Paul Mcnab Sells 5,920 Shares of Viavi Solutions Inc. (NASDAQ:VIAV) Stock

Viavi Solutions Inc. (NASDAQ:VIAV) EVP Paul Mcnab sold 5,920 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $8.45, for a total value of $50,024.00. Following the transaction, the executive vice president now owns 34,545 shares in the company, valued at approximately $291,905.25. The transaction was disclosed in a document filed with the SEC, 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 value of $55,076.48.

Viavi Solutions Stock Performance

Shares of Viavi Solutions stock opened at $8.38 on Monday. The company’s 50 day moving average price is $7.87 and its two-hundred day moving average price is $8.12. The firm has a market capitalization of $1.86 billion, a P/E ratio of -419.00 and a beta of 0.91. 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 debt-to-equity ratio of 0.93, a current ratio of 3.55 and a quick ratio of 3.16.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The company 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, equities analysts forecast that Viavi Solutions Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on VIAV. Stifel Nicolaus cut their price objective on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research report on Tuesday, August 6th. B. Riley cut their price target 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. Rosenblatt Securities cut shares of Viavi Solutions from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $10.00 to $8.25 in a research note on Wednesday, June 26th. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a report on Friday, August 9th. Five 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $10.71.

Institutional Trading of Viavi Solutions

A number of hedge funds have recently made changes to their positions in the company. Innealta Capital LLC bought a new position in Viavi Solutions in the 2nd quarter valued at approximately $38,000. Quarry LP lifted its holdings in shares of Viavi Solutions by 419.7% during the second quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock worth $50,000 after purchasing an additional 5,838 shares during the period. Summit Securities Group LLC bought a new stake in shares of Viavi Solutions in the second quarter worth $52,000. Headlands Technologies LLC acquired a new stake in Viavi Solutions in the first quarter valued at $55,000. Finally, Sanctuary Advisors LLC bought a new position in Viavi Solutions during the 2nd quarter worth $76,000. 95.54% of the stock is owned by institutional investors and hedge funds.

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.