Viavi Solutions (NASDAQ:VIAV) Receives “Buy” Rating from Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Viavi Solutions (NASDAQ:VIAV) in a research report released on Friday,Benzinga reports. The brokerage currently has a $13.50 price objective on the communications equipment provider’s stock.

Several other analysts have also recently issued reports on VIAV. UBS Group lowered their target price on shares of Viavi Solutions from $11.50 to $11.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Morgan Stanley lowered their price objective on Viavi Solutions from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 8th. B. Riley dropped their price objective on Viavi Solutions from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Wall Street Zen raised Viavi Solutions from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $15.00 price target on shares of Viavi Solutions in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.69.

Viavi Solutions Trading Up 0.6%

Shares of Viavi Solutions stock opened at $9.40 on Friday. The company’s 50-day moving average price is $9.52 and its 200-day moving average price is $10.39. The company has a current ratio of 1.53, a quick ratio of 1.32 and a debt-to-equity ratio of 0.54. Viavi Solutions has a 12-month low of $6.60 and a 12-month high of $12.91. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 470.24 and a beta of 0.87.

Insiders Place Their Bets

In other Viavi Solutions news, Director Richard Belluzzo sold 8,385 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $8.92, for a total transaction of $74,794.20. Following the transaction, the director now directly owns 259,081 shares in the company, valued at $2,311,002.52. This trade represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On Viavi Solutions

A number of hedge funds have recently made changes to their positions in VIAV. Principal Financial Group Inc. boosted its position in Viavi Solutions by 2.8% during the fourth quarter. Principal Financial Group Inc. now owns 1,075,675 shares of the communications equipment provider’s stock valued at $10,864,000 after buying an additional 29,621 shares during the period. Sanctuary Advisors LLC lifted its stake in shares of Viavi Solutions by 8.1% in the 4th quarter. Sanctuary Advisors LLC now owns 17,226 shares of the communications equipment provider’s stock valued at $172,000 after acquiring an additional 1,288 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in Viavi Solutions during the 4th quarter valued at about $75,000. Handelsbanken Fonder AB boosted its holdings in Viavi Solutions by 13.1% during the 4th quarter. Handelsbanken Fonder AB now owns 66,610 shares of the communications equipment provider’s stock valued at $673,000 after acquiring an additional 7,700 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Viavi Solutions by 14.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,475,819 shares of the communications equipment provider’s stock worth $35,106,000 after acquiring an additional 435,265 shares during the last quarter. 95.54% of the stock is currently owned by institutional investors.

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.