Viavi Solutions (NASDAQ:VIAV) Receives Buy Rating from Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Viavi Solutions (NASDAQ:VIAV) in a research report sent to investors on Friday,Benzinga reports. Rosenblatt Securities currently has a $13.50 target price on the communications equipment provider’s stock.

A number of other analysts have also issued reports on the stock. UBS Group decreased their target price on shares of Viavi Solutions from $11.50 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. B. Riley decreased their price target on shares of Viavi Solutions from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Viavi Solutions from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price target on shares of Viavi Solutions in a report on Friday, May 2nd. Finally, Morgan Stanley decreased their price target on shares of Viavi Solutions from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Viavi Solutions currently has an average rating of “Moderate Buy” and an average target price of $12.69.

Viavi Solutions Stock Up 0.6%

Shares of NASDAQ VIAV opened at $9.40 on Friday. Viavi Solutions has a 1 year low of $6.60 and a 1 year high of $12.91. The firm’s 50 day moving average price is $9.52 and its 200 day moving average price is $10.39. The firm has a market cap of $2.10 billion, a P/E ratio of 470.24 and a beta of 0.87. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.32 and a current ratio of 1.53.

Insider Activity

In related news, Director Richard Belluzzo sold 8,385 shares of Viavi Solutions stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $8.92, for a total transaction of $74,794.20. Following the transaction, the director now owns 259,081 shares in the company, valued at approximately $2,311,002.52. The trade was a 3.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On Viavi Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in VIAV. Picton Mahoney Asset Management lifted its holdings in shares of Viavi Solutions by 35.0% during the 4th quarter. Picton Mahoney Asset Management now owns 3,212 shares of the communications equipment provider’s stock valued at $32,000 after acquiring an additional 833 shares in the last quarter. USA Financial Formulas purchased a new stake in Viavi Solutions during the 1st quarter worth $53,000. AlphaQuest LLC purchased a new stake in Viavi Solutions during the 1st quarter worth $55,000. First Horizon Advisors Inc. increased its stake in Viavi Solutions by 29.1% during the 1st quarter. First Horizon Advisors Inc. now owns 5,046 shares of the communications equipment provider’s stock worth $56,000 after buying an additional 1,138 shares during the period. Finally, Sterling Capital Management LLC increased its stake in Viavi Solutions by 804.6% during the 4th quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider’s stock worth $70,000 after buying an additional 6,171 shares during the period. Institutional investors and hedge funds own 95.54% of the company’s stock.

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.