Viavi Solutions (NASDAQ:VIAV) Given New $13.00 Price Target at Northland Securities

Viavi Solutions (NASDAQ:VIAV) had its price objective lifted by Northland Securities from $11.00 to $13.00 in a report released on Friday, Benzinga reports. The firm presently has an “outperform” rating on the communications equipment provider’s stock. Northland Securities’ price target would suggest a potential upside of 31.98% from the company’s previous close.

VIAV has been the subject of a number of other research reports. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a report on Friday. Stifel Nicolaus reduced their price objective on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research report on Tuesday, August 6th. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Rosenblatt Securities raised their target price on shares of Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research note on Friday. Finally, B. Riley cut their price objective on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a research report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Viavi Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $10.42.

Viavi Solutions Stock Up 6.8 %

Shares of VIAV stock traded up $0.63 on Friday, hitting $9.85. The company’s stock had a trading volume of 2,459,881 shares, compared to its average volume of 1,773,444. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -57.65 and a beta of 0.91. The firm’s fifty day moving average price is $8.76 and its 200-day moving average price is $7.99. Viavi Solutions has a fifty-two week low of $6.60 and a fifty-two week high of $11.32. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.55 and a quick ratio of 3.16.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. The business had revenue of $238.20 million for the quarter, compared to analysts’ expectations of $240.09 million. Viavi Solutions had a positive return on equity of 3.81% and a negative net margin of 2.58%. Viavi Solutions’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 earnings per share. Research analysts anticipate that Viavi Solutions will post 0.17 EPS for the current year.

Insider Activity

In related news, EVP Paul Mcnab sold 7,324 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $7.52, for a total value of $55,076.48. Following the completion of the transaction, the executive vice president now directly owns 35,631 shares of the company’s stock, valued at approximately $267,945.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Kevin Christopher Siebert sold 8,432 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $8.63, for a total transaction of $72,768.16. Following the completion of the transaction, the senior vice president now directly owns 56,617 shares in the company, valued at $488,604.71. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paul Mcnab sold 7,324 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $7.52, for a total value of $55,076.48. Following the completion of the sale, the executive vice president now directly owns 35,631 shares in the company, valued at approximately $267,945.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 85,976 shares of company stock valued at $720,562 in the last ninety days. 1.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Viavi Solutions

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Viavi Solutions by 1.4% in the first quarter. Vanguard Group Inc. now owns 29,148,414 shares of the communications equipment provider’s stock worth $264,959,000 after buying an additional 408,484 shares during the period. Capital World Investors increased its stake in Viavi Solutions by 305.4% in the 1st quarter. Capital World Investors now owns 12,161,535 shares of the communications equipment provider’s stock worth $110,548,000 after purchasing an additional 9,161,535 shares during the period. Westwood Holdings Group Inc. lifted its position in Viavi Solutions by 9.2% in the second quarter. Westwood Holdings Group Inc. now owns 7,203,703 shares of the communications equipment provider’s stock valued at $49,489,000 after purchasing an additional 606,522 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Viavi Solutions by 12.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,818,337 shares of the communications equipment provider’s stock valued at $39,972,000 after purchasing an additional 661,450 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Viavi Solutions by 65.2% in the second quarter. Bank of New York Mellon Corp now owns 3,290,197 shares of the communications equipment provider’s stock worth $22,604,000 after purchasing an additional 1,298,394 shares during the last quarter. 95.54% of the stock is currently owned by institutional investors.

About Viavi Solutions

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.