Viavi Solutions (NASDAQ:VIAV) Price Target Raised to $10.00 at Morgan Stanley

Viavi Solutions (NASDAQ:VIAV) had its target price raised by Morgan Stanley from $9.50 to $10.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an underweight rating on the communications equipment provider’s stock.

Several other research firms also recently commented on VIAV. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Needham & Company LLC upgraded Viavi Solutions from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Friday. Stifel Nicolaus raised their target price on shares of Viavi Solutions from $10.50 to $12.00 and gave the stock a “buy” rating in a report on Monday, December 16th. UBS Group initiated coverage on shares of Viavi Solutions in a research note on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 target price on the stock. Finally, Rosenblatt Securities increased their price target on shares of Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Viavi Solutions has a consensus rating of “Moderate Buy” and an average price target of $11.88.

Viavi Solutions Stock Up 20.5 %

NASDAQ VIAV opened at $12.04 on Friday. Viavi Solutions has a 52-week low of $6.60 and a 52-week high of $12.91. The company has a fifty day moving average of $10.30 and a 200-day moving average of $9.25. The company has a quick ratio of 3.31, a current ratio of 3.71 and a debt-to-equity ratio of 0.91.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $238.20 million for the quarter, compared to the consensus estimate of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. During the same period last year, the firm posted $0.05 earnings per share. The business’s revenue was down 3.9% compared to the same quarter last year. On average, research analysts forecast that Viavi Solutions will post 0.18 earnings per share for the current fiscal year.

Insider Activity at Viavi Solutions

In other Viavi Solutions news, Director Masood Jabbar sold 15,000 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $10.14, for a total value of $152,100.00. Following the completion of the transaction, the director now owns 225,333 shares in the company, valued at approximately $2,284,876.62. This represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Luke M. Scrivanich sold 2,802 shares of the company’s 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 $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 have sold a total of 47,802 shares of company stock worth $481,625 over the last quarter. Corporate insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On Viavi Solutions

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in Viavi Solutions by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 5,307,974 shares of the communications equipment provider’s stock valued at $47,887,000 after buying an additional 54,633 shares in the last quarter. Leeward Investments LLC MA grew its stake in shares of Viavi Solutions by 17.1% in the third 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 last quarter. Sanctuary Advisors LLC increased its holdings in shares of Viavi Solutions by 44.1% during the third quarter. Sanctuary Advisors LLC now owns 15,938 shares of the communications equipment provider’s stock valued at $144,000 after acquiring an additional 4,875 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Viavi Solutions by 7.3% during the third 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 in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in shares of Viavi Solutions by 5.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 43,732 shares of the communications equipment provider’s stock worth $442,000 after purchasing an additional 2,277 shares during the last quarter. 95.54% of the stock is currently owned by hedge funds and other 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.