Insider Selling: Viavi Solutions Inc. (NASDAQ:VIAV) EVP Sells 5,920 Shares of Stock

Viavi Solutions Inc. (NASDAQ:VIAV) EVP Paul Mcnab sold 5,920 shares of Viavi Solutions stock in a transaction on Friday, September 13th. The stock was sold at an average price of $8.45, for a total transaction of $50,024.00. Following the transaction, the executive vice president now directly owns 34,545 shares of the company’s stock, valued at approximately $291,905.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Paul Mcnab also recently made the following trade(s):

• On Tuesday, August 13th, Paul Mcnab sold 7,324 shares of Viavi Solutions stock. The stock was sold at an average price of $7.52, for a total value of $55,076.48.

Viavi Solutions Stock Performance

VIAV opened at $8.28 on Thursday. Viavi Solutions Inc. has a 1-year low of $6.60 and a 1-year high of $11.32. The company has a market cap of $1.84 billion, a price-to-earnings ratio of -414.00 and a beta of 0.91. The company’s fifty day moving average price is $7.95 and its two-hundred day moving average price is $8.10. The company has a current ratio of 3.55, a quick ratio of 3.16 and a debt-to-equity ratio of 0.93.

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

Institutional Trading of Viavi Solutions

Institutional investors and hedge funds have recently modified their holdings of the stock. Truist Financial Corp purchased a new stake in Viavi Solutions in the 4th quarter valued at $263,000. Victory Capital Management Inc. grew its stake in shares of Viavi Solutions by 2.5% in the 4th quarter. Victory Capital Management Inc. now owns 115,138 shares of the communications equipment provider’s stock worth $1,159,000 after acquiring an additional 2,797 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Viavi Solutions by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,595,913 shares of the communications equipment provider’s stock worth $26,141,000 after acquiring an additional 154,996 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Viavi Solutions by 4.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,026,592 shares of the communications equipment provider’s stock worth $50,618,000 after acquiring an additional 202,387 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Viavi Solutions in the 4th quarter worth $177,000. 95.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VIAV has been the subject of several recent analyst reports. B. Riley decreased their target price on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a research note on Friday, August 9th. 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 research report on Wednesday, June 26th. Stifel Nicolaus dropped their target price on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a report on Friday, August 9th. Finally, StockNews.com raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. 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. According to MarketBeat.com, the company presently 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.