Viavi Solutions (NASDAQ:VIAV) Upgraded by StockNews.com to “Strong-Buy” Rating

StockNews.com upgraded shares of Viavi Solutions (NASDAQ:VIAV) from a buy rating to a strong-buy rating in a research report released on Monday.

VIAV has been the subject of a number of other reports. Needham & Company LLC upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Friday. B. Riley boosted their price objective on shares of Viavi Solutions from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday. Rosenblatt Securities upped their target price on shares of Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a report on Friday, November 1st. Morgan Stanley upped their target price on shares of Viavi Solutions from $9.50 to $10.00 and gave the stock an “underweight” rating in a report on Friday. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $13.00 target price (up previously from $12.00) on shares of Viavi Solutions in a report on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.88.

Viavi Solutions Price Performance

Shares of NASDAQ VIAV opened at $12.33 on Monday. Viavi Solutions has a twelve month low of $6.60 and a twelve month high of $12.91. The firm has a market cap of $2.73 billion, a P/E ratio of -68.50 and a beta of 0.92. The company has a 50 day moving average of $10.34 and a 200 day moving average of $9.30. The company has a quick ratio of 3.18, a current ratio of 3.55 and a debt-to-equity ratio of 0.94.

Insider Buying and Selling at Viavi Solutions

In other news, SVP Luke M. Scrivanich sold 2,802 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $10.43, for a total transaction of $29,224.86. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Masood Jabbar sold 15,000 shares of the company’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 sale, the director now owns 225,333 shares in the company, valued at $2,284,876.62. This represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,802 shares of company stock valued at $481,625 in the last 90 days. Insiders own 1.52% of the company’s stock.

Institutional Trading of Viavi Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VIAV. Millennium Management LLC raised its position in Viavi Solutions by 41.6% in the 2nd quarter. Millennium Management LLC now owns 396,227 shares of the communications equipment provider’s stock worth $2,722,000 after purchasing an additional 116,355 shares during the period. Mackenzie Financial Corp raised its position in Viavi Solutions by 93.7% in the 2nd quarter. Mackenzie Financial Corp now owns 27,382 shares of the communications equipment provider’s stock worth $188,000 after purchasing an additional 13,247 shares during the period. Algert Global LLC purchased a new stake in Viavi Solutions in the 2nd quarter worth about $154,000. Sanctuary Advisors LLC purchased a new stake in Viavi Solutions in the 2nd quarter worth about $76,000. Finally, Handelsbanken Fonder AB increased its position in shares of Viavi Solutions by 14.1% during the third quarter. Handelsbanken Fonder AB now owns 58,910 shares of the communications equipment provider’s stock worth $531,000 after acquiring an additional 7,300 shares during the period. 95.54% of the stock is owned by hedge funds and other institutional investors.

Viavi Solutions Company Profile

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.