Viavi Solutions (NASDAQ:VIAV) Stock Rating Upgraded by Susquehanna

Key Points

• Viavi Solutions has been upgraded from a "neutral" to a "positive" rating by Susquehanna, with a price target of $15.00, suggesting a potential upside of 47.64% from the current stock price.
• Other brokerages have mixed views, with B. Riley and UBS both cutting their target prices to $11.00, while Needham & Company and Rosenblatt Securities maintained their "buy" ratings.
• Viavi Solutions recently reported quarterly earnings of $0.13 per share, exceeding expectations, and showing a revenue increase of 15.3% year-over-year.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) was upgraded by Susquehanna from a "neutral" rating to a "positive" rating in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm presently has a $15.00 target price on the communications equipment provider's stock. Susquehanna's target price would indicate a potential upside of 37.24% from the stock's previous close.

Several other analysts also recently commented on VIAV. Needham & Company LLC reaffirmed a "buy" rating and set a $15.00 price objective on shares of Viavi Solutions in a research note on Friday, May 2nd. Wall Street Zen raised Viavi Solutions from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Rosenblatt Securities reiterated a "buy" rating and issued a $13.50 price objective on shares of Viavi Solutions in a research report on Friday, June 20th. B. Riley cut their price objective on shares of Viavi Solutions from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Finally, UBS Group lowered their target price on shares of Viavi Solutions from $11.50 to $11.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.17.

Viavi Solutions Stock Up 7.6%

Shares of NASDAQ VIAV traded up $0.77 during midday trading on Friday, hitting $10.93. 10,212,271 shares of the company's stock were exchanged, compared to its average volume of 1,680,294. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.53 and a quick ratio of 1.32. Viavi Solutions has a twelve month low of $7.05 and a twelve month high of $12.91. The company has a market cap of $2.44 billion, a PE ratio of 68.32 and a beta of 0.87. The firm's fifty day simple moving average is $9.92 and its 200-day simple moving average is $10.36.

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

Insider Activity at Viavi Solutions

In related news, Director Richard Belluzzo sold 8,385 shares of the firm's stock in a transaction that occurred on 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 transaction, the director directly owned 242,311 shares of the company's stock, valued at $2,427,956.22. This trade represents a 3.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in VIAV. Vanguard Group Inc. increased its position in Viavi Solutions by 1.8% during the first quarter. Vanguard Group Inc. now owns 30,440,070 shares of the communications equipment provider's stock worth $340,624,000 after buying an additional 540,045 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in Viavi Solutions by 0.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 10,560,567 shares of the communications equipment provider's stock worth $118,173,000 after purchasing an additional 36,172 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Viavi Solutions by 10.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,398,610 shares of the communications equipment provider's stock valued at $64,626,000 after purchasing an additional 620,773 shares during the last quarter. Woodline Partners LP raised its stake in Viavi Solutions by 27.6% in the 1st quarter. Woodline Partners LP now owns 4,384,150 shares of the communications equipment provider's stock valued at $49,059,000 after purchasing an additional 948,472 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Viavi Solutions by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,358,676 shares of the communications equipment provider's stock valued at $37,584,000 after purchasing an additional 23,783 shares in 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.