Viavi Solutions Inc. (NASDAQ:VIAV) SVP Luke M. Scrivanich Sells 2,802 Shares

Viavi Solutions Inc. (NASDAQ:VIAV) SVP Luke M. Scrivanich sold 2,802 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $10.43, for a total transaction 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. The trade was a 4.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Viavi Solutions Price Performance

NASDAQ:VIAV traded up $0.19 during trading hours on Wednesday, hitting $10.52. The company’s stock had a trading volume of 796,533 shares, compared to its average volume of 1,757,977. Viavi Solutions Inc. has a twelve month low of $6.60 and a twelve month high of $11.32. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.71 and a quick ratio of 3.31. The stock has a fifty day simple moving average of $9.73 and a 200-day simple moving average of $8.47. The company has a market capitalization of $2.33 billion, a P/E ratio of -62.11 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 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The business had revenue of $238.20 million during the quarter, compared to analysts’ expectations of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.05 EPS. On average, analysts anticipate that Viavi Solutions Inc. will post 0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Viavi Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC grew its holdings in shares of Viavi Solutions by 306.7% during the second quarter. SG Americas Securities LLC now owns 54,567 shares of the communications equipment provider’s stock worth $375,000 after purchasing an additional 41,149 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in Viavi Solutions by 1.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock worth $772,000 after acquiring an additional 2,100 shares during the last quarter. Bank of New York Mellon Corp increased its position in Viavi Solutions by 65.2% in the 2nd 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 acquiring an additional 1,298,394 shares during the period. Summit Securities Group LLC bought a new position in shares of Viavi Solutions during the second quarter valued at $52,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Viavi Solutions by 20.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 54,718 shares of the communications equipment provider’s stock worth $376,000 after purchasing an additional 9,380 shares during the period. Institutional investors and hedge funds own 95.54% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. UBS Group began coverage on shares of Viavi Solutions in a report on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 price objective for the company. Northland Securities increased their price target on Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research note on Friday, November 1st. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Finally, Rosenblatt Securities raised their price target on Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Six investment 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.44.

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.