B. Riley Cuts Viavi Solutions (NASDAQ:VIAV) Price Target to $8.50

Viavi Solutions (NASDAQ:VIAV) had its price objective dropped by equities researchers at B. Riley from $9.00 to $8.50 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the communications equipment provider’s stock. B. Riley’s target price suggests a potential upside of 16.44% from the company’s previous close.

Several other research firms have also issued reports on VIAV. Argus raised shares of Viavi Solutions to a “strong-buy” rating in a research report on Thursday, May 9th. StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Rosenblatt Securities downgraded Viavi Solutions from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $10.00 to $8.25 in a research report on Wednesday, June 26th. Susquehanna downgraded Viavi Solutions from a “positive” rating to a “neutral” rating and set a $9.00 target price on the stock. in a report on Friday, May 3rd. Finally, Stifel Nicolaus decreased their price target on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a report on Tuesday, August 6th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Viavi Solutions presently has an average rating of “Moderate Buy” and an average price target of $10.71.

Viavi Solutions Trading Down 7.1 %

VIAV stock traded down $0.56 on Friday, hitting $7.30. 3,064,313 shares of the company were exchanged, compared to its average volume of 1,875,548. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.81 and a quick ratio of 3.35. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of -365.00 and a beta of 0.91. Viavi Solutions has a twelve month low of $6.60 and a twelve month high of $11.32. The business’s fifty day moving average is $7.42 and its two-hundred day moving average is $8.37.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Viavi Solutions had a positive return on equity of 4.65% and a negative net margin of 0.42%. The business had revenue of $252.00 million during the quarter, compared to the consensus estimate of $251.83 million. As a group, research analysts forecast that Viavi Solutions will post 0.12 earnings per share for the current year.

Insider Buying and Selling at Viavi Solutions

In related news, EVP Paul Mcnab sold 6,822 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $7.33, for a total value of $50,005.26. Following the sale, the executive vice president now directly owns 42,955 shares of the company’s stock, valued at $314,860.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Viavi Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Edgestream Partners L.P. boosted its holdings in Viavi Solutions by 31.0% in the second quarter. Edgestream Partners L.P. now owns 164,974 shares of the communications equipment provider’s stock worth $1,133,000 after purchasing an additional 39,076 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Viavi Solutions by 12.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,818,337 shares of the communications equipment provider’s stock worth $39,972,000 after buying an additional 661,450 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Viavi Solutions by 98,561.6% in the 2nd quarter. Federated Hermes Inc. now owns 187,457 shares of the communications equipment provider’s stock valued at $1,288,000 after buying an additional 187,267 shares during the period. Headlands Technologies LLC grew its position in shares of Viavi Solutions by 339.3% during the 2nd quarter. Headlands Technologies LLC now owns 26,391 shares of the communications equipment provider’s stock valued at $181,000 after buying an additional 20,383 shares during the last quarter. Finally, Heritage Family Offices LLP acquired a new stake in Viavi Solutions during the second quarter worth about $92,000. 95.54% of the stock is owned by institutional investors.

Viavi Solutions Company Profile

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.