Rosenblatt Securities Reiterates “Buy” Rating for Viavi Solutions (NASDAQ:VIAV)

Viavi Solutions (NASDAQ:VIAV)‘s stock had its “buy” rating restated by analysts at Rosenblatt Securities in a report released on Wednesday,Benzinga reports. They presently have a $70.00 target price on the communications equipment provider’s stock. Rosenblatt Securities’ target price would indicate a potential upside of 69.20% from the company’s current price.

VIAV has been the topic of a number of other reports. Stifel Nicolaus boosted their price target on Viavi Solutions from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Zacks Research upgraded shares of Viavi Solutions from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 13th. Susquehanna lifted their target price on shares of Viavi Solutions from $65.00 to $66.00 and gave the stock a “positive” rating in a report on Wednesday, July 1st. Wall Street Zen raised shares of Viavi Solutions from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Needham & Company LLC reduced their target price on Viavi Solutions from $68.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Viavi Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.88.

Viavi Solutions Trading Down 10.6%

VIAV opened at $41.37 on Wednesday. The company has a quick ratio of 1.62, a current ratio of 1.85 and a debt-to-equity ratio of 0.27. Viavi Solutions has a 52 week low of $10.44 and a 52 week high of $60.43. The stock has a market cap of $9.68 billion, a PE ratio of -275.78 and a beta of 1.22. The business has a 50 day moving average of $43.08 and a 200-day moving average of $40.20.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings data on Wednesday, August 5th. The communications equipment provider reported $0.34 EPS for the quarter, beating the consensus estimate of $0.30 by $0.04. The business had revenue of $443.10 million during the quarter, compared to analyst estimates of $432.62 million. Viavi Solutions had a positive return on equity of 19.60% and a negative net margin of 2.00%.The company’s revenue for the quarter was up 52.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.13 earnings per share. Viavi Solutions has set its Q1 2027 guidance at 0.400-0.420 EPS. Equities research analysts predict that Viavi Solutions will post 1.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Viavi Solutions

In other Viavi Solutions news, EVP Paul Mcnab sold 1,595 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $37.37, for a total value of $59,605.15. Following the completion of the sale, the executive vice president owned 13,876 shares in the company, valued at $518,546.12. This represents a 10.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Laura A. Black sold 71,000 shares of Viavi Solutions stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $46.12, for a total value of $3,274,520.00. Following the transaction, the director directly owned 71,497 shares in the company, valued at approximately $3,297,441.64. The trade was a 49.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Viavi Solutions

Several large investors have recently made changes to their positions in the business. Denver PWM LLC bought a new stake in Viavi Solutions during the 2nd quarter valued at approximately $381,000. Empowered Funds LLC bought a new stake in Viavi Solutions in the 2nd quarter valued at $9,422,000. Jefferies Financial Group Inc. bought a new position in shares of Viavi Solutions during the 2nd quarter valued at about $1,026,000. Public Employees Retirement System of Ohio purchased a new position in shares of Viavi Solutions during the second quarter valued at about $3,491,000. Finally, Ma Investment Partnership LP purchased a new stake in shares of Viavi Solutions in the second quarter worth about $23,875,000. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

About Viavi Solutions

Viavi Solutions Inc is a provider of network test, monitoring and assurance solutions for communications service providers, cable operators, enterprises and government agencies. The company offers an extensive portfolio of fiber optic and copper cable test and measurement instruments, wireless network testing equipment and network performance monitoring software. Its products are designed to support the deployment, maintenance and optimization of high-speed broadband, 5G wireless, data center and enterprise networks.

Viavi’s product offerings are organized into two primary segments: Network & Service Enablement and Optical Security & Performance.