Northland Securities Reaffirms Outperform Rating for Viavi Solutions (NASDAQ:VIAV)

Viavi Solutions (NASDAQ:VIAV)‘s stock had its “outperform” rating restated by analysts at Northland Securities in a report released on Friday,Benzinga reports. They currently have a $14.00 price target on the communications equipment provider’s stock, up from their prior price target of $13.00. Northland Securities’ target price suggests a potential upside of 40.06% from the stock’s current price.

Several other research analysts also recently commented on VIAV. Rosenblatt Securities raised their target price on Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research note on Friday, November 1st. UBS Group started coverage on shares of Viavi Solutions in a research report on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 price objective for the company. Morgan Stanley reaffirmed an “underweight” rating and set a $9.50 target price (up previously from $8.00) on shares of Viavi Solutions in a report on Tuesday, December 17th. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a report on Monday, December 16th. Finally, Stifel Nicolaus boosted their price target on shares of Viavi Solutions from $10.50 to $12.00 and gave the company a “buy” rating in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Viavi Solutions presently has an average rating of “Hold” and an average price target of $10.59.

Viavi Solutions Stock Up 1.0 %

VIAV opened at $10.00 on Friday. Viavi Solutions has a 12 month low of $6.60 and a 12 month high of $11.49. The company has a market cap of $2.22 billion, a PE ratio of -58.80 and a beta of 0.91. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. The company has a 50 day moving average of $10.26 and a 200 day moving average of $9.22.

Viavi Solutions (NASDAQ:VIAV) last posted its earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $238.20 million for the quarter, compared to the consensus estimate of $240.09 million. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.05 earnings per share. On average, sell-side analysts expect that Viavi Solutions will post 0.18 EPS for the current year.

Insider Activity

In other Viavi Solutions news, SVP Luke M. Scrivanich sold 2,802 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $10.43, for a total transaction of $29,224.86. Following the transaction, the senior vice president now directly owns 54,517 shares in the company, valued at $568,612.31. This trade represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Masood Jabbar sold 30,000 shares of Viavi Solutions stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $10.01, for a total transaction of $300,300.00. Following the transaction, the director now directly owns 180,333 shares in the company, valued at $1,805,133.33. This trade represents a 14.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,802 shares of company stock worth $481,625. 1.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Viavi Solutions

Several institutional investors and hedge funds have recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new stake in Viavi Solutions in the third quarter worth $25,000. Quarry LP lifted its stake in shares of Viavi Solutions by 419.7% in the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock valued at $50,000 after acquiring an additional 5,838 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Viavi Solutions during the 2nd quarter valued at about $76,000. KBC Group NV grew its position in Viavi Solutions by 53.0% during the 3rd quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock worth $85,000 after acquiring an additional 3,252 shares during the last quarter. Finally, Gilbert & Cook Inc. purchased a new position in Viavi Solutions in the 3rd quarter worth approximately $95,000. Institutional investors own 95.54% of the company’s stock.

About Viavi Solutions

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.