Viavi Solutions Inc (VIAV) Receives $13.18 Consensus Price Target from Brokerages

Viavi Solutions Inc (NASDAQ:VIAV) has been assigned a consensus rating of “Buy” from the thirteen analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating and eleven have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $13.18.

Several research firms recently commented on VIAV. Northland Securities began coverage on shares of Viavi Solutions in a research report on Tuesday, February 12th. They issued an “outperform” rating and a $15.00 price objective on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 price objective on shares of Viavi Solutions in a research report on Sunday, February 10th. BidaskClub upgraded shares of Viavi Solutions from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 15th. TheStreet upgraded shares of Viavi Solutions from a “c” rating to a “b-” rating in a research report on Wednesday, February 6th. Finally, ValuEngine upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Monday, February 4th.

In related news, SVP Luke M. Scrivanich sold 4,810 shares of the business’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $13.29, for a total value of $63,924.90. Following the completion of the transaction, the senior vice president now owns 45,456 shares of the company’s stock, valued at approximately $604,110.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 6,915 shares of company stock valued at $91,685 in the last three months. 0.50% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in VIAV. SG Americas Securities LLC raised its stake in Viavi Solutions by 878.7% in the 3rd quarter. SG Americas Securities LLC now owns 363,811 shares of the communications equipment provider’s stock valued at $4,126,000 after purchasing an additional 326,638 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Viavi Solutions by 13.1% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 54,123 shares of the communications equipment provider’s stock valued at $614,000 after acquiring an additional 6,251 shares during the last quarter. Eagle Asset Management Inc. increased its stake in shares of Viavi Solutions by 1.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 563,132 shares of the communications equipment provider’s stock valued at $6,385,000 after acquiring an additional 10,763 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Viavi Solutions by 118.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 33,057 shares of the communications equipment provider’s stock valued at $375,000 after acquiring an additional 17,912 shares during the last quarter. Finally, Suffolk Capital Management LLC acquired a new position in shares of Viavi Solutions during the 3rd quarter valued at about $874,000. 91.83% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ VIAV opened at $12.12 on Thursday. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 24.24 and a beta of 0.90. Viavi Solutions has a one year low of $9.11 and a one year high of $13.48. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.70 and a current ratio of 2.99.

Viavi Solutions (NASDAQ:VIAV) last issued its earnings results on Tuesday, February 5th. The communications equipment provider reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. Viavi Solutions had a negative net margin of 3.76% and a positive return on equity of 15.82%. The company had revenue of $298.40 million for the quarter, compared to analyst estimates of $280.93 million. During the same period in the previous year, the firm earned $0.09 EPS. The business’s revenue was up 47.9% on a year-over-year basis. Analysts forecast that Viavi Solutions will post 0.55 EPS for the current year.

Viavi Solutions Company Profile

Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military, and avionics customers worldwide. The company operates through Network Enablement, Service Enablement, and Optical Security and Performance Products segments.

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Analyst Recommendations for Viavi Solutions (NASDAQ:VIAV)

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