Viavi Solutions (NASDAQ:VIAV) Price Target Raised to $12.00 at B. Riley

Key Points

• Viavi Solutions' price target has been increased from $11.00 to $12.00 by B. Riley, indicating a potential upside of 7.74% from the stock's previous close.
• Several analysts have varied ratings on Viavi Solutions, with a consensus rating of "Moderate Buy" and a target price of $13.06.
• The company reported a quarterly EPS of $0.13, exceeding expectations and showing a revenue increase of 15.3% compared to the same quarter last year.

Viavi Solutions (NASDAQ:VIAV - Free Report) had its price target hoisted by B. Riley from $11.00 to $12.00 in a report released on Friday morning,Benzinga reports. B. Riley currently has a neutral rating on the communications equipment provider's stock.

Other research analysts have also recently issued research reports about the company. Rosenblatt Securities restated a "buy" rating and set a $13.50 price objective on shares of Viavi Solutions in a research note on Friday, June 20th. Needham & Company LLC restated a "buy" rating and set a $15.00 price objective on shares of Viavi Solutions in a research note on Friday, May 2nd. Susquehanna upgraded Viavi Solutions from a "neutral" rating to a "positive" rating and set a $15.00 price objective on the stock in a research note on Friday. Wall Street Zen upgraded Viavi Solutions from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, UBS Group dropped their target price on Viavi Solutions from $11.50 to $11.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $13.17.

Viavi Solutions Trading Up 7.6%

Shares of Viavi Solutions stock traded up $0.77 during trading hours on Friday, reaching $10.93. The stock had a trading volume of 10,212,271 shares, compared to its average volume of 1,680,294. The firm has a 50 day simple moving average of $9.92 and a two-hundred day simple moving average of $10.36. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 68.32 and a beta of 0.87. The company has a current ratio of 1.53, a quick ratio of 1.32 and a debt-to-equity ratio of 0.54. Viavi Solutions has a 1 year low of $7.05 and a 1 year high of $12.91.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The communications equipment provider reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. The company had revenue of $290.50 million for the quarter, compared to analysts' expectations of $285.19 million. Viavi Solutions had a return on equity of 8.24% and a net margin of 3.21%. The firm's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 earnings per share. As a group, equities research analysts anticipate that Viavi Solutions will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Richard Belluzzo sold 8,385 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $10.02, for a total value of $84,017.70. Following the completion of the sale, the director directly owned 242,311 shares of the company's stock, valued at $2,427,956.22. The trade was a 3.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.52% of the stock is currently owned by corporate insiders.

Institutional Trading of Viavi Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of VIAV. Family Legacy Financial Solutions LLC bought a new position in shares of Viavi Solutions during the second quarter valued at approximately $43,000. USA Financial Formulas bought a new position in shares of Viavi Solutions during the first quarter valued at approximately $53,000. AlphaQuest LLC bought a new position in shares of Viavi Solutions during the first quarter valued at approximately $55,000. First Horizon Advisors Inc. grew its holdings 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 purchasing an additional 1,138 shares during the last quarter. Finally, Sterling Capital Management LLC grew its holdings in shares of Viavi Solutions by 804.6% during the fourth quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider's stock valued at $70,000 after purchasing an additional 6,171 shares during the last quarter. 95.54% of the stock is owned by institutional investors.

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.