Northland Securities Reiterates “Outperform” Rating for Viavi Solutions (NASDAQ:VIAV)

Northland Securities reiterated their outperform rating on shares of Viavi Solutions (NASDAQ:VIAV) in a research note published on Friday morning,Benzinga reports. The firm currently has a $14.00 target price on the communications equipment provider’s stock, up from their previous target price of $13.00.

Several other equities research analysts have also recently commented on VIAV. UBS Group initiated coverage on Viavi Solutions in a research note on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 price target for the company. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a research report on Monday, December 16th. Morgan Stanley reiterated an “underweight” rating and set a $9.50 price target (up previously from $8.00) on shares of Viavi Solutions in a research note on Tuesday, December 17th. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Finally, Stifel Nicolaus lifted their price target on shares of Viavi Solutions from $10.50 to $12.00 and gave the company a “buy” rating in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $11.88.

Viavi Solutions Trading Up 20.5 %

Shares of NASDAQ:VIAV opened at $12.04 on Friday. The firm has a fifty day moving average of $10.30 and a two-hundred day moving average of $9.25. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.71 and a quick ratio of 3.31. Viavi Solutions has a 12-month low of $6.60 and a 12-month high of $12.91.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The firm had revenue of $238.20 million during the quarter, compared to analysts’ expectations of $240.09 million. During the same quarter last year, the firm earned $0.05 earnings per share. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. Equities analysts predict that Viavi Solutions will post 0.18 earnings per share for the current year.

Insider Activity

In other news, SVP Luke M. Scrivanich sold 2,802 shares of Viavi Solutions stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $10.43, for a total transaction of $29,224.86. Following the sale, the senior vice president now owns 54,517 shares of the company’s stock, valued at approximately $568,612.31. This trade represents a 4.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Masood Jabbar sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $10.01, for a total value of $300,300.00. Following the sale, the director now owns 180,333 shares in the company, valued at approximately $1,805,133.33. This represents a 14.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,802 shares of company stock valued at $481,625. 1.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Viavi Solutions

A number of institutional investors have recently bought and sold shares of the business. Venturi Wealth Management LLC acquired a new position in shares of Viavi Solutions in the 4th quarter valued at $75,000. Sanctuary Advisors LLC raised its position in Viavi Solutions by 8.1% in the fourth quarter. Sanctuary Advisors LLC now owns 17,226 shares of the communications equipment provider’s stock worth $172,000 after purchasing an additional 1,288 shares in the last quarter. Principal Financial Group Inc. raised its position in Viavi Solutions by 2.8% in the fourth quarter. Principal Financial Group Inc. now owns 1,075,675 shares of the communications equipment provider’s stock worth $10,864,000 after purchasing an additional 29,621 shares in the last quarter. White Pine Capital LLC lifted its stake in Viavi Solutions by 51.0% during the fourth quarter. White Pine Capital LLC now owns 55,515 shares of the communications equipment provider’s stock worth $561,000 after purchasing an additional 18,741 shares during the period. Finally, Legato Capital Management LLC boosted its holdings in Viavi Solutions by 26.9% during the fourth quarter. Legato Capital Management LLC now owns 139,248 shares of the communications equipment provider’s stock valued at $1,406,000 after purchasing an additional 29,480 shares in the last quarter. 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.