Rosenblatt Securities Upgrades Viavi Solutions (NASDAQ:VIAV) to “Buy”

Viavi Solutions (NASDAQ:VIAV) was upgraded by equities researchers at Rosenblatt Securities from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday,Finviz reports. The brokerage presently has a $14.00 target price on the communications equipment provider’s stock. Rosenblatt Securities’ target price points to a potential upside of 29.51% from the stock’s previous close.

A number of other brokerages have also issued reports on VIAV. 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 research report on Friday, January 31st. 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 research report on Friday, January 31st. B. Riley boosted their price target on shares of Viavi Solutions from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. UBS Group boosted their price target on shares of Viavi Solutions from $10.60 to $11.50 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, StockNews.com cut shares of Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Viavi Solutions presently has an average rating of “Moderate Buy” and a consensus price target of $12.72.

Viavi Solutions Trading Down 4.3 %

Viavi Solutions stock opened at $10.81 on Friday. The firm’s 50 day moving average price is $10.99 and its two-hundred day moving average price is $9.94. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of -60.05 and a beta of 0.92. Viavi Solutions has a 1 year low of $6.60 and a 1 year high of $12.91. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.18 and a current ratio of 3.55.

Insider Activity at Viavi Solutions

In other news, EVP Paul Mcnab sold 9,034 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $11.09, for a total value of $100,187.06. Following the completion of the transaction, the executive vice president now owns 38,775 shares of the company’s stock, valued at approximately $430,014.75. This represents a 18.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Luke M. Scrivanich sold 2,802 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $10.43, for a total value of $29,224.86. Following the completion of the sale, the senior vice president now directly owns 54,517 shares of the company’s stock, valued at approximately $568,612.31. This represents a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,159 shares of company stock valued at $590,702 over the last three months. 1.52% of the stock is owned by corporate insiders.

Institutional Trading of Viavi Solutions

Hedge funds have recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of Viavi Solutions in the 3rd quarter valued at $25,000. Picton Mahoney Asset Management increased its position in Viavi Solutions by 35.0% during the fourth quarter. Picton Mahoney Asset Management now owns 3,212 shares of the communications equipment provider’s stock worth $32,000 after buying an additional 833 shares during the last quarter. Sterling Capital Management LLC grew its position in shares of Viavi Solutions by 804.6% in the fourth quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider’s stock valued at $70,000 after purchasing an additional 6,171 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Viavi Solutions in the fourth quarter valued at approximately $75,000. Finally, Smartleaf Asset Management LLC grew its position in Viavi Solutions by 836.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider’s stock worth $84,000 after buying an additional 7,434 shares in the last quarter. Institutional investors own 95.54% of the company’s stock.

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.