Rosenblatt Securities reiterated their buy rating on shares of Viavi Solutions (NASDAQ:VIAV - Free Report) in a research note published on Friday morning,Benzinga reports. They currently have a $13.50 target price on the communications equipment provider's stock.
VIAV has been the topic of several other research reports. UBS Group decreased 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 decreased their target price 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. Morgan Stanley decreased their target price on Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 8th. Wall Street Zen raised Viavi Solutions from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $15.00 price objective on shares of Viavi Solutions in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Viavi Solutions presently has an average rating of "Moderate Buy" and a consensus price target of $12.69.
Read Our Latest Analysis on Viavi Solutions
Viavi Solutions Stock Performance
Shares of VIAV stock traded up $0.22 during trading hours on Friday, reaching $9.62. 1,712,121 shares of the company traded hands, compared to its average volume of 1,937,290. Viavi Solutions has a 12-month low of $6.60 and a 12-month high of $12.91. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.53 and a quick ratio of 1.32. The company has a market cap of $2.15 billion, a P/E ratio of 481.24 and a beta of 0.87. The firm has a 50-day moving average price of $9.51 and a 200 day moving average price of $10.39.
Insiders Place Their Bets
In other news, Director Richard Belluzzo sold 8,385 shares of Viavi Solutions stock in a transaction that occurred 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 transaction, the director now owns 259,081 shares in the company, valued at approximately $2,311,002.52. The trade was a 3.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.52% of the company's stock.
Hedge Funds Weigh In On Viavi Solutions
Several hedge funds have recently bought and sold shares of VIAV. Picton Mahoney Asset Management grew its position 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 acquiring an additional 833 shares during the last quarter. USA Financial Formulas bought a new position in Viavi Solutions in the 1st quarter valued at $53,000. AlphaQuest LLC bought a new position in Viavi Solutions in the 1st quarter valued at $55,000. First Horizon Advisors Inc. grew its position in Viavi Solutions by 29.1% in the 1st quarter. First Horizon Advisors Inc. now owns 5,046 shares of the communications equipment provider's stock valued at $56,000 after acquiring an additional 1,138 shares during the last quarter. Finally, Sterling Capital Management LLC grew its position in 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 acquiring an additional 6,171 shares during the last quarter. Institutional investors own 95.54% of the company's stock.
About Viavi Solutions
(
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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.
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