Rosenblatt Securities Forecasts Strong Price Appreciation for Viavi Solutions (NASDAQ:VIAV) Stock

Viavi Solutions (NASDAQ:VIAV) had its target price increased by equities researchers at Rosenblatt Securities from $12.00 to $13.50 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the communications equipment provider’s stock. Rosenblatt Securities’ price objective would indicate a potential upside of 44.54% from the company’s current price.

Several other research analysts have also recently weighed in on VIAV. StockNews.com cut Viavi Solutions from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 18th. Stifel Nicolaus reissued a “buy” rating and set a $13.00 price objective (up previously from $12.00) on shares of Viavi Solutions in a research note on Friday, January 31st. B. Riley raised their target price on Viavi Solutions from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Morgan Stanley lowered their price target on shares of Viavi Solutions from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 8th. Finally, Northland Securities reissued an “outperform” rating and issued a $14.00 price objective (up previously from $13.00) on shares of Viavi Solutions in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.69.

Viavi Solutions Stock Performance

NASDAQ:VIAV opened at $9.34 on Friday. Viavi Solutions has a twelve month low of $6.60 and a twelve month high of $12.91. The company has a market cap of $2.07 billion, a P/E ratio of -51.89 and a beta of 0.92. The company has a current ratio of 3.55, a quick ratio of 3.18 and a debt-to-equity ratio of 0.94. The company’s 50-day moving average price is $10.64 and its 200-day moving average price is $10.53.

Insider Activity at Viavi Solutions

In other news, SVP Luke M. Scrivanich sold 14,323 shares of Viavi Solutions stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $11.24, for a total value 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 approximately $628,057.48. The trade was a 20.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Paul Mcnab sold 9,034 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $11.09, for a total value of $100,187.06. Following the completion of the sale, the executive vice president now owns 38,775 shares in the company, valued at $430,014.75. This represents a 18.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,164 shares of company stock worth $411,122. Company insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On Viavi Solutions

Several institutional investors have recently bought and sold shares of VIAV. Picton Mahoney Asset Management boosted its stake in shares of Viavi Solutions by 35.0% in the fourth 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 during the period. Heritage Family Offices LLP lifted its holdings in Viavi Solutions by 7.5% during the 1st quarter. Heritage Family Offices LLP now owns 14,970 shares of the communications equipment provider’s stock worth $168,000 after buying an additional 1,045 shares in the last quarter. First Horizon Advisors Inc. boosted its position in Viavi Solutions by 29.1% in the 1st quarter. First Horizon Advisors Inc. now owns 5,046 shares of the communications equipment provider’s stock valued at $56,000 after buying an additional 1,138 shares during the period. Sanctuary Advisors LLC grew its stake in shares of Viavi Solutions by 8.1% in the fourth quarter. Sanctuary Advisors LLC now owns 17,226 shares of the communications equipment provider’s stock worth $172,000 after acquiring an additional 1,288 shares in the last quarter. Finally, Xponance Inc. increased its position in shares of Viavi Solutions by 11.5% during the fourth quarter. Xponance Inc. now owns 15,977 shares of the communications equipment provider’s stock worth $161,000 after acquiring an additional 1,649 shares during the period. 95.54% of the stock is owned by institutional investors and hedge funds.

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.