Viavi Solutions’ (NASDAQ:VIAV) Hold Rating Reaffirmed at Stifel Nicolaus
Stifel Nicolaus reissued their hold rating on shares of Viavi Solutions Inc. (NASDAQ:VIAV) in a research report released on Thursday morning. Stifel Nicolaus currently has a $11.00 target price on the communications equipment provider’s stock.
A number of other brokerages have also issued reports on VIAV. BidaskClub lowered Viavi Solutions from a buy rating to a hold rating in a research report on Thursday, June 22nd. Zacks Investment Research lowered Viavi Solutions from a buy rating to a hold rating in a research report on Wednesday, May 10th. B. Riley upgraded Viavi Solutions from a neutral rating to a buy rating and set a $14.00 target price on the stock in a research report on Friday, July 21st. Finally, Jefferies Group LLC upgraded Viavi Solutions from a hold rating to a buy rating and increased their target price for the company from $9.50 to $14.00 in a research report on Friday, May 5th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Viavi Solutions currently has an average rating of Buy and a consensus price target of $11.41.
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In related news, EVP Paul Mcnab sold 3,702 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $11.52, for a total value of $42,647.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Luke M. Scrivanich sold 4,691 shares of the stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $11.39, for a total value of $53,430.49. Following the completion of the transaction, the senior vice president now directly owns 22,707 shares of the company’s stock, valued at $258,632.73. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,334 shares of company stock valued at $150,647. 0.35% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of VIAV. Essex Investment Management Co. LLC purchased a new position in Viavi Solutions during the second quarter valued at approximately $109,000. Creative Planning increased its position in Viavi Solutions by 177.9% in the second quarter. Creative Planning now owns 11,302 shares of the communications equipment provider’s stock valued at $119,000 after buying an additional 7,235 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new position in Viavi Solutions during the first quarter valued at approximately $132,000. Piedmont Investment Advisors LLC purchased a new position in Viavi Solutions during the first quarter valued at approximately $148,000. Finally, First Mercantile Trust Co. purchased a new position in Viavi Solutions during the first quarter valued at approximately $155,000. 93.25% of the stock is owned by hedge funds and other institutional investors.
Viavi Solutions Company Profile
Viavi Solutions Inc (Viavi) is a provider of network test, monitoring and assurance solutions to communications service providers, enterprises and their ecosystems. The Company also offers thin film optical coatings, providing light management solutions to anti-counterfeiting, consumer and industrial, government and healthcare and other markets.
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