. The company has a market cap of $2.19 billion, a P/E ratio of -58.00 and a beta of 0.90.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. Viavi Solutions had a positive return on equity of 2.21% and a negative net margin of 3.78%. The firm had revenue of $238.20 million for the quarter, compared to analyst estimates of $240.09 million. During the same period in the previous year, the company posted $0.05 EPS. Viavi Solutions’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, sell-side analysts anticipate that Viavi Solutions will post 0.17 earnings per share for the current year.

Insider Buying and Selling at Viavi Solutions

In other news, Director Masood Jabbar sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $9.17, for a total value of $137,550.00. Following the transaction, the director now owns 213,514 shares in the company, valued at $1,957,923.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Viavi Solutions news, Director Masood Jabbar sold 15,000 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $9.17, for a total transaction of $137,550.00. Following the sale, the director now owns 213,514 shares of the company’s stock, valued at $1,957,923.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Luke M. Scrivanich sold 3,029 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $8.86, for a total transaction of $26,836.94. Following the completion of the transaction, the senior vice president now directly owns 57,319 shares in the company, valued at approximately $507,846.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,976 shares of company stock worth $720,562. Insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On Viavi Solutions

Several hedge funds and other institutional investors have recently modified their holdings of VIAV. Sequoia Financial Advisors LLC grew its holdings in shares of Viavi Solutions by 11.3% during the first quarter. Sequoia Financial Advisors LLC now owns 17,326 shares of the communications equipment provider’s stock valued at $157,000 after buying an additional 1,756 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in shares of 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 buying an additional 2,100 shares in the last quarter. nVerses Capital LLC boosted its stake in shares of Viavi Solutions by 24.0% during the 3rd quarter. nVerses Capital LLC now owns 11,900 shares of the communications equipment provider’s stock worth $107,000 after purchasing an additional 2,300 shares during the period. Texas Permanent School Fund Corp boosted its stake in shares of Viavi Solutions by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 194,787 shares of the communications equipment provider’s stock worth $1,771,000 after purchasing an additional 2,754 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in Viavi Solutions in the 3rd quarter valued at about $25,000. 95.54% of the stock is owned by 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.