Viavi Solutions Inc. (NASDAQ:VIAV) Short Interest Update

Viavi Solutions Inc. (NASDAQ:VIAV) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 5,130,000 shares, a drop of 20.3% from the March 15th total of 6,440,000 shares. Currently, 2.3% of the shares of the company are short sold. Based on an average trading volume of 2,230,000 shares, the days-to-cover ratio is currently 2.3 days.

Wall Street Analyst Weigh In

Several research firms have recently commented on VIAV. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a report on Monday, April 1st. StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a report on Friday. Rosenblatt Securities reduced their price target on Viavi Solutions from $15.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Susquehanna raised their price target on Viavi Solutions from $12.00 to $14.00 and gave the company a “positive” rating in a report on Thursday, March 7th. Finally, Northland Securities raised their price target on Viavi Solutions from $12.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.17.

Insiders Place Their Bets

In other Viavi Solutions news, EVP Paul Mcnab sold 15,004 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $10.62, for a total transaction of $159,342.48. Following the completion of the sale, the executive vice president now directly owns 57,940 shares of the company’s stock, valued at approximately $615,322.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Viavi Solutions news, EVP Paul Mcnab sold 15,004 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $10.62, for a total transaction of $159,342.48. Following the completion of the sale, the executive vice president now directly owns 57,940 shares of the company’s stock, valued at approximately $615,322.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin Christopher Siebert sold 13,967 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $10.70, for a total value of $149,446.90. Following the sale, the senior vice president now directly owns 47,097 shares of the company’s stock, valued at $503,937.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,093 shares of company stock valued at $319,841. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Viavi Solutions

A number of institutional investors have recently made changes to their positions in VIAV. Lazard Asset Management LLC raised its holdings in shares of Viavi Solutions by 2,189.8% in the fourth quarter. Lazard Asset Management LLC now owns 3,137 shares of the communications equipment provider’s stock worth $32,000 after acquiring an additional 3,000 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Viavi Solutions in the third quarter worth $92,000. Park Avenue Securities LLC acquired a new position in shares of Viavi Solutions in the first quarter worth $99,000. Oak Thistle LLC acquired a new position in shares of Viavi Solutions in the third quarter worth $101,000. Finally, Coldstream Capital Management Inc. raised its holdings in shares of Viavi Solutions by 13.4% in the third quarter. Coldstream Capital Management Inc. now owns 11,922 shares of the communications equipment provider’s stock worth $109,000 after acquiring an additional 1,411 shares during the last quarter. 95.54% of the stock is owned by institutional investors and hedge funds.

Viavi Solutions Stock Performance

Shares of VIAV stock opened at $8.45 on Friday. The stock has a fifty day moving average price of $9.52 and a 200 day moving average price of $9.08. The stock has a market cap of $1.88 billion, a PE ratio of 422.50 and a beta of 0.95. Viavi Solutions has a 1 year low of $7.26 and a 1 year high of $11.65. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.72 and a current ratio of 3.09.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings data on Thursday, February 1st. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. The firm had revenue of $254.50 million during the quarter, compared to analysts’ expectations of $249.77 million. Viavi Solutions had a return on equity of 5.38% and a net margin of 0.49%. Sell-side analysts forecast that Viavi Solutions will post 0.22 earnings per share for the current fiscal year.

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.