Insider Selling: Viavi Solutions Inc. (NASDAQ:VIAV) Director Sells 15,000 Shares of Stock

Viavi Solutions Inc. (NASDAQ:VIAV) Director Masood Jabbar sold 15,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $10.14, for a total transaction of $152,100.00. Following the transaction, the director now owns 225,333 shares in the company, valued at $2,284,876.62. This represents a 6.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Monday, October 14th, Masood Jabbar sold 15,000 shares of Viavi Solutions stock. The shares were sold at an average price of $9.17, for a total transaction of $137,550.00.
• On Monday, September 16th, Masood Jabbar sold 15,000 shares of Viavi Solutions stock. The stock was sold at an average price of $8.20, for a total transaction of $123,000.00.
• On Wednesday, August 21st, Masood Jabbar sold 30,000 shares of Viavi Solutions stock. The shares were sold at an average price of $8.17, for a total transaction of $245,100.00.

Viavi Solutions Trading Down 1.7 %

NASDAQ:VIAV traded down $0.17 during mid-day trading on Thursday, hitting $10.06. 2,170,272 shares of the company’s stock were exchanged, compared to its average volume of 1,801,963. The firm has a market capitalization of $2.23 billion, a P/E ratio of -60.18 and a beta of 0.90. Viavi Solutions Inc. has a fifty-two week low of $6.60 and a fifty-two week high of $11.32. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. The company has a 50 day simple moving average of $9.10 and a 200-day simple moving average of $8.13.

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

Analyst Upgrades and Downgrades

VIAV has been the subject of several analyst reports. StockNews.com raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a report on Tuesday. Stifel Nicolaus decreased their price objective on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a report on Tuesday, August 6th. B. Riley decreased their price objective on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a report on Friday, August 9th. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a report on Friday, November 1st. Finally, Rosenblatt Securities boosted their price objective on shares of Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Five 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.42.

Hedge Funds Weigh In On Viavi Solutions

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Viavi Solutions by 1.4% in the first quarter. Vanguard Group Inc. now owns 29,148,414 shares of the communications equipment provider’s stock worth $264,959,000 after purchasing an additional 408,484 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Viavi Solutions by 127.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 204,786 shares of the communications equipment provider’s stock valued at $1,862,000 after buying an additional 114,822 shares during the period. Federated Hermes Inc. lifted its position 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 valued at $1,288,000 after buying an additional 187,267 shares during the period. First Eagle Investment Management LLC raised its position in shares of Viavi Solutions by 17.4% in the 1st quarter. First Eagle Investment Management LLC now owns 750,937 shares of the communications equipment provider’s stock worth $6,826,000 after purchasing an additional 111,500 shares during the last quarter. Finally, Capital World Investors raised its position in shares of Viavi Solutions by 305.4% in the 1st quarter. Capital World Investors now owns 12,161,535 shares of the communications equipment provider’s stock worth $110,548,000 after purchasing an additional 9,161,535 shares during the last quarter. 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.