Viavi Solutions (NASDAQ:VIAV) Given New $12.00 Price Target at Rosenblatt Securities

Viavi Solutions (NASDAQ:VIAV - Free Report) had its target price decreased by Rosenblatt Securities from $14.00 to $12.00 in a research note released on Tuesday,Benzinga reports. Rosenblatt Securities currently has a buy rating on the communications equipment provider's stock.

VIAV has been the subject of a number of other research reports. UBS Group lifted their price objective on shares of Viavi Solutions from $10.60 to $11.50 and gave the company a "neutral" rating in a report on Friday, January 31st. Stifel Nicolaus reaffirmed a "buy" rating and set a $13.00 price target (up previously from $12.00) on shares of Viavi Solutions in a research note on Friday, January 31st. StockNews.com cut Viavi Solutions from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 18th. Morgan Stanley reduced their price objective on Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Finally, Needham & Company LLC upgraded Viavi Solutions from a "hold" rating to a "buy" rating and set a $15.00 target price for the company in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $12.28.

Viavi Solutions Trading Up 2.0 %

VIAV stock traded up $0.21 during midday trading on Tuesday, reaching $10.51. The company's stock had a trading volume of 1,820,566 shares, compared to its average volume of 1,771,768. Viavi Solutions has a 1 year low of $6.60 and a 1 year high of $12.91. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -58.39 and a beta of 0.89. The stock has a fifty day simple moving average of $10.77 and a two-hundred day simple moving average of $10.49. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.18 and a current ratio of 3.55.

Insider Transactions at Viavi Solutions

In other news, SVP Luke M. Scrivanich sold 14,323 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $11.24, for a total transaction of $160,990.52. Following the transaction, the senior vice president now directly owns 55,877 shares of the company's stock, valued at approximately $628,057.48. This represents a 20.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP James L. Veler, Jr. sold 13,807 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $10.86, for a total value of $149,944.02. The disclosure for this sale can be found here. In the last three months, insiders sold 37,164 shares of company stock valued at $411,122. Corporate insiders own 1.52% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Picton Mahoney Asset Management grew its stake in shares of Viavi Solutions by 35.0% during the fourth quarter. Picton Mahoney Asset Management now owns 3,212 shares of the communications equipment provider's stock worth $32,000 after acquiring an additional 833 shares during the last quarter. Heritage Family Offices LLP boosted its stake in Viavi Solutions by 7.5% in the 1st quarter. Heritage Family Offices LLP now owns 14,970 shares of the communications equipment provider's stock worth $168,000 after purchasing an additional 1,045 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in Viavi Solutions by 8.1% in the 4th quarter. Sanctuary Advisors LLC now owns 17,226 shares of the communications equipment provider's stock worth $172,000 after purchasing an additional 1,288 shares in the last quarter. Xponance Inc. increased its position in shares of Viavi Solutions by 11.5% in the 4th quarter. Xponance Inc. now owns 15,977 shares of the communications equipment provider's stock valued at $161,000 after acquiring an additional 1,649 shares during the period. Finally, Park Avenue Securities LLC increased its position in shares of Viavi Solutions by 15.4% in the 4th quarter. Park Avenue Securities LLC now owns 13,442 shares of the communications equipment provider's stock valued at $136,000 after acquiring an additional 1,792 shares during the period. 95.54% of the stock is owned by institutional investors and hedge funds.

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.