Viavi Solutions (NASDAQ:VIAV) Shares Gap Up – Time to Buy?

Shares of Viavi Solutions Inc. (NASDAQ:VIAV) gapped up before the market opened on Tuesday . The stock had previously closed at $9.94, but opened at $10.37. Viavi Solutions shares last traded at $10.37, with a volume of 51,136 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a research note on Friday, November 1st. Rosenblatt Securities boosted their target price on shares of Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research note on Friday, November 1st. StockNews.com lowered shares of Viavi Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. Northland Securities upped their price target on shares of Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, B. Riley lowered their price target on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a research report on Friday, August 9th. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.44.

Viavi Solutions Price Performance

The firm’s fifty day moving average is $9.61 and its two-hundred day moving average is $8.39. 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 posted its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. The business had revenue of $238.20 million during 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 quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.05 earnings per share. On average, analysts anticipate that Viavi Solutions Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling at Viavi Solutions

In other Viavi Solutions news, EVP Paul Mcnab sold 5,920 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $8.45, for a total transaction of $50,024.00. Following the completion of the sale, the executive vice president now directly owns 34,545 shares of the company’s stock, valued at approximately $291,905.25. This represents a 14.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Luke M. Scrivanich sold 3,029 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $8.86, for a total transaction of $26,836.94. Following the sale, the senior vice president now directly owns 57,319 shares of the company’s stock, valued at $507,846.34. This represents a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 53,949 shares of company stock valued at $489,511. 1.52% of the stock is owned by insiders.

Institutional Trading of Viavi Solutions

Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in shares of 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 purchasing an additional 1,298,394 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Viavi Solutions by 12.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,818,337 shares of the communications equipment provider’s stock valued at $39,972,000 after purchasing an additional 661,450 shares during the period. Westwood Holdings Group Inc. increased its holdings in shares of Viavi Solutions by 9.2% in the 2nd quarter. Westwood Holdings Group Inc. now owns 7,203,703 shares of the communications equipment provider’s stock valued at $49,489,000 after purchasing an additional 606,522 shares during the period. Leeward Investments LLC MA increased its holdings in shares of Viavi Solutions by 17.1% in the 3rd quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider’s stock valued at $15,385,000 after purchasing an additional 249,554 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Viavi Solutions by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,194,959 shares of the communications equipment provider’s stock worth $28,819,000 after buying an additional 217,399 shares during the last quarter. 95.54% of the stock is owned by hedge funds and other institutional investors.

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.