Viavi Solutions (NASDAQ:VIAV) Price Target Lowered to $10.00 at Rosenblatt Securities

Viavi Solutions (NASDAQ:VIAV) had its price objective trimmed by Rosenblatt Securities from $13.00 to $10.00 in a report published on Friday morning, Benzinga reports. The firm currently has a buy rating on the communications equipment provider’s stock.

VIAV has been the subject of several other reports. Morgan Stanley raised their target price on shares of Viavi Solutions from $9.00 to $11.00 and gave the company an equal weight rating in a research note on Wednesday, March 6th. StockNews.com upgraded Viavi Solutions from a hold rating to a buy rating in a research report on Friday, April 12th. Northland Securities raised their price target on Viavi Solutions from $12.00 to $17.00 and gave the company an outperform rating in a report on Wednesday, March 6th. Needham & Company LLC reaffirmed a hold rating on shares of Viavi Solutions in a report on Friday. Finally, Stifel Nicolaus reissued a buy rating and issued a $13.00 target price on shares of Viavi Solutions in a report on Monday, April 1st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $12.00.

Viavi Solutions Price Performance

Shares of VIAV stock traded down $0.46 on Friday, hitting $7.56. 4,038,279 shares of the stock traded hands, compared to its average volume of 1,411,188. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.09 and a quick ratio of 2.72. The firm has a 50 day simple moving average of $9.11 and a two-hundred day simple moving average of $9.03. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 378.00 and a beta of 0.97. Viavi Solutions has a 52 week low of $7.10 and a 52 week high of $11.65.

Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Thursday, May 2nd. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). Viavi Solutions had a positive return on equity of 4.66% and a negative net margin of 0.42%. The business had revenue of $246.00 million for the quarter, compared to analysts’ expectations of $249.08 million. During the same quarter in the prior year, the business posted $0.02 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities research analysts predict that Viavi Solutions will post 0.22 earnings per share for the current fiscal year.

Insider Activity at Viavi Solutions

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

Institutional Trading of Viavi Solutions

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Viavi Solutions by 1.5% during 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 buying an additional 424,564 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Viavi Solutions by 399.4% in the fourth 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 purchasing an additional 835,248 shares during the period. Knights of Columbus Asset Advisors LLC grew its stake in Viavi Solutions by 102.9% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 346,475 shares of the communications equipment provider’s stock worth $3,489,000 after purchasing an additional 175,695 shares in the last quarter. First Eagle Investment Management LLC purchased a new position in Viavi Solutions during the 3rd quarter worth $3,067,000. Finally, GSA Capital Partners LLP bought a new stake in Viavi Solutions during the 3rd quarter valued at $673,000. 95.54% of the stock is owned by hedge funds and other 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.