Viavi Solutions Inc. (NASDAQ:VIAV) Receives $42.88 Average PT from Brokerages

Shares of Viavi Solutions Inc. (NASDAQ:VIAV) have been assigned a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $42.8750.

VIAV has been the subject of several research analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $70.00 price objective on shares of Viavi Solutions in a report on Wednesday, June 10th. UBS Group upped their target price on Viavi Solutions from $25.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. B. Riley Financial raised their price target on Viavi Solutions from $26.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Susquehanna raised their price target on Viavi Solutions from $65.00 to $66.00 and gave the stock a “positive” rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings cut shares of Viavi Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, July 16th.

Viavi Solutions Stock Performance

Viavi Solutions stock opened at $36.95 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.39 and a debt-to-equity ratio of 0.99. The firm has a market cap of $8.64 billion, a P/E ratio of -153.95 and a beta of 1.18. Viavi Solutions has a 1-year low of $9.61 and a 1-year high of $60.43. The firm has a 50-day moving average of $45.33 and a 200-day moving average of $38.22.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Wednesday, April 29th. The communications equipment provider reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. The company had revenue of $406.80 million for the quarter, compared to the consensus estimate of $393.80 million. Viavi Solutions had a positive return on equity of 16.80% and a negative net margin of 4.03%.Viavi Solutions’s revenue was up 42.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.15 EPS. Sell-side analysts expect that Viavi Solutions will post 0.73 EPS for the current year.

Insider Transactions at Viavi Solutions

In other news, Director Doug Gilstrap sold 10,000 shares of Viavi Solutions stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.00, for a total transaction of $550,000.00. Following the sale, the director owned 55,766 shares of the company’s stock, valued at approximately $3,067,130. The trade was a 15.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Paul Mcnab sold 2,727 shares of Viavi Solutions stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $54.96, for a total transaction of $149,875.92. Following the sale, the executive vice president directly owned 15,471 shares in the company, valued at $850,286.16. The trade was a 14.99% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 450,369 shares of company stock worth $23,789,119. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in VIAV. WPG Advisers LLC lifted its stake in shares of Viavi Solutions by 96.2% in the 1st quarter. WPG Advisers LLC now owns 775 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 380 shares during the period. State of Wyoming purchased a new stake in Viavi Solutions in the fourth quarter worth $34,000. Carolina Wealth Advisors LLC grew its stake in Viavi Solutions by 83.2% in the second quarter. Carolina Wealth Advisors LLC now owns 852 shares of the communications equipment provider’s stock worth $41,000 after purchasing an additional 387 shares during the period. Johnson Financial Group Inc. bought a new position in Viavi Solutions in the third quarter worth $44,000. Finally, Cedar Mountain Advisors LLC bought a new position in Viavi Solutions in the first quarter worth $50,000. Hedge funds and other institutional investors own 95.54% of the company’s stock.

About Viavi Solutions

Viavi Solutions Inc is a provider of network test, monitoring and assurance solutions for communications service providers, cable operators, enterprises and government agencies. The company offers an extensive portfolio of fiber optic and copper cable test and measurement instruments, wireless network testing equipment and network performance monitoring software. Its products are designed to support the deployment, maintenance and optimization of high-speed broadband, 5G wireless, data center and enterprise networks.

Viavi’s product offerings are organized into two primary segments: Network & Service Enablement and Optical Security & Performance.