Viavi Solutions (NASDAQ:VIAV) Price Target Cut to $13.00 by Analysts at Rosenblatt Securities

Viavi Solutions (NASDAQ:VIAVFree Report) had its price objective trimmed by Rosenblatt Securities from $15.00 to $13.00 in a research report sent to investors on Wednesday, Benzinga reports. The firm currently has a buy rating on the communications equipment provider’s stock.

VIAV has been the topic of several other research reports. Susquehanna upped their price objective on Viavi Solutions from $12.00 to $14.00 and gave the company a positive rating in a research note on Thursday, March 7th. StockNews.com upgraded Viavi Solutions from a hold rating to a buy rating in a research note on Friday, March 15th. Needham & Company LLC reissued a hold rating on shares of Viavi Solutions in a research report on Monday. Morgan Stanley increased their price target on Viavi Solutions from $9.00 to $11.00 and gave the stock an equal weight rating in a research report on Wednesday, March 6th. Finally, Northland Securities increased their price target on Viavi Solutions from $12.00 to $17.00 and gave the stock an outperform rating in a research report on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Viavi Solutions currently has a consensus rating of Moderate Buy and a consensus price target of $13.17.

View Our Latest Analysis on VIAV

Viavi Solutions Stock Performance

VIAV opened at $9.03 on Wednesday. Viavi Solutions has a 52-week low of $7.26 and a 52-week high of $11.65. The firm has a market capitalization of $2.01 billion, a PE ratio of 451.50 and a beta of 0.95. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.72 and a current ratio of 3.09. The business’s 50-day simple moving average is $9.69 and its 200 day simple moving average is $9.12.

Viavi Solutions (NASDAQ:VIAVGet Free Report) last released its quarterly earnings data on Thursday, February 1st. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. The firm had revenue of $254.50 million for the quarter, compared to analyst estimates of $249.77 million. Viavi Solutions had a return on equity of 5.38% and a net margin of 0.49%. As a group, sell-side analysts expect that Viavi Solutions will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Viavi Solutions

In other Viavi Solutions news, SVP Kevin Christopher Siebert sold 13,967 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $10.70, for a total value of $149,446.90. Following the sale, the senior vice president now owns 47,097 shares of the company’s stock, valued at approximately $503,937.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Paul Mcnab sold 15,004 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $10.62, for a total value of $159,342.48. Following the completion of the transaction, the executive vice president now directly owns 57,940 shares in the company, valued at approximately $615,322.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin Christopher Siebert sold 13,967 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $10.70, for a total value of $149,446.90. Following the completion of the transaction, the senior vice president now owns 47,097 shares of the company’s stock, valued at $503,937.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,093 shares of company stock valued at $319,841. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Viavi Solutions by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 28,288,576 shares of the communications equipment provider’s stock valued at $258,558,000 after acquiring an additional 424,564 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Viavi Solutions by 399.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,044,366 shares of the communications equipment provider’s stock valued at $10,517,000 after acquiring an additional 835,248 shares during the last quarter. First Eagle Investment Management LLC bought a new position in shares of Viavi Solutions in the 3rd quarter valued at $3,067,000. GSA Capital Partners LLP bought a new position in Viavi Solutions during the 3rd quarter worth $673,000. Finally, Wellington Management Group LLP raised its position in Viavi Solutions by 9.0% during the 3rd quarter. Wellington Management Group LLP now owns 15,925,361 shares of the communications equipment provider’s stock worth $145,558,000 after purchasing an additional 1,321,599 shares during the last quarter. 95.54% of the stock is currently owned by institutional investors.

About Viavi Solutions

(Get Free Report)

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.

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