Luke M. Scrivanich Sells 3,029 Shares of Viavi Solutions Inc. (NASDAQ:VIAV) Stock

Viavi Solutions Inc. (NASDAQ:VIAV) SVP Luke M. Scrivanich sold 3,029 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $8.86, for a total value of $26,836.94. Following the completion of the transaction, the senior vice president now directly owns 57,319 shares of the company’s stock, valued at approximately $507,846.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Viavi Solutions Stock Up 1.7 %

VIAV stock opened at $9.03 on Friday. The firm has a market cap of $2.02 billion, a PE ratio of -451.50 and a beta of 0.91. Viavi Solutions Inc. has a 12 month low of $6.60 and a 12 month high of $11.32. 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 firm has a 50 day simple moving average of $8.10 and a 200 day simple moving average of $8.02.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on VIAV shares. Rosenblatt Securities downgraded shares of Viavi Solutions from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $10.00 to $8.25 in a report on Wednesday, June 26th. B. Riley reduced 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 note on Friday, August 9th. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a research note on Friday, August 9th. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Finally, Stifel Nicolaus decreased their price target on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research note on Tuesday, August 6th. 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.71.

Institutional Investors Weigh In On Viavi Solutions

Hedge funds have recently modified their holdings of the stock. Innealta Capital LLC purchased a new position in Viavi Solutions in the 2nd quarter worth about $38,000. Quarry LP boosted its holdings in shares of Viavi Solutions by 419.7% in the second quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock worth $50,000 after buying an additional 5,838 shares during the period. Summit Securities Group LLC purchased a new position in shares of Viavi Solutions in the second quarter worth approximately $52,000. Headlands Technologies LLC purchased a new position in shares of Viavi Solutions in the first quarter worth approximately $55,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Viavi Solutions during the second quarter valued at approximately $76,000. 95.54% of the stock is 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.