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 stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $8.20, for a total transaction of $123,000.00. Following the transaction, the director now directly owns 228,514 shares of the company’s stock, valued at $1,873,814.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 value of $245,100.00.

Viavi Solutions Trading Down 0.7 %

Shares of VIAV traded down $0.06 during mid-day trading on Monday, reaching $8.32. The company had a trading volume of 733,337 shares, compared to its average volume of 1,809,369. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -419.00 and a beta of 0.91. The company has a current ratio of 3.55, a quick ratio of 3.16 and a debt-to-equity ratio of 0.93. The firm has a fifty day simple moving average of $7.87 and a 200-day simple moving average of $8.12. Viavi Solutions Inc. has a fifty-two week low of $6.60 and a fifty-two week high of $11.32.

Viavi Solutions (NASDAQ:VIAV) last issued its earnings results on Thursday, August 8th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $252.00 million during the quarter, compared to analysts’ expectations of $251.83 million. Viavi Solutions had a positive return on equity of 3.81% and a negative net margin of 2.58%. On average, sell-side analysts anticipate that Viavi Solutions Inc. will post 0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Viavi Solutions

Large investors have recently made changes to their positions in the business. Innealta Capital LLC acquired a new position in Viavi Solutions during the 2nd quarter worth approximately $38,000. Headlands Technologies LLC purchased a new position in shares of Viavi Solutions in the first quarter valued at $55,000. Quarry LP grew its holdings in Viavi Solutions by 419.7% during the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock valued at $50,000 after purchasing an additional 5,838 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Viavi Solutions during the 2nd quarter worth $52,000. Finally, Park Avenue Securities LLC purchased a new position in Viavi Solutions in the first quarter valued at about $99,000. Institutional investors and hedge funds own 95.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on VIAV. StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Rosenblatt Securities downgraded shares of Viavi Solutions from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $10.00 to $8.25 in a report on Wednesday, June 26th. Stifel Nicolaus dropped their target price 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 reduced their price objective on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a report on Friday, August 9th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a report on Friday, August 9th. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.71.

Viavi Solutions Company Profile

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.