Rosenblatt Securities Trims Viavi Solutions (NASDAQ:VIAV) Target Price to $10.00

Viavi Solutions (NASDAQ:VIAV) had its price target trimmed by Rosenblatt Securities from $13.00 to $10.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a buy rating on the communications equipment provider’s stock.

A number of other analysts also recently weighed in on the stock. Morgan Stanley boosted their target price on shares of Viavi Solutions from $9.00 to $11.00 and gave the stock an equal weight rating in a report on Wednesday, March 6th. StockNews.com raised Viavi Solutions from a hold rating to a buy rating in a research note on Friday, April 12th. Needham & Company LLC restated a hold rating on shares of Viavi Solutions in a report on Friday. Northland Securities increased their price objective on shares of Viavi Solutions from $12.00 to $17.00 and gave the company an outperform rating in a research note on Wednesday, March 6th. Finally, Susquehanna upped their target price on Viavi Solutions from $12.00 to $14.00 and gave the stock a positive rating in a report on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $12.00.

Viavi Solutions Stock Performance

NASDAQ VIAV opened at $7.56 on Friday. The business has a 50-day moving average price of $9.11 and a 200-day moving average price of $9.05. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -378.00 and a beta of 0.97. Viavi Solutions has a twelve month low of $7.10 and a twelve month high of $11.65. The company has a quick ratio of 2.72, a current ratio of 3.09 and a debt-to-equity ratio of 0.87.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The company had revenue of $246.00 million for the quarter, compared to analysts’ expectations of $249.08 million. Viavi Solutions had a negative net margin of 0.42% and a positive return on equity of 4.66%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the business earned $0.02 earnings per share. As a group, equities research analysts predict that Viavi Solutions will post 0.22 EPS for the current fiscal year.

Insider Activity

In other Viavi Solutions news, SVP Kevin Christopher Siebert sold 13,967 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $10.70, for a total transaction of $149,446.90. Following the sale, the senior vice president now owns 47,097 shares of the company’s stock, valued at approximately $503,937.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Kevin Christopher Siebert sold 13,967 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $10.70, for a total value of $149,446.90. Following the transaction, the senior vice president now directly owns 47,097 shares of the company’s stock, valued at approximately $503,937.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Paul Mcnab sold 15,004 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $10.62, for a total value of $159,342.48. Following the completion of the transaction, the executive vice president now owns 57,940 shares of the company’s stock, valued at $615,322.80. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Viavi Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VIAV. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Viavi Solutions by 11.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,000 shares of the communications equipment provider’s stock valued at $594,000 after purchasing an additional 6,560 shares in the last quarter. Thompson Investment Management Inc. raised its position in shares of Viavi Solutions by 1.7% in the third quarter. Thompson Investment Management Inc. now owns 360,627 shares of the communications equipment provider’s stock worth $3,296,000 after acquiring an additional 5,895 shares during the period. Knights of Columbus Asset Advisors LLC boosted its stake in shares of Viavi Solutions by 2.8% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 170,780 shares of the communications equipment provider’s stock worth $1,561,000 after acquiring an additional 4,711 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in shares of Viavi Solutions by 13.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 11,922 shares of the communications equipment provider’s stock worth $109,000 after acquiring an additional 1,411 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Viavi Solutions by 20.9% during the 3rd quarter. Victory Capital Management Inc. now owns 112,341 shares of the communications equipment provider’s stock valued at $1,027,000 after acquiring an additional 19,456 shares during the period. 95.54% of the stock is owned by institutional investors and hedge funds.

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.