Insider Selling: Viavi Solutions Inc. (NASDAQ:VIAV) EVP Sells $50,024.00 in Stock

Viavi Solutions Inc. (NASDAQ:VIAV) EVP Paul Mcnab sold 5,920 shares of Viavi Solutions stock in a transaction on Friday, September 13th. The stock was sold at an average price of $8.45, for a total transaction of $50,024.00. Following the transaction, the executive vice president now directly owns 34,545 shares of the company’s stock, valued at $291,905.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Paul Mcnab also recently made the following trade(s):

• On Tuesday, August 13th, Paul Mcnab sold 7,324 shares of Viavi Solutions stock. The stock was sold at an average price of $7.52, for a total transaction of $55,076.48.

Viavi Solutions Stock Down 1.1 %

Shares of VIAV opened at $8.28 on Thursday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.16 and a current ratio of 3.55. Viavi Solutions Inc. has a 52 week low of $6.60 and a 52 week high of $11.32. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of -414.00 and a beta of 0.91. The stock has a fifty day moving average of $7.95 and a 200-day moving average of $8.10.

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

Analyst Ratings Changes

VIAV has been the subject of a number of research reports. StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Rosenblatt Securities cut shares of Viavi Solutions from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $10.00 to $8.25 in a research note on Wednesday, June 26th. Stifel Nicolaus decreased their target price on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. B. Riley lowered their target price on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a research note on Friday, August 9th. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $10.71.

Institutional Investors Weigh In On Viavi Solutions

Several hedge funds have recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new position in shares of Viavi Solutions during the second quarter valued at $38,000. Quarry LP increased its holdings in Viavi Solutions by 419.7% in the second 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 during the period. Summit Securities Group LLC bought a new position in Viavi Solutions during the 2nd quarter worth $52,000. Headlands Technologies LLC acquired a new position in Viavi Solutions during the 1st quarter worth about $55,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Viavi Solutions in the 2nd quarter valued at about $76,000. 95.54% of the stock is currently owned by institutional investors and hedge funds.

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.