Insider Selling: Viavi Solutions Inc. (NASDAQ:VIAV) SVP Sells $29,224.86 in Stock

Viavi Solutions Inc. (NASDAQ:VIAV) SVP Luke M. Scrivanich sold 2,802 shares of the company’s stock in a transaction 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 transaction, the senior vice president now owns 54,517 shares of the company’s stock, valued at approximately $568,612.31. The trade was a 4.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Viavi Solutions Stock Performance

NASDAQ VIAV opened at $11.05 on Friday. The business has a 50 day moving average price of $9.84 and a 200 day moving average price of $8.53. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.71 and a quick ratio of 3.31. The company has a market capitalization of $2.45 billion, a P/E ratio of -65.00 and a beta of 0.92. Viavi Solutions Inc. has a 1-year low of $6.60 and a 1-year high of $11.49.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. The business had revenue of $238.20 million during the quarter, compared to the consensus estimate of $240.09 million. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The business’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 EPS. Sell-side analysts expect that Viavi Solutions Inc. will post 0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on VIAV. StockNews.com raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a report on Friday, December 6th. UBS Group began coverage on Viavi Solutions in a research note on Tuesday, November 19th. They set a “neutral” rating and a $10.60 target price for the company. Northland Securities lifted their price target on Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Rosenblatt Securities upped their price objective on Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.44.

Institutional Trading of Viavi Solutions

Institutional investors and hedge funds have recently modified their holdings of the business. Westwood Holdings Group Inc. lifted its position in shares of Viavi Solutions by 9.2% in the second quarter. Westwood Holdings Group Inc. now owns 7,203,703 shares of the communications equipment provider’s stock valued at $49,489,000 after acquiring an additional 606,522 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in 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 valued at $39,972,000 after purchasing an additional 661,450 shares during the last quarter. Geode Capital Management LLC raised its stake in Viavi Solutions by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 5,307,974 shares of the communications equipment provider’s stock valued at $47,887,000 after purchasing an additional 54,633 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Viavi Solutions by 65.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,290,197 shares of the communications equipment provider’s stock valued at $22,604,000 after purchasing an additional 1,298,394 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Viavi Solutions by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,194,959 shares of the communications equipment provider’s stock worth $28,819,000 after purchasing an additional 217,399 shares during the last quarter. Hedge funds and other institutional investors own 95.54% of the company’s stock.

About Viavi Solutions

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.