Viavi Solutions (NASDAQ:VIAV) Upgraded by StockNews.com to Strong-Buy Rating

StockNews.com upgraded shares of Viavi Solutions (NASDAQ:VIAV) from a buy rating to a strong-buy rating in a research note issued to investors on Tuesday morning.

Several other research analysts also recently commented on the company. Stifel Nicolaus reissued a “buy” rating and issued a $13.00 price objective (up from $12.00) on shares of Viavi Solutions in a research note on Friday, January 31st. Rosenblatt Securities increased their price objective on Viavi Solutions from $12.00 to $13.50 and gave the company a “buy” rating in a research note on Friday, May 2nd. Argus increased their price objective on Viavi Solutions from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Morgan Stanley reduced their price objective on Viavi Solutions from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Tuesday, April 8th. Finally, Northland Securities reissued an “outperform” rating and issued a $14.00 price objective (up from $13.00) on shares of Viavi Solutions in a research note on Friday, January 31st. 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.69.

Viavi Solutions Trading Up 0.1%

Shares of VIAV stock opened at $9.49 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.55 and a quick ratio of 3.18. The company has a market cap of $2.12 billion, a price-to-earnings ratio of -52.72 and a beta of 0.92. The stock has a 50 day simple moving average of $10.37 and a 200-day simple moving average of $10.53. Viavi Solutions has a 1-year low of $6.60 and a 1-year high of $12.91.

Insiders Place Their Bets

In other Viavi Solutions news, SVP Luke M. Scrivanich sold 14,323 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $11.24, for a total value of $160,990.52. Following the completion of the sale, the senior vice president now directly owns 55,877 shares of the company’s stock, valued at $628,057.48. This trade represents a 20.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard Belluzzo sold 8,385 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $8.92, for a total value of $74,794.20. Following the completion of the sale, the director now directly owns 259,081 shares of the company’s stock, valued at $2,311,002.52. This trade represents a 3.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,549 shares of company stock valued at $485,916 in the last three months. 1.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Viavi Solutions

A number of hedge funds have recently modified their holdings of the business. Picton Mahoney Asset Management grew 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 worth $32,000 after purchasing an additional 833 shares during the period. Heritage Family Offices LLP grew its holdings in shares of Viavi Solutions by 7.5% during the 1st quarter. Heritage Family Offices LLP now owns 14,970 shares of the communications equipment provider’s stock worth $168,000 after purchasing an additional 1,045 shares during the period. First Horizon Advisors Inc. grew its holdings in shares of 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 purchasing an additional 1,138 shares during the period. Sanctuary Advisors LLC grew its holdings in shares of Viavi Solutions by 8.1% during the 4th 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 during the period. Finally, Xponance Inc. grew its holdings in shares of Viavi Solutions by 11.5% during the 4th quarter. Xponance Inc. now owns 15,977 shares of the communications equipment provider’s stock worth $161,000 after purchasing an additional 1,649 shares during the period. 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.