Viavi Solutions (NASDAQ:VIAV) Given New $10.00 Price Target at Rosenblatt Securities

Viavi Solutions (NASDAQ:VIAV) had its price objective reduced by Rosenblatt Securities from $13.00 to $10.00 in a research note released on Friday, Benzinga reports. They currently have a buy rating on the communications equipment provider’s stock.

Other analysts have also recently issued reports about the company. Morgan Stanley boosted their price objective on Viavi Solutions from $9.00 to $11.00 and gave the company an equal weight rating in a research report on Wednesday, March 6th. Needham & Company LLC restated a hold rating on shares of Viavi Solutions in a research note on Friday. Stifel Nicolaus reaffirmed a buy rating and set a $13.00 price objective on shares of Viavi Solutions in a report on Monday, April 1st. Northland Securities upped their target price on shares of Viavi Solutions from $12.00 to $17.00 and gave the company an outperform rating in a research note on Wednesday, March 6th. Finally, Susquehanna raised their price target on shares of Viavi Solutions from $12.00 to $14.00 and gave the stock a positive rating in a research note on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Viavi Solutions presently has a consensus rating of Moderate Buy and a consensus target price of $12.00.

Viavi Solutions Stock Down 2.6 %

NASDAQ VIAV opened at $7.37 on Friday. The company has a current ratio of 3.81, a quick ratio of 3.35 and a debt-to-equity ratio of 0.90. Viavi Solutions has a 12-month low of $7.10 and a 12-month high of $11.65. The company has a 50 day moving average price of $9.07 and a two-hundred day moving average price of $9.05.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings results on Thursday, May 2nd. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Viavi Solutions had a negative net margin of 0.42% and a positive return on equity of 4.65%. The firm had revenue of $246.00 million for the quarter, compared to the consensus estimate of $249.08 million. During the same quarter last year, the company earned $0.02 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. Research analysts predict that Viavi Solutions will post 0.22 EPS for the current year.

Insider Transactions at Viavi Solutions

In other Viavi Solutions news, SVP Kevin Christopher Siebert sold 13,967 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $10.70, for a total transaction of $149,446.90. Following the sale, the senior vice president now directly owns 47,097 shares of the company’s stock, valued at approximately $503,937.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Kevin Christopher Siebert sold 13,967 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $10.70, for a total value of $149,446.90. Following the completion of the transaction, the senior vice president now directly owns 47,097 shares of the company’s stock, valued at $503,937.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Paul Mcnab sold 15,004 shares of Viavi Solutions stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $10.62, for a total transaction of $159,342.48. Following the completion of the transaction, the executive vice president now directly owns 57,940 shares of the company’s stock, valued at approximately $615,322.80. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Viavi Solutions

A number of large investors have recently made changes to their positions in the company. Park Avenue Securities LLC bought a new stake in shares of Viavi Solutions during the 1st quarter valued at $99,000. Coldstream Capital Management Inc. raised its stake in Viavi Solutions by 13.4% in the third quarter. Coldstream Capital Management Inc. now owns 11,922 shares of the communications equipment provider’s stock valued at $109,000 after purchasing an additional 1,411 shares in the last quarter. Versor Investments LP bought a new stake in Viavi Solutions during the fourth quarter worth about $110,000. Quadrant Capital Group LLC grew its stake in Viavi Solutions by 49.0% during the fourth quarter. Quadrant Capital Group LLC now owns 12,019 shares of the communications equipment provider’s stock worth $121,000 after buying an additional 3,952 shares in the last quarter. Finally, Heritage Wealth Management LLC bought a new position in Viavi Solutions in the 4th quarter valued at about $150,000. Institutional investors own 95.54% of the company’s stock.

Viavi Solutions Company Profile

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.