Viavi Solutions (NASDAQ:VIAV) Price Target Raised to $13.50

Viavi Solutions (NASDAQ:VIAV - Free Report) had its price objective raised by Rosenblatt Securities from $12.00 to $13.50 in a research note released on Friday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the communications equipment provider's stock.

A number of other research analysts have also recently issued reports on VIAV. StockNews.com cut shares of Viavi Solutions from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 18th. Argus raised their target price on shares of Viavi Solutions from $13.00 to $16.00 and gave the stock a "buy" rating in a report on Wednesday, February 5th. Morgan Stanley dropped their price objective on shares of Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Northland Securities reaffirmed an "outperform" rating and issued a $14.00 price objective (up previously from $13.00) on shares of Viavi Solutions in a research note on Friday, January 31st. Finally, Needham & Company LLC reissued a "buy" rating and set a $15.00 price target on shares of Viavi Solutions in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $12.69.

Viavi Solutions Trading Up 0.5 %

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

Insider Buying and Selling at Viavi Solutions

In related news, SVP Luke M. Scrivanich sold 14,323 shares of the company's 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 transaction, the senior vice president now directly owns 55,877 shares of the company's stock, valued at $628,057.48. This represents a 20.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP James L. Veler, Jr. sold 13,807 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $10.86, for a total transaction of $149,944.02. The disclosure for this sale can be found here. Insiders sold 37,164 shares of company stock worth $411,122 over the last 90 days. Company insiders own 1.52% of the company's stock.

Hedge Funds Weigh In On Viavi Solutions

Institutional investors have recently bought and sold shares of the business. Picton Mahoney Asset Management increased its holdings in shares of Viavi Solutions by 35.0% during the 4th quarter. Picton Mahoney Asset Management now owns 3,212 shares of the communications equipment provider's stock valued at $32,000 after purchasing an additional 833 shares in the last quarter. USA Financial Formulas acquired a new position in Viavi Solutions in the 1st quarter worth about $53,000. First Horizon Advisors Inc. boosted its position in 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 worth $56,000 after purchasing an additional 1,138 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Viavi Solutions by 804.6% in the fourth 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. Finally, Venturi Wealth Management LLC acquired a new position in shares of Viavi Solutions during the 4th quarter worth approximately $75,000. 95.54% of the stock is owned by hedge funds and other institutional investors.

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.