Viavi Solutions (NASDAQ:VIAV) Price Target Raised to $12.00 at UBS Group

Key Points

• UBS Group has raised its target price for Viavi Solutions (NASDAQ:VIAV) from $11.00 to $12.00, indicating a potential upside of 9.74% based on the stock's current price.
• Multiple analysts have given positive ratings for Viavi Solutions, with a consensus price target of $13.17, suggesting a generally favorable outlook for the stock.
• Viavi Solutions reported earnings of $0.13 per share, exceeding expectations and showing a 15.3% revenue increase compared to the same quarter last year.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) had its target price lifted by research analysts at UBS Group from $11.00 to $12.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the communications equipment provider's stock. UBS Group's target price suggests a potential upside of 9.30% from the company's previous close.

Other analysts have also recently issued reports about the stock. Susquehanna upgraded shares of Viavi Solutions from a "neutral" rating to a "positive" rating and set a $15.00 price target on the stock in a report on Friday, August 8th. Wall Street Zen upgraded shares of Viavi Solutions from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Needham & Company LLC reiterated a "buy" rating and issued a $15.00 target price on shares of Viavi Solutions in a research note on Friday, May 2nd. B. Riley lifted their target price on shares of Viavi Solutions from $11.00 to $12.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $13.50 target price on shares of Viavi Solutions in a research note on Friday, June 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $13.31.

Viavi Solutions Trading Up 0.2%

Shares of Viavi Solutions stock traded up $0.02 during trading on Friday, hitting $10.98. The stock had a trading volume of 149,463 shares, compared to its average volume of 2,199,763. The stock has a market cap of $2.45 billion, a PE ratio of 68.79 and a beta of 0.87. Viavi Solutions has a 12 month low of $7.63 and a 12 month high of $12.91. The firm's fifty day simple moving average is $9.99 and its 200-day simple moving average is $10.36. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.50 and a quick ratio of 1.30.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The communications equipment provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. The company had revenue of $290.50 million for the quarter, compared to the consensus estimate of $285.19 million. Viavi Solutions had a net margin of 3.21% and a return on equity of 8.02%. The firm's revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.08 EPS. As a group, sell-side analysts expect that Viavi Solutions will post 0.26 EPS for the current fiscal year.

Insider Activity

In related news, Director Richard Belluzzo sold 8,385 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $10.02, for a total value of $84,017.70. Following the completion of the transaction, the director directly owned 242,311 shares in the company, valued at $2,427,956.22. The trade was a 3.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Viavi Solutions

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Viavi Solutions by 1.8% during the first quarter. Vanguard Group Inc. now owns 30,440,070 shares of the communications equipment provider's stock worth $340,624,000 after acquiring an additional 540,045 shares during the period. T. Rowe Price Investment Management Inc. raised its position in Viavi Solutions by 0.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 10,560,567 shares of the communications equipment provider's stock worth $118,173,000 after acquiring an additional 36,172 shares during the period. Dimensional Fund Advisors LP raised its position in Viavi Solutions by 10.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,398,610 shares of the communications equipment provider's stock worth $64,626,000 after acquiring an additional 620,773 shares during the period. Woodline Partners LP raised its position in Viavi Solutions by 27.6% during the first quarter. Woodline Partners LP now owns 4,384,150 shares of the communications equipment provider's stock worth $49,059,000 after acquiring an additional 948,472 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Viavi Solutions by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,358,676 shares of the communications equipment provider's stock worth $37,584,000 after acquiring an additional 23,783 shares during the period. 95.54% of the stock is currently owned by institutional investors and hedge funds.

Viavi Solutions Company Profile

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.