Masood Jabbar Sells 15,000 Shares of Viavi Solutions Inc. (NASDAQ:VIAV) Stock

Viavi Solutions Inc. (NASDAQ:VIAV) Director Masood Jabbar sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $9.17, for a total value of $137,550.00. Following the completion of the transaction, the director now owns 213,514 shares in the company, valued at $1,957,923.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, September 16th, Masood Jabbar sold 15,000 shares of Viavi Solutions stock. The stock was sold at an average price of $8.20, for a total value of $123,000.00.
• 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 Stock Performance

NASDAQ VIAV opened at $9.25 on Thursday. The company’s 50 day moving average is $8.44 and its 200-day moving average is $7.95. The firm has a market cap of $2.06 billion, a P/E ratio of -462.50 and a beta of 0.91. Viavi Solutions Inc. has a 12-month low of $6.60 and a 12-month high of $11.32. The company has a quick ratio of 3.16, a current ratio of 3.55 and a debt-to-equity ratio of 0.93.

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

Institutional Investors Weigh In On Viavi Solutions

Several hedge funds and other institutional investors have recently modified their holdings of VIAV. Capital World Investors grew its stake in Viavi Solutions by 305.4% during the first quarter. Capital World Investors now owns 12,161,535 shares of the communications equipment provider’s stock valued at $110,548,000 after acquiring an additional 9,161,535 shares in the last quarter. Capital Research Global Investors bought a new position in shares of Viavi Solutions in the first quarter worth $29,526,000. Bank of New York Mellon Corp boosted its stake in 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 buying an additional 1,298,394 shares during the period. Dimensional Fund Advisors LP boosted its stake in Viavi Solutions by 12.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,818,337 shares of the communications equipment provider’s stock valued at $39,972,000 after buying an additional 661,450 shares during the period. Finally, Wellington Management Group LLP grew its position in Viavi Solutions by 4.0% during the fourth quarter. Wellington Management Group LLP now owns 16,563,670 shares of the communications equipment provider’s stock worth $166,796,000 after buying an additional 638,309 shares in the last quarter. 95.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on VIAV. Stifel Nicolaus cut their price target on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a report on Tuesday, August 6th. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Rosenblatt Securities downgraded shares of Viavi Solutions from a “buy” rating to a “neutral” rating and reduced their target price for the company from $10.00 to $8.25 in a research report on Wednesday, June 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a report on Friday, August 9th. Finally, 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. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Viavi Solutions currently has an average rating of “Moderate Buy” and an average target price of $10.71.

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.