Insider Selling: Viavi Solutions Inc. (NASDAQ:VIAV) Director Sells $152,100.00 in Stock

Viavi Solutions Inc. (NASDAQ:VIAV) Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $10.14, for a total value of $152,100.00. Following the completion of the transaction, the director now owns 225,333 shares of the company’s stock, valued at $2,284,876.62. This trade represents a 6.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, October 14th, Masood Jabbar sold 15,000 shares of Viavi Solutions stock. The shares were sold at an average price of $9.17, for a total transaction of $137,550.00.
• 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 transaction 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 transaction of $245,100.00.

Viavi Solutions Trading Down 1.9 %

Shares of VIAV opened at $9.87 on Friday. Viavi Solutions Inc. has a 52-week low of $6.60 and a 52-week high of $11.32. The stock’s 50-day simple moving average is $9.18 and its 200 day simple moving average is $8.16. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.71 and a quick ratio of 3.31.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results 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 firm had revenue of $238.20 million for the quarter, compared to the consensus estimate of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.05 earnings per share. Research analysts forecast that Viavi Solutions Inc. will post 0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Texas Permanent School Fund Corp increased its holdings in shares of Viavi Solutions by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 194,787 shares of the communications equipment provider’s stock worth $1,771,000 after buying an additional 2,754 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Viavi Solutions by 26.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 26,804 shares of the communications equipment provider’s stock valued at $244,000 after buying an additional 5,623 shares in the last quarter. Headlands Technologies LLC bought a new stake in Viavi Solutions in the 1st quarter worth approximately $55,000. QRG Capital Management Inc. boosted its stake in Viavi Solutions by 15.6% in the first quarter. QRG Capital Management Inc. now owns 21,340 shares of the communications equipment provider’s stock worth $194,000 after buying an additional 2,883 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in Viavi Solutions by 7.4% during the first quarter. ProShare Advisors LLC now owns 44,645 shares of the communications equipment provider’s stock valued at $406,000 after acquiring an additional 3,072 shares during the last quarter. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on VIAV. B. Riley dropped their price objective on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Rosenblatt Securities lifted their price objective on Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a report on Friday, November 1st. Northland Securities upped their price objective on shares of Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Stifel Nicolaus reduced their target price on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Five 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.42.

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.