Insider Selling: Viavi Solutions Inc. (NASDAQ:VIAV) SVP Sells $26,836.94 in Stock

Viavi Solutions Inc. (NASDAQ:VIAV) SVP Luke M. Scrivanich sold 3,029 shares of Viavi Solutions stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $8.86, for a total transaction of $26,836.94. Following the transaction, the senior vice president now directly owns 57,319 shares in the company, valued at $507,846.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Viavi Solutions Price Performance

Shares of NASDAQ VIAV opened at $9.03 on Friday. The business has a 50 day moving average price of $8.10 and a two-hundred day moving average price of $8.01. Viavi Solutions Inc. has a fifty-two week low of $6.60 and a fifty-two week high of $11.32. The firm has a market cap of $2.02 billion, a PE ratio of -451.50 and a beta of 0.91. 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 issued its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $252.00 million during the quarter, compared to analyst estimates of $251.83 million. Viavi Solutions had a negative net margin of 2.58% and a positive return on equity of 3.81%. Sell-side analysts expect that Viavi Solutions Inc. will post 0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on VIAV. Stifel Nicolaus reduced their target price 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. B. Riley decreased their target price on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a research report on Friday, August 9th. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a report on Friday, August 9th. Finally, Rosenblatt Securities lowered shares of Viavi Solutions from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $10.00 to $8.25 in a research note on Wednesday, June 26th. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.71.

Institutional Investors Weigh In On Viavi Solutions

A number of institutional investors have recently modified their holdings of the stock. Innealta Capital LLC bought a new stake in Viavi Solutions in the second quarter valued at about $38,000. Headlands Technologies LLC acquired a new position in shares of Viavi Solutions in the 1st quarter worth approximately $55,000. Quarry LP increased its holdings in shares of Viavi Solutions by 419.7% in the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock valued at $50,000 after acquiring an additional 5,838 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Viavi Solutions during the 2nd quarter valued at approximately $52,000. Finally, Park Avenue Securities LLC bought a new position in Viavi Solutions during the first quarter worth $99,000. Institutional investors and hedge funds own 95.54% of the company’s stock.

Viavi Solutions Company Profile

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.