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

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

VIAV has been the topic of several recent analyst reports. UBS Group cut their target price on Viavi Solutions from $11.50 to $11.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. B. Riley reduced their price objective on Viavi Solutions from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Morgan Stanley lowered their price objective on shares of Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 8th. Rosenblatt Securities reiterated a "buy" rating and set a $13.50 target price on shares of Viavi Solutions in a research report on Friday, June 20th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $15.00 price objective on shares of Viavi Solutions in a research note on Friday, May 2nd.

Insiders Place Their Bets

In other news, Director Richard Belluzzo sold 8,385 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.52% of the company's stock.

Institutional Trading of Viavi Solutions

A number of hedge funds have recently bought and sold shares of the stock. Picton Mahoney Asset Management raised its position in shares of 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 worth $32,000 after acquiring an additional 833 shares in the last quarter. USA Financial Formulas bought a new position in Viavi Solutions in the first quarter worth about $53,000. AlphaQuest LLC purchased a new stake in shares of Viavi Solutions during the first quarter valued at about $55,000. First Horizon Advisors Inc. lifted its position in shares of Viavi Solutions by 29.1% during the first quarter. First Horizon Advisors Inc. now owns 5,046 shares of the communications equipment provider's stock valued at $56,000 after buying an additional 1,138 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in shares of Viavi Solutions by 804.6% in the 4th quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider's stock valued at $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 Stock Up 0.8%

Shares of VIAV traded up $0.08 on Tuesday, reaching $10.00. The stock had a trading volume of 5,074,552 shares, compared to its average volume of 1,950,813. Viavi Solutions has a 12-month low of $6.60 and a 12-month high of $12.91. The company has a 50-day simple moving average of $9.51 and a 200-day simple moving average of $10.37. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 500.25 and a beta of 0.87. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.32 and a current ratio of 1.53.

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.