B. Riley Increases Viavi Solutions (NASDAQ:VIAV) Price Target to $22.00

Viavi Solutions (NASDAQ:VIAV) had its price target increased by analysts at B. Riley from $18.00 to $22.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the communications equipment provider’s stock. B. Riley’s target price would suggest a potential upside of 6.28% from the company’s current price.

VIAV has been the subject of a number of other research reports. Needham & Company LLC boosted their price target on Viavi Solutions from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Weiss Ratings restated a “sell (d)” rating on shares of Viavi Solutions in a research note on Monday, December 29th. Rosenblatt Securities increased their target price on shares of Viavi Solutions from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Argus raised their target price on shares of Viavi Solutions from $16.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, Stifel Nicolaus upped their price target on shares of Viavi Solutions from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Viavi Solutions presently has an average rating of “Moderate Buy” and an average price target of $17.89.

Viavi Solutions Price Performance

NASDAQ VIAV opened at $20.70 on Monday. The company has a 50-day moving average price of $18.09 and a two-hundred day moving average price of $14.47. Viavi Solutions has a 52 week low of $8.10 and a 52 week high of $20.73. The stock has a market cap of $4.62 billion, a price-to-earnings ratio of 295.71 and a beta of 0.94. The company has a current ratio of 1.99, a quick ratio of 1.74 and a debt-to-equity ratio of 0.88.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings data on Wednesday, October 29th. The communications equipment provider reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.02. Viavi Solutions had a return on equity of 10.70% and a net margin of 1.33%.The business had revenue of $299.10 million during the quarter, compared to the consensus estimate of $294.35 million. During the same period in the previous year, the firm posted $0.06 earnings per share. The business’s revenue was up 25.6% on a year-over-year basis. Analysts forecast that Viavi Solutions will post 0.26 EPS for the current year.

Insider Activity

In other Viavi Solutions news, Director Donald A. Colvin sold 40,000 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $17.09, for a total transaction of $683,600.00. Following the transaction, the director owned 148,524 shares in the company, valued at $2,538,275.16. This trade represents a 21.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kevin Christopher Siebert sold 24,225 shares of Viavi Solutions stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $18.26, for a total transaction of $442,348.50. Following the completion of the transaction, the senior vice president directly owned 49,225 shares in the company, valued at approximately $898,848.50. This represents a 32.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 606,226 shares of company stock valued at $10,714,820. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Penserra Capital Management LLC acquired a new stake in shares of Viavi Solutions in the second quarter valued at about $7,764,000. Oak Ridge Investments LLC bought a new stake in Viavi Solutions during the 3rd quarter valued at approximately $3,855,000. Assenagon Asset Management S.A. grew its holdings in Viavi Solutions by 29.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 974,906 shares of the communications equipment provider’s stock valued at $12,372,000 after buying an additional 221,949 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new position in Viavi Solutions in the 3rd quarter worth approximately $1,442,000. Finally, Inspire Investing LLC bought a new position in Viavi Solutions in the 3rd quarter worth approximately $1,096,000. 95.54% of the stock is currently owned by institutional investors and hedge funds.

About Viavi Solutions

Viavi Solutions Inc is a provider of network test, monitoring and assurance solutions for communications service providers, cable operators, enterprises and government agencies. The company offers an extensive portfolio of fiber optic and copper cable test and measurement instruments, wireless network testing equipment and network performance monitoring software. Its products are designed to support the deployment, maintenance and optimization of high-speed broadband, 5G wireless, data center and enterprise networks.

Viavi’s product offerings are organized into two primary segments: Network & Service Enablement and Optical Security & Performance.