Analysts Set Viavi Solutions Inc. (NASDAQ:VIAV) Target Price at $12.69

Shares of Viavi Solutions Inc. (NASDAQ:VIAV) have received an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $12.69.

A number of analysts recently commented on VIAV shares. B. Riley decreased their target price on Viavi Solutions from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Morgan Stanley decreased their target price on Viavi Solutions from $10.00 to $8.00 and set an “underweight” rating for the company in a research report on Tuesday, April 8th. UBS Group decreased their price objective on Viavi Solutions from $11.50 to $11.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Needham & Company LLC restated a “buy” rating and issued a $15.00 target price on shares of Viavi Solutions in a research note on Friday, May 2nd. Finally, Wall Street Zen raised shares of Viavi Solutions from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 13th.

Insider Buying and Selling at Viavi Solutions

In other news, Director Richard Belluzzo sold 8,385 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $8.92, for a total value of $74,794.20. Following the transaction, the director now owns 259,081 shares of the company’s stock, valued at approximately $2,311,002.52. This represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in VIAV. Principal Financial Group Inc. increased its holdings in shares of Viavi Solutions by 2.8% in the fourth quarter. Principal Financial Group Inc. now owns 1,075,675 shares of the communications equipment provider’s stock worth $10,864,000 after purchasing an additional 29,621 shares during the period. Sanctuary Advisors LLC increased its stake in Viavi Solutions by 8.1% in the fourth 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 fourth quarter valued at about $75,000. Handelsbanken Fonder AB raised its position in Viavi Solutions by 13.1% during the fourth quarter. Handelsbanken Fonder AB now owns 66,610 shares of the communications equipment provider’s stock valued at $673,000 after purchasing an additional 7,700 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Viavi Solutions by 14.3% during the fourth quarter. Bank of New York Mellon Corp now owns 3,475,819 shares of the communications equipment provider’s stock valued at $35,106,000 after purchasing an additional 435,265 shares in the last quarter. Institutional investors own 95.54% of the company’s stock.

Viavi Solutions Stock Performance

Shares of Viavi Solutions stock opened at $9.92 on Tuesday. Viavi Solutions has a one year low of $6.60 and a one year high of $12.91. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 496.25 and a beta of 0.87. The business has a 50-day simple moving average of $9.51 and a 200 day simple moving average of $10.37. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.53 and a quick ratio of 1.32.

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.