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

Viavi Solutions Inc. (NASDAQ:VIAV) Director Masood Jabbar sold 15,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $8.20, for a total value of $123,000.00. Following the transaction, the director now directly owns 228,514 shares in the company, valued at approximately $1,873,814.80. The sale 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 Wednesday, August 21st, Masood Jabbar sold 30,000 shares of Viavi Solutions stock. The shares were sold at an average price of $8.17, for a total value of $245,100.00.

Viavi Solutions Trading Up 0.7 %

Shares of VIAV opened at $8.37 on Wednesday. Viavi Solutions Inc. has a 12 month low of $6.60 and a 12 month high of $11.32. The stock’s 50-day moving average is $7.90 and its two-hundred day moving average is $8.11. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.55 and a quick ratio of 3.16. The stock has a market cap of $1.87 billion, a PE ratio of -418.50 and a beta of 0.91.

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

Institutional Investors Weigh In On Viavi Solutions

A number of large investors have recently added to or reduced their stakes in VIAV. Capital World Investors increased its stake in Viavi Solutions by 305.4% during the 1st quarter. Capital World Investors now owns 12,161,535 shares of the communications equipment provider’s stock worth $110,548,000 after buying an additional 9,161,535 shares during the period. Capital Research Global Investors acquired a new position in shares of Viavi Solutions in the first quarter worth about $29,526,000. Norges Bank purchased a new position in Viavi Solutions in the fourth quarter valued at about $24,608,000. Bank of New York Mellon Corp grew its stake in Viavi Solutions by 65.2% during 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 in the last quarter. Finally, Westwood Holdings Group Inc. increased its holdings in Viavi Solutions by 20.2% during the 4th quarter. Westwood Holdings Group Inc. now owns 6,573,335 shares of the communications equipment provider’s stock worth $66,193,000 after purchasing an additional 1,103,687 shares during the last quarter. 95.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on VIAV shares. B. Riley dropped their price objective on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a research note on Friday, August 9th. Stifel Nicolaus dropped their price target on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research report on Tuesday, August 6th. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Rosenblatt Securities downgraded Viavi Solutions from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $10.00 to $8.25 in a report on Wednesday, June 26th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.71.

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.