Viavi Solutions (NASDAQ:VIAV) Price Target Raised to $13.50

Viavi Solutions (NASDAQ:VIAV) had its price objective raised by Rosenblatt Securities from $12.00 to $13.50 in a report issued on Friday morning,Benzinga reports. They currently have a buy rating on the communications equipment provider’s stock.

VIAV has been the subject of several other reports. B. Riley lifted their price target on shares of Viavi Solutions from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, January 31st. StockNews.com lowered Viavi Solutions from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 18th. UBS Group raised their price target on Viavi Solutions from $10.60 to $11.50 and gave the stock a “neutral” rating in a report on Friday, January 31st. Argus upped their price objective on Viavi Solutions from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Finally, Morgan Stanley cut their target price on Viavi Solutions from $10.00 to $8.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $12.69.

Viavi Solutions Stock Performance

Shares of VIAV opened at $9.34 on Friday. The stock has a market capitalization of $2.07 billion, a PE ratio of -51.89 and a beta of 0.92. The business’s fifty day moving average price is $10.64 and its 200 day moving average price is $10.54. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.55 and a quick ratio of 3.18. Viavi Solutions has a 12-month low of $6.60 and a 12-month high of $12.91.

Insiders Place Their Bets

In other Viavi Solutions news, SVP James L. Veler, Jr. sold 13,807 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $10.86, for a total transaction of $149,944.02. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Luke M. Scrivanich sold 14,323 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $11.24, for a total transaction of $160,990.52. Following the completion of the transaction, the senior vice president now owns 55,877 shares of the company’s stock, valued at $628,057.48. This trade represents a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,164 shares of company stock worth $411,122. 1.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On Viavi Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of Viavi Solutions by 26.3% in the 4th quarter. Wellington Management Group LLP now owns 19,614,684 shares of the communications equipment provider’s stock worth $198,108,000 after buying an additional 4,085,648 shares in the last quarter. Victory Capital Management Inc. raised its position in Viavi Solutions by 7,293.1% in the first quarter. Victory Capital Management Inc. now owns 3,083,135 shares of the communications equipment provider’s stock worth $34,500,000 after acquiring an additional 3,041,432 shares in the last quarter. Woodline Partners LP lifted its holdings in Viavi Solutions by 423.7% in the 4th quarter. Woodline Partners LP now owns 3,435,678 shares of the communications equipment provider’s stock valued at $34,700,000 after acquiring an additional 2,779,615 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of Viavi Solutions in the 4th quarter worth approximately $16,722,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Viavi Solutions in the 4th quarter worth approximately $15,268,000. 95.54% of the stock is owned by institutional investors.

About Viavi Solutions

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.