Viavi Solutions (NASDAQ:VIAV) Stock Price Target Lowered at Needham & Company LLC

Viavi Solutions (NASDAQ:VIAV) had its target price dropped by Needham & Company LLC from $60.00 to $53.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the communications equipment provider’s stock. Needham & Company LLC‘s price objective indicates a potential upside of 80.39% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Stifel Nicolaus set a $65.00 price target on shares of Viavi Solutions in a research note on Wednesday, September 23rd. UBS Group decreased their price objective on shares of Viavi Solutions from $60.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th. B. Riley Financial cut their target price on Viavi Solutions from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Weiss Ratings lowered Viavi Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, September 8th. Finally, Zacks Research lowered Viavi Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.67.

Viavi Solutions Stock Performance

Shares of NASDAQ VIAV opened at $29.38 on Thursday. The firm’s 50-day moving average price is $37.12 and its 200-day moving average price is $38.55. Viavi Solutions has a 52-week low of $15.51 and a 52-week high of $60.43. The company has a market cap of $7.23 billion, a PE ratio of -195.85 and a beta of 1.31. The company has a quick ratio of 1.62, a current ratio of 1.85 and a debt-to-equity ratio of 0.27.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings data on Wednesday, November 4th. The communications equipment provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Viavi Solutions had a positive return on equity of 19.60% and a negative net margin of 2.00%. The company had revenue of $469.30 million during the quarter, compared to the consensus estimate of $455.06 million. During the same period in the previous year, the company posted $0.15 EPS. The firm’s revenue was up 56.9% on a year-over-year basis. As a group, analysts anticipate that Viavi Solutions will post 1.42 EPS for the current year.

Insider Buying and Selling

In related news, Director Laura A. Black sold 71,000 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $46.12, for a total value of $3,274,520.00. Following the sale, the director directly owned 71,497 shares in the company, valued at approximately $3,297,441.64. The trade was a 49.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Luke M. Scrivanich sold 35,866 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $36.24, for a total transaction of $1,299,783.84. Following the transaction, the senior vice president directly owned 39,598 shares of the company’s stock, valued at $1,435,031.52. The trade was a 47.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 199,694 shares of company stock worth $7,976,233 in the last three months. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Viavi Solutions

A number of large investors have recently modified their holdings of VIAV. Silvant Capital Management LLC purchased a new position in shares of Viavi Solutions in the 2nd quarter valued at about $33,000. WPG Advisers LLC increased its stake in shares of Viavi Solutions by 96.2% during the first quarter. WPG Advisers LLC now owns 775 shares of the communications equipment provider’s stock worth $26,000 after buying an additional 380 shares during the period. Persistent Asset Partners Ltd purchased a new stake in shares of Viavi Solutions during the second quarter worth approximately $38,000. Fortitude Family Office LLC raised its holdings in Viavi Solutions by 413.3% in the third quarter. Fortitude Family Office LLC now owns 811 shares of the communications equipment provider’s stock valued at $34,000 after acquiring an additional 653 shares in the last quarter. Finally, Carolina Wealth Advisors LLC raised its holdings in Viavi Solutions by 83.2% in the second quarter. Carolina Wealth Advisors LLC now owns 852 shares of the communications equipment provider’s stock valued at $41,000 after acquiring an additional 387 shares in the last quarter. Hedge funds and other institutional investors own 95.54% of the company’s stock.

More Viavi Solutions News

Here are the key news stories impacting Viavi Solutions this week:

• Positive Sentiment: Viavi earned $0.47 per share, ahead of the roughly $0.41 consensus estimate and up from $0.15 a year earlier. Revenue reached $469.3 million, topping estimates of about $455 million and rising 56.9% year over year. VIAVI Announces First Quarter Fiscal 2027 Results
• Positive Sentiment: The company authorized a $500 million share buyback, which may support demand for its stock and signals management’s willingness to return capital to shareholders. Viavi announces a $500 million equity buyback
• Positive Sentiment: Viavi provided an optimistic revenue outlook for the next quarter, adding to the upbeat earnings report. Viavi reports bullish results and optimistic revenue guidance
• Negative Sentiment: Despite the adjusted earnings beat, the supplied company metrics show a negative net margin, a reminder that profitability on a reported basis remains a concern.

Viavi Solutions Company Profile

Viavi Solutions Inc (NASDAQ: VIAV) develops equipment, software and services used to test, monitor and secure communications networks. Its solutions support network operators, equipment manufacturers, government agencies and other organizations involved in the design, deployment and operation of wired and wireless networks.

The company’s products include fiber-optic and broadband test instruments, network performance and service-assurance software, optical spectrum analyzers, monitoring systems and tools for testing 5G and other advanced communications technologies.