Analysts Set Viavi Solutions Inc. (NASDAQ:VIAV) Target Price at $12.69

Shares of Viavi Solutions Inc. (NASDAQ:VIAV - Get Free Report) have received a consensus rating of "Moderate Buy" from the eight brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $12.69.

VIAV has been the topic of a number of recent research reports. B. Riley cut their price target on Viavi Solutions from $12.00 to $11.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Northland Securities restated an "outperform" rating and set a $14.00 price target (up from $13.00) on shares of Viavi Solutions in a report on Friday, January 31st. Stifel Nicolaus restated a "buy" rating and set a $13.00 price target (up from $12.00) on shares of Viavi Solutions in a report on Friday, January 31st. Rosenblatt Securities boosted their price target on Viavi Solutions from $12.00 to $13.50 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded Viavi Solutions from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th.

Insider Activity at Viavi Solutions

In related news, Director Richard Belluzzo sold 8,385 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $8.92, for a total value of $74,794.20. Following the completion of the sale, the director now directly owns 259,081 shares of the company's stock, valued at approximately $2,311,002.52. This represents a 3.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Luke M. Scrivanich sold 14,323 shares of the firm's stock in a transaction that occurred 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 sale, the senior vice president now owns 55,877 shares of the company's stock, valued at approximately $628,057.48. The trade was a 20.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 45,549 shares of company stock valued at $485,916. 1.52% of the stock is owned by insiders.

Institutional Trading of Viavi Solutions

A number of institutional investors have recently added to or reduced their stakes in VIAV. Picton Mahoney Asset Management boosted its holdings in Viavi Solutions by 35.0% in the 4th quarter. Picton Mahoney Asset Management now owns 3,212 shares of the communications equipment provider's stock valued at $32,000 after purchasing an additional 833 shares during the period. USA Financial Formulas purchased a new position in shares of Viavi Solutions during the 1st quarter valued at $53,000. AlphaQuest LLC purchased a new stake in shares of Viavi Solutions in the first quarter worth $55,000. First Horizon Advisors Inc. raised its position in shares of Viavi Solutions by 29.1% in the first quarter. First Horizon Advisors Inc. now owns 5,046 shares of the communications equipment provider's stock worth $56,000 after buying an additional 1,138 shares in the last quarter. Finally, Sterling Capital Management LLC raised its position in shares of Viavi Solutions by 804.6% in the fourth quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider's stock worth $70,000 after buying an additional 6,171 shares in the last quarter. Hedge funds and other institutional investors own 95.54% of the company's stock.

Viavi Solutions Price Performance

Shares of NASDAQ VIAV traded down $0.13 during mid-day trading on Friday, hitting $9.03. 2,454,076 shares of the stock traded hands, compared to its average volume of 1,893,856. The company has a market cap of $2.02 billion, a PE ratio of -50.16 and a beta of 0.92. Viavi Solutions has a twelve month low of $6.60 and a twelve month high of $12.91. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.55 and a quick ratio of 3.18. The firm has a 50 day simple moving average of $9.87 and a two-hundred day simple moving average of $10.46.

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.