Short Interest in Viavi Solutions Inc. (NASDAQ:VIAV) Drops By 16.3%

Viavi Solutions Inc. (NASDAQ:VIAV) saw a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 4,990,000 shares, a decrease of 16.3% from the February 28th total of 5,960,000 shares. Approximately 2.3% of the company’s stock are short sold. Based on an average daily trading volume, of 2,140,000 shares, the days-to-cover ratio is presently 2.3 days.

Insider Activity

In related news, SVP James L. Veler, Jr. sold 13,807 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $10.86, for a total value of $149,944.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Paul Mcnab sold 9,034 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $11.09, for a total value of $100,187.06. Following the transaction, the executive vice president now owns 38,775 shares of the company’s stock, valued at approximately $430,014.75. This trade represents a 18.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,164 shares of company stock worth $711,422 over the last quarter. 1.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Viavi Solutions

A number of institutional investors have recently bought and sold shares of the business. Picton Mahoney Asset Management lifted its position in shares of Viavi Solutions by 35.0% in the fourth quarter. Picton Mahoney Asset Management now owns 3,212 shares of the communications equipment provider’s stock valued at $32,000 after buying an additional 833 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in Viavi Solutions by 804.6% during the 4th quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider’s stock valued at $70,000 after purchasing an additional 6,171 shares during the last quarter. Venturi Wealth Management LLC bought a new position in Viavi Solutions during the fourth quarter worth $75,000. Smartleaf Asset Management LLC boosted its position in Viavi Solutions by 836.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider’s stock worth $84,000 after purchasing an additional 7,434 shares during the period. Finally, TD Waterhouse Canada Inc. increased its holdings in shares of Viavi Solutions by 64.6% in the fourth quarter. TD Waterhouse Canada Inc. now owns 9,389 shares of the communications equipment provider’s stock valued at $95,000 after purchasing an additional 3,684 shares during the last quarter. Institutional investors and hedge funds own 95.54% of the company’s stock.

Analyst Upgrades and Downgrades

VIAV has been the subject of a number of recent research reports. B. Riley upped their price target on Viavi Solutions from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Morgan Stanley increased their target price on shares of Viavi Solutions from $9.50 to $10.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Northland Securities reiterated an “outperform” rating and issued a $14.00 price target (up from $13.00) on shares of Viavi Solutions in a research note on Friday, January 31st. Stifel Nicolaus restated a “buy” rating and set a $13.00 price objective (up from $12.00) on shares of Viavi Solutions in a research note on Friday, January 31st. Finally, Needham & Company LLC upgraded Viavi Solutions from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.72.

Viavi Solutions Stock Down 0.6 %

Viavi Solutions stock opened at $11.19 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.55 and a quick ratio of 3.18. The company’s 50-day moving average is $11.37 and its 200-day moving average is $10.32. The firm has a market capitalization of $2.49 billion, a PE ratio of -62.16 and a beta of 0.94. Viavi Solutions has a fifty-two week low of $6.60 and a fifty-two week high of $12.91.

Viavi Solutions Company Profile

Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.