Insider Selling: Viavi Solutions Inc. (NASDAQ:VIAV) SVP Sells 14,323 Shares of Stock

Viavi Solutions Inc. (NASDAQ:VIAV) SVP Luke M. Scrivanich sold 14,323 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $11.24, for a total transaction of $160,990.52. Following the completion of the sale, the senior vice president now owns 55,877 shares in the company, valued at approximately $628,057.48. This trade represents a 20.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Viavi Solutions Price Performance

Shares of VIAV stock opened at $10.94 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.55 and a quick ratio of 3.18. The company has a market capitalization of $2.43 billion, a P/E ratio of -60.77 and a beta of 0.92. The company’s 50-day simple moving average is $11.00 and its two-hundred day simple moving average is $9.94. Viavi Solutions Inc. has a one year low of $6.60 and a one year high of $12.91.

Hedge Funds Weigh In On Viavi Solutions

A number of hedge funds have recently added to or reduced their stakes in VIAV. QRG Capital Management Inc. grew its stake in Viavi Solutions by 29.2% in the 3rd quarter. QRG Capital Management Inc. now owns 23,959 shares of the communications equipment provider’s stock worth $216,000 after acquiring an additional 5,420 shares in the last quarter. Leeward Investments LLC MA lifted its position in shares of Viavi Solutions by 17.1% in the 3rd quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider’s stock worth $15,385,000 after purchasing an additional 249,554 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Viavi Solutions in the 3rd quarter worth approximately $25,000. Kovack Advisors Inc. lifted its position in shares of Viavi Solutions by 33.5% in the 3rd quarter. Kovack Advisors Inc. now owns 206,200 shares of the communications equipment provider’s stock worth $1,860,000 after purchasing an additional 51,800 shares during the period. Finally, KBC Group NV lifted its position in shares of Viavi Solutions by 53.0% in the 3rd quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock worth $85,000 after purchasing an additional 3,252 shares during the period. 95.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on VIAV shares. Rosenblatt Securities upgraded shares of Viavi Solutions from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Friday. Stifel Nicolaus reiterated a “buy” rating and set a $13.00 price target (up from $12.00) on shares of Viavi Solutions in a report on Friday, January 31st. Morgan Stanley upped their price target on shares of Viavi Solutions from $9.50 to $10.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Argus upped their price target on shares of Viavi Solutions from $13.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Finally, Needham & Company LLC upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Viavi Solutions presently has an average rating of “Moderate Buy” and a consensus price target of $12.72.

About Viavi Solutions

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.