Insider Selling: Viavi Solutions Inc. (NASDAQ:VIAV) SVP Sells 2,802 Shares of Stock

Viavi Solutions Inc. (NASDAQ:VIAV) SVP Luke M. Scrivanich sold 2,802 shares of Viavi Solutions stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $10.43, for a total value of $29,224.86. Following the completion of the sale, the senior vice president now directly owns 54,517 shares of the company’s stock, valued at approximately $568,612.31. This represents a 4.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Viavi Solutions Stock Performance

Shares of VIAV stock opened at $11.05 on Friday. The company’s fifty day simple moving average is $9.84 and its 200-day simple moving average is $8.53. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. Viavi Solutions Inc. has a 52 week low of $6.60 and a 52 week high of $11.49. The company has a market cap of $2.45 billion, a PE ratio of -65.00 and a beta of 0.92.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on VIAV shares. Northland Securities raised their price target on Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Rosenblatt Securities raised their target price 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research report on Friday, November 1st. UBS Group assumed coverage on shares of Viavi Solutions in a report on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 price target on the stock. Finally, StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a report on Friday, December 6th. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $10.44.

Hedge Funds Weigh In On Viavi Solutions

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in shares of Viavi Solutions by 65.2% during the second quarter. Bank of New York Mellon Corp now owns 3,290,197 shares of the communications equipment provider’s stock valued at $22,604,000 after purchasing an additional 1,298,394 shares during the period. Dimensional Fund Advisors LP grew its holdings in Viavi Solutions by 12.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,818,337 shares of the communications equipment provider’s stock valued at $39,972,000 after purchasing an additional 661,450 shares in the last quarter. Westwood Holdings Group Inc. increased its stake in Viavi Solutions by 9.2% during the 2nd quarter. Westwood Holdings Group Inc. now owns 7,203,703 shares of the communications equipment provider’s stock worth $49,489,000 after buying an additional 606,522 shares during the period. Leeward Investments LLC MA lifted its holdings in 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 buying an additional 249,554 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Viavi Solutions by 7.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,194,959 shares of the communications equipment provider’s stock valued at $28,819,000 after buying an additional 217,399 shares during the last quarter. Hedge funds and other 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.