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

Viavi Solutions Inc. (NASDAQ:VIAV) Director Masood Jabbar sold 15,000 shares of Viavi Solutions stock in a transaction on Monday, October 14th. The shares were sold at an average price of $9.17, for a total transaction of $137,550.00. Following the completion of the transaction, the director now directly owns 213,514 shares of the company’s stock, valued at $1,957,923.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, September 16th, Masood Jabbar sold 15,000 shares of Viavi Solutions stock. The shares were 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 stock was sold at an average price of $8.17, for a total value of $245,100.00.

Viavi Solutions Trading Up 1.2 %

NASDAQ:VIAV traded up $0.11 during trading hours on Tuesday, hitting $9.30. The company had a trading volume of 130,926 shares, compared to its average volume of 1,784,501. Viavi Solutions Inc. has a 1 year low of $6.60 and a 1 year high of $11.32. The company has a current ratio of 3.55, a quick ratio of 3.16 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average of $8.40 and a 200 day moving average of $7.95. The company has a market cap of $2.08 billion, a P/E ratio of -459.50 and a beta of 0.91.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data 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 negative net margin of 2.58% and a positive return on equity of 3.81%. The firm had revenue of $252.00 million during the quarter, compared to analysts’ expectations of $251.83 million. Sell-side analysts expect that Viavi Solutions Inc. will post 0.17 earnings per share for the current year.

Hedge Funds Weigh In On Viavi Solutions

A number of hedge funds have recently modified their holdings of the business. Innealta Capital LLC purchased a new position in Viavi Solutions during the second quarter worth about $38,000. Quarry LP boosted its position in shares of Viavi Solutions by 419.7% during the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock worth $50,000 after purchasing an additional 5,838 shares during the period. Summit Securities Group LLC purchased a new stake in Viavi Solutions in the second quarter valued at approximately $52,000. Headlands Technologies LLC acquired a new position in Viavi Solutions during the first quarter worth $55,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Viavi Solutions during the second quarter worth $76,000. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on VIAV shares. Rosenblatt Securities cut shares of Viavi Solutions from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $10.00 to $8.25 in a research report on Wednesday, June 26th. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a report on Friday, August 9th. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. B. Riley dropped their price target 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. Finally, Stifel Nicolaus decreased their price objective on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Five research 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. According to data from MarketBeat, Viavi Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $10.71.

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.