B. Riley Lowers Viavi Solutions (NASDAQ:VIAV) Price Target to $11.00

Viavi Solutions (NASDAQ:VIAV) had its price objective reduced by B. Riley from $12.00 to $11.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the communications equipment provider’s stock. B. Riley’s target price would indicate a potential upside of 17.77% from the company’s previous close.

A number of other research firms have also issued reports on VIAV. StockNews.com lowered Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 18th. Stifel Nicolaus reissued a “buy” rating and set a $13.00 price target (up previously from $12.00) on shares of Viavi Solutions in a report on Friday, January 31st. 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. Rosenblatt Securities boosted their target price on shares of Viavi Solutions from $12.00 to $13.50 and gave the company a “buy” rating in a research note on Friday. Finally, Argus raised their price target on shares of Viavi Solutions from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.69.

Viavi Solutions Stock Performance

Shares of NASDAQ VIAV opened at $9.34 on Friday. The stock has a market capitalization of $2.07 billion, a P/E ratio of -51.89 and a beta of 0.92. The firm’s 50-day moving average price is $10.64 and its two-hundred day moving average price is $10.53. Viavi Solutions has a 52-week low of $6.60 and a 52-week 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

In related news, EVP Paul Mcnab sold 9,034 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $11.09, for a total transaction of $100,187.06. Following the transaction, the executive vice president now owns 38,775 shares in the company, valued at $430,014.75. This trade represents a 18.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Luke M. Scrivanich sold 14,323 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $11.24, for a total transaction of $160,990.52. Following the completion of the sale, the senior vice president now directly owns 55,877 shares of the company’s stock, valued at $628,057.48. The trade was a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,164 shares of company stock valued at $411,122 over the last 90 days. 1.52% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viavi Solutions

A number of institutional investors have recently bought and sold shares of VIAV. Charles Schwab Investment Management Inc. lifted its stake in shares of Viavi Solutions by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,334,893 shares of the communications equipment provider’s stock valued at $33,682,000 after purchasing an additional 139,934 shares during the last quarter. Amundi boosted its stake in shares of Viavi Solutions by 185.5% during the 4th quarter. Amundi now owns 111,730 shares of the communications equipment provider’s stock worth $1,132,000 after acquiring an additional 72,599 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Viavi Solutions by 836.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider’s stock valued at $84,000 after acquiring an additional 7,434 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Viavi Solutions by 5.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 43,732 shares of the communications equipment provider’s stock valued at $442,000 after acquiring an additional 2,277 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Viavi Solutions by 2.8% in the 4th quarter. Principal Financial Group Inc. now owns 1,075,675 shares of the communications equipment provider’s stock worth $10,864,000 after purchasing an additional 29,621 shares during the last quarter. 95.54% of the stock is currently owned by institutional investors and hedge funds.

About Viavi Solutions

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.