Viavi Solutions (NASDAQ:VIAV) Reaches New 52-Week High After Analyst Upgrade

Viavi Solutions Inc. (NASDAQ:VIAV) reached a new 52-week high during trading on Saturday after UBS Group raised their price target on the stock from $10.60 to $11.50. UBS Group currently has a neutral rating on the stock. Viavi Solutions traded as high as $12.91 and last traded at $12.04, with a volume of 17597862 shares changing hands. The stock had previously closed at $9.99.

VIAV has been the subject of a number of other research reports. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. B. Riley boosted their target price on shares of Viavi Solutions from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday. Needham & Company LLC upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Friday. Rosenblatt Securities lifted their price target on Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Northland Securities reissued an “outperform” rating and issued a $14.00 price objective (up from $13.00) on shares of Viavi Solutions in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.88.

Insiders Place Their Bets

In related news, Director Masood Jabbar sold 15,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $10.14, for a total transaction of $152,100.00. Following the completion of the sale, the director now owns 225,333 shares in the company, valued at approximately $2,284,876.62. This trade represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Luke M. Scrivanich sold 2,802 shares of Viavi Solutions stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $10.43, for a total transaction of $29,224.86. Following the completion of the sale, the senior vice president now directly owns 54,517 shares in the company, valued at approximately $568,612.31. This represents a 4.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,802 shares of company stock valued at $481,625 in the last 90 days. 1.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Viavi Solutions

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in Viavi Solutions by 1.0% during the third quarter. Geode Capital Management LLC now owns 5,307,974 shares of the communications equipment provider’s stock valued at $47,887,000 after purchasing an additional 54,633 shares during the period. Leeward Investments LLC MA grew its stake in shares of Viavi Solutions by 17.1% during the 3rd quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider’s stock worth $15,385,000 after acquiring an additional 249,554 shares during the period. Sanctuary Advisors LLC increased its holdings in Viavi Solutions by 44.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 15,938 shares of the communications equipment provider’s stock worth $144,000 after acquiring an additional 4,875 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Viavi Solutions by 7.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,194,959 shares of the communications equipment provider’s stock valued at $28,819,000 after acquiring an additional 217,399 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in Viavi Solutions by 5.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 43,732 shares of the communications equipment provider’s stock valued at $442,000 after purchasing an additional 2,277 shares during the last quarter. Hedge funds and other institutional investors own 95.54% of the company’s stock.

Viavi Solutions Price Performance

The stock has a market cap of $2.67 billion, a P/E ratio of -70.82 and a beta of 0.91. The company has a quick ratio of 3.31, a current ratio of 3.71 and a debt-to-equity ratio of 0.91. The business’s 50-day simple moving average is $10.30 and its two-hundred day simple moving average is $9.27.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The company had revenue of $238.20 million during the quarter, compared to the consensus estimate of $240.09 million. During the same period last year, the firm earned $0.05 EPS. Viavi Solutions’s revenue for the quarter was down 3.9% on a year-over-year basis. Sell-side analysts expect that Viavi Solutions Inc. will post 0.18 EPS for the current year.

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.