Viavi Solutions (NASDAQ:VIAV) Receives "Buy" Rating from Needham & Company LLC

Viavi Solutions (NASDAQ:VIAV - Get Free Report)'s stock had its "buy" rating restated by research analysts at Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $15.00 price target on the communications equipment provider's stock. Needham & Company LLC's price target points to a potential upside of 66.08% from the company's current price.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus reissued a "buy" rating and set a $13.00 price target (up previously from $12.00) on shares of Viavi Solutions in a research report on Friday, January 31st. B. Riley boosted their price objective on Viavi Solutions from $10.00 to $12.00 and gave the company a "neutral" rating in a report on Friday, January 31st. UBS Group raised their price target on shares of Viavi Solutions from $10.60 to $11.50 and gave the company a "neutral" rating in a research report on Friday, January 31st. Argus upped their price objective on Viavi Solutions from $13.00 to $16.00 and gave the stock a "buy" rating in a research report on Wednesday, February 5th. Finally, Northland Securities reissued an "outperform" rating and set a $14.00 price objective (up from $13.00) on shares of Viavi Solutions in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $12.69.

Viavi Solutions Price Performance

VIAV stock traded up $0.04 during midday trading on Friday, reaching $9.03. The stock had a trading volume of 1,002,873 shares, compared to its average volume of 1,828,848. The company has a market cap of $2.01 billion, a price-to-earnings ratio of -50.05 and a beta of 0.92. Viavi Solutions has a 52-week low of $6.60 and a 52-week high of $12.91. The company's fifty day simple moving average is $10.55 and its 200 day simple moving average is $10.53. The company has a current ratio of 3.55, a quick ratio of 3.18 and a debt-to-equity ratio of 0.94.

Insider Activity at Viavi Solutions

In other Viavi Solutions news, SVP James L. Veler, Jr. sold 13,807 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $10.86, for a total transaction of $149,944.02. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Luke M. Scrivanich sold 14,323 shares of the stock in a transaction dated 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 $628,057.48. This trade represents a 20.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,164 shares of company stock valued at $411,122 over the last ninety days. Insiders own 1.52% of the company's stock.

Institutional Investors Weigh In On Viavi Solutions

Several large investors have recently modified their holdings of VIAV. Wellington Management Group LLP increased its position in Viavi Solutions by 26.3% during the 4th quarter. Wellington Management Group LLP now owns 19,614,684 shares of the communications equipment provider's stock worth $198,108,000 after purchasing an additional 4,085,648 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Viavi Solutions by 1.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,524,395 shares of the communications equipment provider's stock valued at $106,297,000 after purchasing an additional 171,746 shares in the last quarter. Schroder Investment Management Group grew its position in shares of Viavi Solutions by 1.6% in the fourth quarter. Schroder Investment Management Group now owns 7,040,890 shares of the communications equipment provider's stock valued at $70,972,000 after purchasing an additional 112,978 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Viavi Solutions by 10.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,398,610 shares of the communications equipment provider's stock worth $64,626,000 after purchasing an additional 620,773 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Viavi Solutions by 14.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,475,819 shares of the communications equipment provider's stock worth $35,106,000 after purchasing an additional 435,265 shares during the last quarter. Hedge funds and other institutional investors own 95.54% of the company's stock.

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.