Insider Selling: Viavi Solutions Inc. (NASDAQ:VIAV) Director Sells 30,000 Shares of Stock

Viavi Solutions Inc. (NASDAQ:VIAV) Director Masood Jabbar sold 30,000 shares of the firm’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $10.01, for a total value of $300,300.00. Following the transaction, the director now directly owns 180,333 shares of the company’s stock, valued at approximately $1,805,133.33. This represents a 14.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Masood Jabbar also recently made the following trade(s):

• On Thursday, November 14th, Masood Jabbar sold 15,000 shares of Viavi Solutions stock. The shares were sold at an average price of $10.14, for a total value of $152,100.00.

Viavi Solutions Stock Up 1.7 %

Shares of Viavi Solutions stock traded up $0.17 during trading hours on Tuesday, reaching $10.09. The company’s stock had a trading volume of 1,199,286 shares, compared to its average volume of 1,173,531. The company has a market capitalization of $2.24 billion, a P/E ratio of -59.35 and a beta of 0.91. The stock’s fifty day simple moving average is $10.24 and its two-hundred day simple moving average is $8.97. Viavi Solutions Inc. has a one year low of $6.60 and a one year high of $11.49. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.31 and a current ratio of 3.71.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $238.20 million for the quarter, compared to analysts’ expectations of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.05 EPS. On average, research analysts forecast that Viavi Solutions Inc. will post 0.19 earnings per share for the current year.

Institutional Investors Weigh In On Viavi Solutions

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers boosted its position in Viavi Solutions by 3.8% in the second quarter. Rhumbline Advisers now owns 726,702 shares of the communications equipment provider’s stock worth $4,992,000 after purchasing an additional 26,681 shares during the last quarter. Federated Hermes Inc. increased its holdings in Viavi Solutions by 98,561.6% during the second quarter. Federated Hermes Inc. now owns 187,457 shares of the communications equipment provider’s stock worth $1,288,000 after buying an additional 187,267 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Viavi Solutions by 12.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,818,337 shares of the communications equipment provider’s stock worth $39,972,000 after acquiring an additional 661,450 shares during the period. Edgestream Partners L.P. boosted its stake 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 valued at $1,133,000 after acquiring an additional 39,076 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Viavi Solutions during the 2nd quarter valued at approximately $202,000. 95.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Viavi Solutions from $10.50 to $12.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research note on Monday, December 16th. 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 on the stock. Northland Securities raised their price objective on shares of Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Morgan Stanley reissued an “underweight” rating and set a $9.50 target price (up from $8.00) on shares of Viavi Solutions in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $10.44.

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.