Viavi Solutions Inc. (NASDAQ:VIAV) SVP Sells $72,768.16 in Stock

Viavi Solutions Inc. (NASDAQ:VIAV) SVP Kevin Christopher Siebert sold 8,432 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $8.63, for a total value of $72,768.16. Following the transaction, the senior vice president now owns 56,617 shares of the company’s stock, valued at approximately $488,604.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Viavi Solutions Stock Performance

Viavi Solutions stock opened at $8.61 on Monday. Viavi Solutions Inc. has a twelve month low of $6.60 and a twelve month high of $11.32. The company has a quick ratio of 3.16, a current ratio of 3.55 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $1.91 billion, a P/E ratio of -430.50 and a beta of 0.91. The stock’s 50 day moving average is $7.63 and its 200 day moving average is $8.21.

Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Thursday, August 8th. The communications equipment provider reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Viavi Solutions had a positive return on equity of 3.81% and a negative net margin of 2.58%. The firm had revenue of $252.00 million for the quarter, compared to analysts’ expectations of $251.83 million. On average, equities research analysts predict that Viavi Solutions Inc. will post 0.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Argus raised shares of Viavi Solutions to a “strong-buy” rating in a research report on Thursday, May 9th. StockNews.com downgraded shares of Viavi Solutions from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. B. Riley lowered their price objective on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a report on Friday, August 9th. Rosenblatt Securities downgraded Viavi Solutions from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $10.00 to $8.25 in a report on Wednesday, June 26th. Finally, Stifel Nicolaus dropped their price target on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Viavi Solutions presently has an average rating of “Hold” and a consensus price target of $10.71.

Hedge Funds Weigh In On Viavi Solutions

A number of hedge funds have recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in Viavi Solutions during the 2nd quarter valued at $38,000. Quarry LP lifted its holdings in shares of Viavi Solutions by 419.7% during the second quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock valued at $50,000 after purchasing an additional 5,838 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Viavi Solutions during the second quarter valued at $52,000. Headlands Technologies LLC bought a new stake in Viavi Solutions in the 1st quarter worth about $55,000. Finally, Heritage Family Offices LLP purchased a new position in Viavi Solutions in the 2nd quarter worth about $92,000. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

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.