Viavi Solutions (NASDAQ:VIAV) Price Target Cut to $10.00 by Analysts at Rosenblatt Securities

Viavi Solutions (NASDAQ:VIAV - Get Free Report) had its price target reduced by equities research analysts at Rosenblatt Securities from $13.00 to $10.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the communications equipment provider's stock. Rosenblatt Securities' price objective indicates a potential upside of 32.28% from the stock's previous close.

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

Viavi Solutions Stock Down 5.7 %

VIAV stock traded down $0.46 during trading on Friday, reaching $7.56. 4,038,127 shares of the stock were exchanged, compared to its average volume of 2,084,735. The firm's 50 day moving average is $9.16 and its 200 day moving average is $9.04. Viavi Solutions has a twelve month low of $7.10 and a twelve month high of $11.65. The company has a current ratio of 3.09, a quick ratio of 2.72 and a debt-to-equity ratio of 0.87. The firm has a market cap of $1.68 billion, a P/E ratio of 373.00 and a beta of 0.97.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). The company had revenue of $246.00 million for the quarter, compared to the consensus estimate of $249.08 million. Viavi Solutions had a return on equity of 5.38% and a net margin of 0.49%. The business's revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.02 earnings per share. As a group, research analysts forecast that Viavi Solutions will post 0.22 EPS for the current year.

Insider Activity at Viavi Solutions

In related news, SVP Kevin Christopher Siebert sold 13,967 shares of the company's stock in a transaction that occurred 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 transaction, the senior vice president now owns 47,097 shares in the company, valued at $503,937.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Viavi Solutions 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 transaction of $159,342.48. Following the sale, the executive vice president now owns 57,940 shares in the company, valued at $615,322.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kevin Christopher Siebert sold 13,967 shares of the 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 in the company, valued at approximately $503,937.90. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Viavi Solutions

Institutional investors and hedge funds have recently made changes to their positions in the business. Park Avenue Securities LLC bought a new position in Viavi Solutions in the first quarter valued at $99,000. Coldstream Capital Management Inc. increased its stake in Viavi Solutions by 13.4% in the third quarter. Coldstream Capital Management Inc. now owns 11,922 shares of the communications equipment provider's stock valued at $109,000 after acquiring an additional 1,411 shares during the last quarter. Versor Investments LP bought a new position in Viavi Solutions in the fourth quarter valued at $110,000. Quadrant Capital Group LLC increased its stake in Viavi Solutions by 49.0% in the fourth quarter. Quadrant Capital Group LLC now owns 12,019 shares of the communications equipment provider's stock valued at $121,000 after acquiring an additional 3,952 shares during the last quarter. Finally, Heritage Wealth Management LLC bought a new position in Viavi Solutions in the fourth quarter valued at $150,000. Hedge funds and other institutional investors own 95.54% of the company's stock.

About Viavi Solutions

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.