Viavi Solutions Inc. (NASDAQ:VIAV) Stock Has Average Price Target of $59.67

Viavi Solutions Inc. (NASDAQ:VIAV) has received a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $57.83.

VIAV has been the subject of a number of research analyst reports. Zacks Research lowered shares of Viavi Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. Weiss Ratings upgraded shares of Viavi Solutions from a “sell (d)” rating to a “hold (c)” rating in a report on Monday. Rosenblatt Securities reiterated a “buy” rating and set a $70.00 price objective on shares of Viavi Solutions in a research note on Wednesday, September 23rd. Needham & Company LLC dropped their target price on Viavi Solutions from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, November 5th. Finally, Wall Street Zen upgraded Viavi Solutions from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 7th.

Viavi Solutions Stock Down 1.4%

VIAV opened at $32.54 on Friday. The stock’s 50 day moving average price is $36.40 and its 200 day moving average price is $38.89. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.65 and a quick ratio of 1.40. The stock has a market cap of $8.00 billion, a P/E ratio of 135.59, a P/E/G ratio of 1.94 and a beta of 1.31. Viavi Solutions has a 12 month low of $15.51 and a 12 month high of $60.43.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings data on Wednesday, November 4th. The communications equipment provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06. The business had revenue of $469.30 million during the quarter, compared to the consensus estimate of $455.06 million. Viavi Solutions had a net margin of 3.97% and a return on equity of 25.36%. The company’s quarterly revenue was up 56.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.15 earnings per share. As a group, research analysts predict that Viavi Solutions will post 1.42 earnings per share for the current year.

Insider Buying and Selling at Viavi Solutions

In other Viavi Solutions news, Director Laura Black sold 71,000 shares of the company’s 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 completion of the sale, the director directly owned 71,497 shares of the company’s stock, valued at approximately $3,297,441.64. This represents a 49.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Paul McNab sold 11,032 shares of the company’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $38.97, for a total transaction of $429,917.04. Following the completion of the sale, the executive vice president directly owned 25,639 shares of the company’s stock, valued at $999,151.83. The trade was a 30.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 198,099 shares of company stock valued at $7,916,628 in the last ninety days. 1.20% of the stock is owned by insiders.

Institutional Trading of Viavi Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in VIAV. BlackRock Inc. acquired a new position in Viavi Solutions in the second quarter worth approximately $1,228,529,000. Assenagon Asset Management S.A. lifted its position in shares of Viavi Solutions by 1,402.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 5,639,752 shares of the communications equipment provider’s stock valued at $236,418,000 after acquiring an additional 5,264,496 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Viavi Solutions during the 2nd quarter valued at $134,922,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Viavi Solutions during the 1st quarter worth $75,294,000. Finally, Bowen Hanes & Co. Inc. boosted its stake in shares of Viavi Solutions by 7.0% during the 1st quarter. Bowen Hanes & Co. Inc. now owns 2,000,000 shares of the communications equipment provider’s stock worth $66,560,000 after acquiring an additional 130,000 shares in the last quarter. 95.54% of the stock is owned by institutional investors and hedge funds.

Viavi Solutions Company Profile

Viavi Solutions Inc. develops testing, monitoring and assurance solutions for communications networks. Its products and software help service providers, equipment makers and enterprises build, maintain and troubleshoot fiber-optic, broadband, wireless and other network infrastructure, including technologies used in 5G and data centers. The company also makes optical technologies and security products, including features used to authenticate banknotes, identity documents and branded goods. These offerings support applications in areas such as anti-counterfeiting, document security and optical coatings.